Helmerich & Payne (H&P) has annnounced that completed its acquisition of KCA Deutag International Limited, establishing a global leader in onshore drilling.

 

With this acquisition, H&P aims to accelerating the company’s international growth strategy by significantly increasing its Middle East presence.

 

President and CEO of H&P, John Lindsay, commented: “We are excited to complete this transformative acquisition and welcome KCA Deutag’s talented employees to H&P. Today marks an important milestone for our company, customers and shareholders as we create an organization with an enhanced global footprint, exceptional service capability and superior technology offering. We are focused on ensuring a seamless transition and delivering on the strategic and financial benefits of the transaction.”

 

Lindsay continued: “Over the past several months, team members across the company have been diligently working on the planning associated with this integration and providing excellent service to our customers. I am appreciative of and impressed by the entire team across our global operations for all of their hard work and commitment. I’d also like to thank KCA Deutag CEO Joseph Elkhoury for his support throughout this integration planning process and wish him the best in his future endeavours.”

 

With the acquisition of KCA Deutag, H&P expects to deliver near- and long-term growth and value creation by:

* Enhancing scale and diversification, with a robust geographic and operational mix across US and international crude oil and natural gas markets; and

* Strengthening the Company’s cash flow with a more diversified and durable revenue stream.

 

H&P will remain headquartered in Tulsa, Oklahoma, and John Lindsay continues to serve as President and CEO. Joseph Elkhoury, CEO of KCA Deutag, will not continue with H&P.

 

Founded in 1920, H&P delivers the technology and engineering solutions to ensure a secure, affordable and sustainable energy future. Through its subsidiaries, the company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies, the company said. - TradeArabia News Service

Nabors Industries has announced the closing of its acquisition of Parker Wellbore, advancing Nabors’ leadership position in drilling and related, value-added services.

 

Parker’s solutions portfolio includes Quail Tools,the leading rental provider of high-performance downhole tubulars in the US Lower 48 and US Offshore markets. Quail provides similar rental services internationally in key markets. Parker holds significant market positions in onshore and offshore tubular running services, across the US, the Middle East, Latin America, and Asia. Additionally, Parker’s contract drilling services include land and barge rigs, as well as Operations & Maintenance services.

 

Anthony Petrello, Chairman, President and CEO of Nabors, commented on the closing of the acquisition, “With the successful completion of the Parker transaction, we are accelerating the growth of our Drilling Solutions business across several important markets, while bolstering our global drilling business. We are excited to welcome a strong and talented organisation to the Nabors team. Our customers will benefit from the best practices that both organisations employ, and we expect to create incremental value for them by combining our offerings. Our immediate priority is to ensure seamless integration, and to capture the synergies we have projected.”

 

“I would like to thank both teams for their dedication to the integration planning process, while maintaining outstanding customer service. The teams have worked exceedingly well together during this period, giving reason for optimism as we move forward. I also want to thank Sandy Esslemont, Parker’s President and CEO, for his leadership and to wish him continued success.”

 

Nabors expects the acquisition to deliver robust strategic and financial benefits, specifically:

Nabors expects the Parker business to produce annualised 2025 adjusted EBITDA of approximately $150 million before the realisation of expense synergies. Expense synergies are estimated at $40 million by the end of 2025. Post-closing capital expenses for 2025 are estimated at $70 million. -TradeArabia News Service

 

Mubadala, the sovereign wealth fund of Abu Dhabi, has announced that it has successfully completed the sale of its indirect stake in Calisen, a leading provider of smart metres and small-scale energy transition infrastructure assets based in Manchester, UK.

 

Mubadala said the sale marks the end of a four-year investment cycle during which Mubadala, alongside partners, Global Infrastructure Partners (GIP), a part of BlackRock, and the infrastructure business at Goldman Sachs Alternatives, worked closely with Calisen to deliver strong financial and commercial performance.

 

In addition, Mubadala has supported Calisen's expansion capabilities to unlock new growth opportunities, including electric vehicle (EV) charging and the electrification of heating, solar, and battery solutions, deepening Calisen's role in the UK's energy transition.

 

A key milestone in this journey was Calisen's 2023 acquisition of MapleCo, a high-quality UK smart metering company owned by Equitix, which is now part of the shareholder group, strengthening Calisen's market position.

 

With an installed base of 16 million metres, the company is well-positioned to capitalise on market trends underpinned by the ongoing energy transition as the UK advances in its journey to achieving net zero by 2050.

 

Saed Arar, the Head of Infrastructure at Mubadala, said: "Over the past four years, we've been proud to support Calisen as the business executed its long-term growth strategy."

 

Calisen is the UK's leading owner and manager of smart meters, essential energy infrastructure assets, as well as a provider of installation, meter reading.

 

"The success of this investment comes from selecting the right partners and business to support and implementing active management initiatives that were accretive to returns, de-risked the investment, and positioned Calisen well for an attractive exit," stated Arar.

 

This transaction aligns with Mubadala's approach of capturing value through well-timed and strategic exits, while ensuring that Calisen is well-positioned for its next growth phase, he added.-TradeArabia News Service