Expro announced it has closed its previously announced acquisition of Enhanced Well Technologies Group AS, known as Enhanced Drilling, for approximately 2 billion Norwegian kroner in cash, or approximately $215 million, plus customary closing and working capital adjustments.
With the acquisition complete, Expro plans to integrate Enhanced Drilling’s managed pressure drilling and riserless mud recovery services into its portfolio, aiming to help customers improve drilling efficiency and simplify well architectures in complex formations. The company said the addition creates a complementary offering that allows earlier engagement in well construction design and planning, positioning Expro to work more closely with customers on technical challenges, reduce operational risk, and lower total well costs.
Headquartered in Norway, Enhanced Drilling has built a track record delivering proprietary managed pressure drilling and riserless mud recovery solutions across offshore environments, primarily in the North Sea, Caspian, and Gulf of America. Expro said the acquisition strengthens its position in Norway and expands its access to established customer relationships in the region, while its global operating footprint positions the combined business to accelerate deployment of these technologies across additional offshore basins, including West Africa, Latin America, and Asia Pacific.
Expro, with roots dating to 1938, employs approximately 7,000 people and provides well construction, well flow management, subsea well access, and well intervention and integrity services to energy companies in more than 60 countries.
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“We are pleased to welcome the Enhanced Drilling team to Expro. This is a strong strategic fit that adds a differentiated capability to our portfolio and strengthens our position in technically demanding offshore markets. Their MPD technologies align with our focus on helping customers improve efficiency, manage risk, and deliver wells with greater certainty. Together, we are well positioned to expand access to these solutions across additional regions, including West Africa, Latin America and Asia Pacific.”
Michael Jardon, Chief Executive Officer, Expro
“Joining Expro marks an important milestone for Enhanced Drilling. As part of a global organization with deep operational expertise and long-standing customer relationships, we are well positioned to scale our technologies and broaden their application across international markets.”
Kjetil Lunde, Chief Executive Officer, Enhanced Drilling
