Premium Oilfield Technologies announced that it has executed agreements to buy Global Drilling Support “GDS”. The acquisition of certain of the GDS entities is closed and was effective immediately as of October 31, 2019, and the acquisition of a smaller operation of GDS is part of a separate agreement which is subject to customary closing conditions and is expected to occur in the first quarter of 2020.
Founded in 2008 by Keith Holliday and Paul Nicholson, GDS is the premier independent provider of tailored, “one-stop-shop” aftermarket solutions for both third-party and GDS manufactured top drives, providing a comprehensive range of top drive repair, recertification and overhaul services. Through its API Q1 and 8C operations in Houston and Midland/Odessa (USA), Dubai (UAE), and Tyumen (Russia), GDS repairs and recertifies top drives, and also stocks and distributes spare parts for most OEM top drive manufacturers. GDS also maintains an experienced in-house engineering and design team that supports its manufacturing operations and works with its customers to develop innovative solutions. Their crew of highly-trained service technicians are stationed around the world and are available for service calls related to any mechanical or electrical issue.
Premium Oilfield Technologies designs, manufactures, sells and rents high-performance drilling equipment and spare parts, mostly focused around mud pump fluid-end expendables, mud valves, centrifugal pumps, shaker screens, Patriot pistons and top drive expendables. Premium also manufactures and sells the Sur-Lock suite of patented quick-change mud pump “add-on” components, which drastically reduce the time it takes to change pistons, valves, seats and liners in a mud pump. Sur-Lock also significantly increases employee safety by eliminating the need for sledgehammers in the parts-change process. The Premium Sur-Drive washpipe cartridge system is the first top drive washpipe cartridge system tested to 10,000 psi with water, and run successfully at peak pressure and rpm in the field.
Premium is headquartered in Houston and is a portfolio company of Quantum Energy Partners, a Houston-based private equity firm.
(Source and image: Premium Oilfield Technologies – Consignment box)