Contractors Hot Line is part of the Catalyst Communications Network publication family.
Contractors Hot Line is part of the Catalyst Communications Network publication family.
Varel Energy Solutions (VES) has acquired Ace Well Technology (ACE), a provider in oilfield casing, cementing and completion products.
This strategic transaction aims to enhance VES’s portfolio with ACE's cementing technologies and expand its offerings in smart completions, particularly for offshore and premium market sectors.
The integration of ACE's expertise, positions VES as a provider of high-quality, value-driven solutions. The combined companies plan to leverage their customer relationships, operational footprints and supply chain efficiencies to deliver enhanced value and improved economics to global customers. This collaboration reflects a commitment to addressing challenges in well installation and completions, especially in cost-sensitive and complex environments.
“Varel Energy Solutions is extremely honored to add the extraordinary people and impressive high-performance culture of Ace Well Technology to our organization,” Derek Nixon, president & CEO of VES said.
“I am very excited by the opportunities this transaction will create for the employees and customers of Ace Well Technologies,” Stian Anke-Hansen, CEO of ACE said.
“Varel’s extremely strong global presence, commitment to customer service and robust balance sheet will create a platform for even faster growth of our products and people.”
Founded in 2012, ACE is renowned for its high-value casing accessories and completions product line, coupled with exceptional customer service and technical support.
VES plans to harness ACE's solutions and integrate them into its offerings to strengthen its position in consumable downhole products for the oil and gas and renewable energy sectors.
With the acquisition complete, VES and ACE are poised to deliver advanced, cost-effective solutions, further solidifying their presence in the global energy market.