"This is an exciting day for Intelligent Drilling Tools Ltd and Innovar Solutions AS as we together create a new leader within Drilling technology, wellbore cleaning and expertise to better support our clients with new technology"
Sola – September 26, 2023 – Innovar Solutions AS, a Norwegian energy services company with market leadership in fishing and wellbore cleaning technology, today announced it has completed its acquisition of 51% of the shares in Intelligent Drilling Tools Ltd, a company offering a broad range of innovative, electronically activated, programmable downhole drilling tools.
The new company has assumed the Intelligent Drilling Tools Ltd name and main office will be in England, Sheffield, and a sister company, IDT-Innovar AS will be in Norway at Varabergmyra 18, 4051 Sola.
This is an exciting day for Intelligent Drilling Tools Ltd and Innovar Solutions AS as we together create a new leader within Drilling technology, wellbore cleaning and expertise to better support our clients with new technology says the CEO of the new company, Jan Thygesen.
I would like to thank everyone at Intelligent Drilling Tools and Innovar Solutions for their great work in completing the transaction, planning for a successful integration, and positioning the combined company for long-term success. This is where the talented teams come together and we look forward to continuing to deliver cost-effective, innovative technology solutions, service quality and safe performances to our customers, all while advancing our commitment to creating a more sustainable business.
https://www.intelligentdrillingtools.com/avs/
