Sale to Industrial
i-TEC sold to Trican
Toronto-listed Trican Well Service Ltd. (“Trican”) and i-TEC Well Solutions (“i-TEC”) announced on 20th December that Trican will acquire i-TEC for a consideration of up to USD 107m based on certain performance parameters. The consideration will be paid in cash and shares

Accelerated roll-out of unique technology

i-TEC is a privately-owned company based in Norway that specializes in completion and intervention solutions through the development of completion and intervention tools. i-TEC has operations in Norway, the United States, and Canada. i-TEC’s technology portfolio is well protected with a significant number of patents and patents pending. i-TEC’s current technology focus is on cemented liner completion systems.

Trican Well Service is an international pressure pumping company with operations on four continents and corporate headquarters in Calgary, Alberta, Canada. Trican is currently the largest pressure pumping service provider in Canada and a leading fracturing company in Russia, with growing operations the United States, Kazakhstan, Algeria and Australia. Trican’s expertise and experience in pressure pumping are some of the most extensive in the industry, with an annual average of more than 8,900 frac jobs performed worldwide in the past three years. Trican has also performed an annual average of more than 9,200 cementing jobs, 3,600 nitrogen jobs and close to 3,000 deep coiled tubing jobs over the past three years, among many other services around the world. Trican is listed at the Toronto Stock Exchange and has a market capitalization of CAD 1.9bn.

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