The merger of the two wireline services companies will create API Wyreline. (Source: Shutterstock)
Wireline services companies API Perforating and Wyreline Transformation announced Jan. 23 they are merging to create the new API Wyreline.
Current API CEO Justin Anderson will lead API Wyreline. Cameron Kirkpatrick, founder and CEO of Wyreline, will join the new company’s board of directors and fill the role of COO.
"This is a transformative moment for Wyre,” Kirkpatrick said in a press release. “Merging with API expands our footprint into new markets, enhancing our capabilities in coated wireline and horizontal braided line fishing. The minimal overlap in operating areas and customer base makes this merger an ideal match for both parties."
The combination brings API’s 50 wireline trucks across five districts together with Wyreline’s completions technologies.
Recommended Reading
Chevron, in Hess Holding Pattern, Sells $6.8B in Alaska, Canada
2024-10-08 - Chevron Corp., waiting to close a $55 billion takeover of Hess Corp., is selling off non-core assets in Canada and Alaska.
As Upstream M&A Settles, Oilfield Services Gear Up for More Deals
2024-12-06 - Within the first nine months of 2024, oilfield services dealmaking hit $19.7 billion—the highest since 2018, according to Deloitte.
The Midland—Oxy’s Second Growth Engine—Already Purring
2024-12-04 - From 18,000-ft laterals to new exploration in the Emma Barnett, Thaimar Ramirez, president and general manager of Oxy’s Midland Basin Business Unit, detailed the integration of its $12 billion CrownRock takeover.
ConocoPhillips: Longer Laterals Coming to Delaware Basin After Marathon Close
2024-11-22 - After closing a $17.1 billion acquisition of Marathon Oil, ConocoPhillips’ Delaware Basin leader sees opportunities to drill longer laterals and investigate secondary benches underground.
'A Renewed Look': Central Basin Platform's Old Rock Gains New Interest
2024-10-29 - As majors prune their portfolios to sell non-core assets, M&A activity is heating up on the Permian’s Central Basin Platform and Northwest Shelf—and Ring Energy hopes to be a buyer.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.