Propell and Stimline Announce Collaboration
Propell and Stimline announced today a collaboration to accelerate creation of next generation well-site equipment. Propell brings significant expertise and capacity in the design and manufacture of well-site pumping and coiled tubing equipment; Stimline brings manufacturing of automated wireline and coiled tubing equipment, control systems and digital infrastructure.
Together, the two organizations have a greatly improved product and services portfolio, and a much wider operational footprint to be able to deliver rapid product advancements and new innovations to the oil and gas markets. Propell and Stimline will be able to deliver automated and integrated equipment that covers the full well completion process, from wireline, pressure pumping, sand handling, chemical mixing to coiled tubing.
Both companies are well known for their engineering based approach, innovation, and new product development capabilities. The initial focus of the relationship will be to improve the integration of completion and intervention operations through Stimline’s IDEX architecture. This involves building a digital model of the well where all data is captured, managed and made available for critical decisions. The powerful combination of electric technology, digital integration and automation creates an unmatched platform of well completion solutions for better planning, improved execution, increased performance, and reduced wellsite manpower.
James Easden, President of Propell said “Our customers are counting on us to help them cost effectively cross the bridge to electrified and digitalized technology. Our industry is at a critical cross roads and successfully navigating the complexities of this next stage of development is key for all stakeholders. We recognized the team at Stimline, with a proven track record of developing innovative, market changing technologies both off shore and on land, was the perfect company to join forces with to bring next level technology to the frac industry.”
Erik Zachariasen, Chief Technical Officer of Stimline, said, “Combining these domain experts creates vastly improved and digitally enabled workflows. Working together will accelerate innovation with better results, marking the beginning of a new open, digitally driven era in our industry that will enable us to elevate performance across the value chain.”
About Propell
Propell is the North American leader in well stimulation and completion equipment technology development, support and service. Propell is headquartered in Chilliwack, British Columbia, Canada with manufacturing facilities in Granbury, Texas, USA and Calgary, Alberta, Canada.
About Stimline
Stimline is a Norwegian based technology company with a vision to transform well intervention and completion operations with innovative products and technology. Stimline is headquartered in Kristiansand Norway with a manufacturing facility in Calgary, Alberta, Canada
View source version on businesswire.com: https://www.businesswire.com/news/home/20191002005080/en/
Contact information
James Easden
President
Propell
Tel: +1 604 794 2259
jeasden@propell.com
Ben Lovell
Vice President
Stimline
Tel: +47 38 60 00 16
ben.lovell@stimline.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
STELARA® (ustekinumab) Data Demonstrate Long-term Efficacy and Safety Results in Adults With Moderately to Severely Active Ulcerative Colitis in Phase 3 Extension Trial21.10.2019 12:12:00 CEST | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson today announced new two-year data from the long-term extension of the Phase 3 UNIFI study, demonstrating the efficacy and safety of ustekinumab through two years of treatment in adults with moderately to severely active ulcerative colitis (UC). These data are being presented today as a late-breaking data presentation (LB01) at the 27th UEGW congress.1 These data include 399 participants who were in clinical response eight weeks after receiving a single intravenous (IV) induction dose of ustekinumab and who were then randomised to receive ustekinumab subcutaneous (SC) 90 mg injections every 12 weeks (q12w), ustekinumab SC 90 mg injections every 8 weeks (q8w), or placebo, and who were treated in the long-term extension.1 Results showed that the majority of patients were able to sustain remission through to week 92 as assessed by symptomatic remission. The percentage of patients receiving ustekinumab SC who were in symptomatic remi
