{"id":5153,"date":"2024-11-04T23:35:22","date_gmt":"2024-11-04T21:35:22","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=5153"},"modified":"2024-11-04T23:35:22","modified_gmt":"2024-11-04T21:35:22","slug":"enersol-to-acquire-deep-well-services-a-technology-enabled-energy-services-company","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=5153&lang=en","title":{"rendered":"Enersol to Acquire Deep Well Services, a Technology-Enabled Energy Services Company"},"content":{"rendered":"<p>ADNOC Drilling Company PJSC (\u201cADNOC Drilling\u201d or the \u201cCompany\u201d) (ADX symbol: ADNOCDRILL \/ ISIN: AEA007301012) and Alpha Dhabi Holding PJSC (\u2018\u2019Alpha Dhabi\u2019\u2019) (ADX: ALPHADHABI) announced today that their joint venture Enersol (the \u201cJV\u2019\u2019) has agreed to acquire a 95% equity stake in Deep Well Services (DWS), for approximately $223 million<sup>1\u00a0<\/sup>including performance-based payments. Completion of the transaction is subject to obtaining the necessary regulatory approvals and other customary conditions precedent.<\/p>\n<p>Established in the United Sates in 2008, DWS specializes in several advanced technologies and services within the energy sector. Its patented Hydraulic Completion Units (HCU) are designed for high-pressure, long lateral, and multi-well completion operations,\u00a0enabled by its data analytics software, BoreSite\u00ae and its training and development, which offers globally accredited programs that enhance operational safety and efficiency. DWS has additionally established joint venture; AutoSep Technologies, which focuses on automating flowback operations. DWS works in numerous basins across North America and its services has been adopted by over 70 E&amp;P companies ranging from small-private operators to large-cap national energy companies.<\/p>\n<p>DWS, through Enersol, will play a role in contributing to the development of the UAE\u2019s conventional and unconventional energy resources. Enersol companies will support the delivery of ADNOC Drilling\u2019s recent $1.7 billion\u00a0contract award to deliver 144 unconventional wells to ADNOC Group by leveraging the various technologies available to it.<\/p>\n<p>For the full year 2023 DWS delivered strong financial performance, with revenue over $205 million. It also delivered a robust EBITDA margin and\u00a0is expected to yield free cash flow of more than 10%. DWS\u2019s attractive operational and financial profile\u00a0is aligned\u00a0with Enersol\u2019s acquisition strategy to acquire, and invest in, multiple businesses and foster a scalable portfolio, enhancing market value and optimizing operational efficiencies.<\/p>\n<p>The acquisition serves as an additional marker in building Enersol\u2019s next-generation technology portfolio, which will present the JV with an\u00a0additional\u00a0avenue for growth across untapped markets as well as further upside potential in the long term.<\/p>\n<p>This is Enersol\u2019s fourth acquisition, having previously agreed to acquire, subject to regulatory approvals, EV, a downhole visual analytics company, a 51% stake of NTS Amega, a leading global manufacturer of advanced precision equipment and solutions provider for the energy sector, and a 67% stake in Gordon Technologies, a US-based provider of measurement while drilling services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ADNOC Drilling Company PJSC (\u201cADNOC Drilling\u201d or the \u201cCompany\u201d) (ADX symbol: ADNOCDRILL \/ ISIN: AEA007301012) and Alpha Dhabi Holding PJSC (\u2018\u2019Alpha Dhabi\u2019\u2019) (ADX: ALPHADHABI) announced today that their joint venture Enersol (the \u201cJV\u2019\u2019) has agreed to acquire a 95% equity stake in Deep Well Services (DWS), for approximately $223 million1\u00a0including performance-based payments. Completion of the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,59,130,43,87,15,27,3716],"tags":[2258,1912,7039,7031,7037,7043,7033,7035,7041,7045,365],"class_list":["post-5153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-energy-en","category-featured-en","category-finance-investment-en","category-gcc-en","category-press-releases","category-technology","category-uae","tag-adnoc","tag-alpha-dhabi-holding","tag-compelling-financial-performance","tag-deep-well-services","tag-dws","tag-energy-sector","tag-energy-services","tag-fourth-acquisition","tag-next-generation-technology","tag-technology-enabled-energy","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Enersol to Acquire Deep Well Services, a Technology-Enabled Energy Services Company - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=5153&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enersol to Acquire Deep Well Services, a Technology-Enabled Energy Services Company - sahfy\" \/>\n<meta property=\"og:description\" content=\"ADNOC Drilling Company PJSC (\u201cADNOC Drilling\u201d or the \u201cCompany\u201d) (ADX symbol: ADNOCDRILL \/ ISIN: AEA007301012) and Alpha Dhabi Holding PJSC (\u2018\u2019Alpha Dhabi\u2019\u2019) (ADX: ALPHADHABI) announced today that their joint venture Enersol (the \u201cJV\u2019\u2019) has agreed to acquire a 95% equity stake in Deep Well Services (DWS), for approximately $223 million1\u00a0including performance-based payments. 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