HOUSTON, Sept. 28, 2021 /PRNewswire/ -- Parker Wellbore—the re-energized integration of Parker Drilling, with subsidiaries Quail Tools, and iTS Energy Services—launches today with plans for expansion into new markets, geographies, and sectors to provide advanced subsurface wellbore construction solutions for modern transitioning energy markets.
The alignment of the three companies under Parker Wellbore's new fully-integrated global structure empowers the delivery of a comprehensive range of Parker Wellbore's global technology-enabled products and services, optimizing performance and minimizing risk to both traditional hydrocarbon and energy transition applications, including geothermal, well abandonment and CCUS sectors.
"Parker Drilling internationally, Quail Tools in the U.S., and iTS in Europe and the Middle East have been recognized for many years as leading brands in their respective fields among their customers – from drilling rigs and intervention services to downhole tool and equipment rental," said Parker Wellbore CEO Sandy Esslemont.
"But the time is right to consolidate our combined offering so that new and existing customers across the subsurface energy landscape fully benefit from the broad scale of our integrated capabilities in wellbore construction."
As a growing employer, Parker Wellbore anticipates creating 500-700 new jobs. Parker Wellbore currently operates in more than 20 countries with an established global platform well-suited for clients requiring global collaboration and local expertise.
In line with its growth, Parker Wellbore will deliver its superior drilling operations and management services – already established in the Arctic, Sakhalin Island, and Atlantic Canada – to new offshore locations including the North Sea, the Gulf of Mexico, and internationally, with well abandonment across mature basins, a key new focus. Parker Wellbore will leverage its rich history in geothermal, to target opportunities in Indonesia and East Africa.
The company, with a multi-million dollar technology development budget, has a core technology and engineering services group focused on automation and the advancement of digital real-time operational data surveillance and analysis to reduce HSE risks and optimize operational and environmental performance.
Sandy Esslemont added: "The energy transition is here, now and Parker Wellbore through integrated proactive participation sees this as an opportunity for growth. Parker Wellbore is ready to help solve the subsurface energy challenges of today and tomorrow, wherever and whatever they may be."
Susan Johnson, Parker Wellbore
Laura Glueck, Fifth Ring
About Parker Wellbore
Parker Wellbore is the new brand name for the integrated companies of Parker Drilling, Quail Tools, and iTS Energy Services. Parker Drilling was founded in 1934 and helps energy companies accomplish their drilling and production goals efficiently, reliably, and safely. Parker Drilling acquired U.S.-based Quail Tools in 1996 and iTS Energy Services in 2013. Quail Tools was established in 1978 in the U.S. It maintains an extensive inventory of premium rental equipment used in drilling, completion, workover, production, and deepwater applications. iTS Energy Services was established in Aberdeen in 1986 as a provider of premium rental tools and well construction services to the international energy industry.
For more information visit (website) www.parkerwellbore.com
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SOURCE Parker Wellbore