Scientific Drilling International (SDI), a major independent directional drilling and wellbore placement services company, acquired Marksman Ranging Technologies, an emerging leader in innovative magnetic ranging technology and services.
The transaction combines two highly complementary suites of services into a comprehensive portfolio of magnetic ranging offerings to customers on a global scale. Providing commercially proven active and passive ranging capabilities gives Scientific Drilling a competitive advantage in the marketplace.
“We are pleased to announce this combination with Marksman as it will bring compelling benefits to our customers and will strategically complement our existing wellbore placement offerings,” said Phil Longorio, CEO and President of Scientific Drilling. “This acquisition is a win-win for Marksman stakeholders and SDI. Together, we have a bright future ahead and we are excited to enroll unmatched technology coupled with highly talented individuals into the SDI family.”
Combination of active and passive ranging technology
Marksman Ranging Technologies is a Canadian-based technology company providing active ranging solutions to the steam assisted gravity drainage (SAGD), collision avoidance, wellbore intercept, coal bed methane (CBM) and other complex drilling markets. Scientific Drilling has served this space utilising its successful passive ranging solution (MagTraC MWD Ranging™) with over 530 projects in nearly every oilfield geography around the world. “The combination will deliver an unsurpassed depth and breadth of solutions to our customers and create market share capture opportunities for the company in existing and new markets,” Longorio stated.
Adapted from press release by Cecilia Rehn