H.I.G. Capital Acquires an Office Complex in Lyon21.10.2019 11:10:00 CEST | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over $34 billion of equity capital under management, announced today that one of its affiliates has recently completed the acquisition of an office complex totaling approximately 29,000 sqm in Lyon, France’s second economic centre. The buildings are expected to be delivered in March 2021 and have already been 70% pre-let to an A rated French corporate tenant on a long-term basis. Terms were not disclosed. H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “Our focus in France is on high delivering quality assets with strong tenants that have the potential of becoming highly liquid institutional product as the result of the envisaged v
Rubicon Project Acquires RTK.io, A Leader in Open Source Header Bidding Solutions21.10.2019 10:00:00 CEST | Press release
Rubicon Project (NYSE:RUBI), the global exchange for advertising, today announced the acquisition of RTK.io, a leading provider of tools and services that bring simplicity and control to header bidding for publishers. RTK’s solution is built on Prebid, the same open source framework as Demand Manager, the header bidding solution Rubicon Project launched in May 2019. RTK’s technology and team enable Rubicon Project to extend its Demand Manager product portfolio and client base. In the coming months, the company plans to integrate the two solutions to address the growing needs of publishers globally. Rubicon Project acquired RTK in an all-cash transaction for $11 million. “RTK shares our commitment to open source and our passion for serving publishers with powerful tools and incredible client service,” said Michael Barrett, President and CEO of Rubicon Project. “The company has a strong group of header bidding experts and Prebid developers that adds depth to our already great team. Toget
Alibaba Kicks Off 2019 11.11 Global Shopping Festival21.10.2019 07:31:00 CEST | Press release
Alibaba Group Holding Limited (NYSE: BABA) today kicked off its 2019 11.11 Global Shopping Festival, taking the annual celebration into its second decade with a focus on “new consumption,” “new business” and actively contributing to a greener society. “Our goal is to stimulate consumption demand and support lifestyle upgrade in China through new brands and products. We will enable merchants in China and around the world to grow their businesses through data-driven product innovation and consumer insights, as well as leverage our recommendation technology and content-driven user engagement to delight consumers in urban coastal cities and less-developed areas of China,” said Fan Jiang, president of Taobao and Tmall. “Given its scale, minimizing environmental impact is essential and our technology will ensure it is a green 11.11 Global Shopping Festival.” A star-studded gala in Shanghai will count down to the world’s busiest 24 hours of shopping on the evening of November 10th. New Consum
Ebury Makes Landmark Acquisition21.10.2019 06:00:00 CEST | Press release
Ebury, one of Europe’s largest fintech companies, is pleased to announce its first acquisition: Frontierpay, an international payroll payments provider with offices in the UK and Singapore. Ebury’s strategy Fast-growing Ebury, has acquired the payroll payments business as part of its expanded technology investment programme. The acquisition forms part of Ebury’s broader strategy to invest in technologies that will help accelerate the automation of international payment processes, specifically targeting those within finance and treasury functions of mid-market corporates. In addition to payments Ebury is investing in technologies that improve the global trade process for SMEs including FX and currency hedging, international cash management and trade finance. It has announced major banking partnerships announced this year with SACE Simest and Unicaja Banco. Frontierpay acquisition Frontierpay, which was founded in 2009, delivers cost effective and reliable payroll payments across 180 cou
AROMA BIT Secures 350mn JPY in Series A Funding from Japan Tobacco and East Ventures21.10.2019 06:00:00 CEST | Press release
Aroma Bit, Inc. (Representative Director & CEO: Shunichiro Kuroki, headquarters: Chuo-ku, Tokyo, hereinafter "Aroma Bit"), a company which plans and develops compact odor imaging sensors and innovative services using these sensors, has undertaken an third-party allocation of new shares, up to 350 million yen in total, with Japan Tobacco Inc. (President & CEO: Masamichi Terabatake, headquarters: Minato-ku, Tokyo, hereinafter "JT") and existing shareholder East Ventures, in order to acquire the growth funds needed for future equipment development, business development, etc. Aroma Bit, Inc.: http://www.aromabit.com Purpose of the capital increase: Miniaturization and functionality enhancements for the purpose of expanding the digital olfactory market The compact odor imaging sensor developed by Aroma Bit is a unique odor imaging sensor which, unlike conventional gas sensors that can only detect specific substances, is able to generate a visualization pattern from a variety of odor inputs,