Archer acquires Universal Wireline for USD 25.5 million
Seawell Limited (OSE: SEAW) today announced the acquisition of Universal Wireline from Patterson-UTI for USD 25.5 million on a debt and cash free basis. Universal Wireline will be merged with recently acquired Gray Wireline expanding the capabilities of the largest pure play cased hole wireline company in the U.S. The combined companies will command one of the youngest fleets in the industry with a total of 136 wireline units and 6 offshore skids. The Universal acquisition contributes 26 wireline units. Universal also expands Gray’s area of operation by adding new districts in Rosharon and Alice in Texas; Dunbar and Buckhannon in West Virginia; and Tioga, in North Dakota.
USD 25.5m - 2011

Further expansion for the largest pure play cased hole wireline company in the U.S

Universal Wireline offers 26 wireline units – including 22 Artex built hydraulic units with an average age of less than 3 years and 4 mechanical units specific to work in Appalachia; 17 crane trucks with an average age of less than 3 years; and a wide assortment of logging and wireline tools.

Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 3,200 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston, Esbjerg and joint ventures in Abu Dhabi and Kuala Lumpur.

Alpha logo