HOUSTON – December 4, 2020 – Wellbore Integrity Solutions (WIS) and Reactive Downhole tools (RDT) jointly announce an exclusive global licensing agreement for the Reactive CHIMERA suite of Wellbore Cleanout tools.
“The CHIMERA portfolio is a great addition to the core business of WIS and the outstanding reputation the Reactive name has within the industry brings further validation to the deal”, states David MacNeill, President and CEO of Wellbore Integrity Solutions. “Additionally, the CHIMERA products provide good pull-through opportunities while complementing our current businesses, such as Wellbore Departure, Well Abandonment, Remedial and Intervention Services. As a result of this agreement, we anticipate significant service delivery efficiencies for our global customers and look forward to a mutually beneficial relationship.”
“Reactive is excited to partner with WIS as they strategically seek to grow their reach within the wellbore cleanout industry,” states Mike Allen, Chief Executive Officer of Reactive Downhole Tools. “This partnership will leverage the strengths of both RDT and WIS and allow us to take Chimera to the forefront of the wellbore cleanout market. I am confident that the months of preparation and effort that went into this agreement will not only enhance the quality of the product offering RDT started but will soon prove to be a top-tier offering both companies can be very proud to share.”
Under the terms of the agreement, WIS will have exclusive rights to manufacture, brand, rent and/or sell the comprehensive range of CHIMERATM Wellbore Cleanout Tools. These include the CerberusTM, ECO-MAXTM, NR-MagTM, Uni-BladeTM and Well PraetorianTM. Additionally, both companies agree to jointly develop new/complementary products for the CHIMERA portfolio.
The range of CHIMERA products will be made available through the global operational support footprint of WIS.
About Wellbore Integrity Solutions
Wellbore Integrity Solutions (WIS) is a customer-focused platform providing a comprehensive suite of products and services that enhance the life cycle of oil, gas, and geothermal wells. As a standalone independent company with a vertically integrated structure, WIS focuses on providing quality U.S. manufactured products delivered via a global engineering and field services footprint.
Through our unique position in the energy industry, we serve the wellbore integrity needs of energy companies, service companies, and local partners. Operating in over 27 countries with more than 45 facility locations, WIS is focused on our customers utilizing integrated resources which include approximately 1000 employees globally encompassing 49 nationalities around the world. To learn more, visit www.wellboreintegrity.com.
About Reactive Downhole Tools
Reactive Downhole Tools (RDT) is a provider of industry-leading swellable isolation tools to the global oil and gas industry. They provide their global customer base with quick turnaround solutions extending across the entire wellbore. Reactive provides bespoke, fit for purpose solutions and rapidly converts concept to completion. To learn more, visit www.reactivetools.com.
For Further Information, contact:
Wellbore Integrity Solutions
Roxanne Algra, Vice President, Marketing and Communications
Tel: +1 (281) 975-2500
Reactive Downhole Tools
Paul Higginson, Engineering Manager
Tel: +44 (0)1224 226491
*Mark of Wellbore Integrity Solutions