Welltec A/S, a market leader in Completion and Intervention within the energy industry, has announced the acquisition of Autentik AS, a niche technology provider specialising in electric wireline fishing and interventions.
The acquisition represents a strategic move by Welltec to expand its downhole intervention capabilities and is in line with the company’s vision to cement itself as the number one provider of hi-tech, innovative products and services.
“We are excited to welcome Autentik into the Welltec family,” said Tommy Eikeland, CCO Welltec. “There is a mutual admiration for innovation and understanding of risk-taking which, to a certain level, is required when developing new technology. We have only respect for the work done to build the company from the ground up. Together with their interventions expertise, this will add tremendous value and momentum to our organization and enhance our ability to provide our clients with cutting-edge solutions. We have already performed several jobs together and the advantages we can bring are evident. We look forward to working together to drive further growth and innovation in our industry.”
“This partnership will merge Autentik´s true passion for innovation and new solutions to transform wireline interventions together with Welltec´s global reach and market leadership in Completion and Intervention, “added Roy Kristiansen, CEO of Autentik. “This is a historic step in the life of Autentik, and a move that will benefit the clients and partners we work with. We couldn´t ask for a better fit, and we look forward to joining the Welltec team”
With the Wellgrab™ ERFT rated to 100,000 lbs tensile load, it matches perfectly with Welltec’s 100,000 lbs Well Stroker® tool. This combination enables operators to remotely and repeatedly ‘latch’ and engage with a downhole fish and sustain a pull force of up to 100,000 lbs which would otherwise not be possible on e-line. In the majority of cases, it is this sustained application of force that provides the ability to free a stuck downhole fish and enables recovery.
These capabilities have already been put to test by multiple international clients. In one instance, a stuck milling bit was retrieved using the fully surface-controllable Wellgrab ERFT and 100K Well Stroker. The engagement length of the fish was only 29mm in this particular case, yet having precise control over the operation with high fidelity meant that the fish could be engaged and retrieved.
Autentik has proven its ability to deliver such innovative solutions to its clients, and its expertise – particularly in the downhole fishing domain – will greatly complement Welltec’s existing portfolio. With this acquisition, Welltec will be better positioned to serve its clients with the latest technology advancements and solutions.
The current portfolio of services under Autentik already integrates seamlessly with Welltec’s unique solutions – together with Welltec’s manufacturing capabilities, the merger will bring an accelerated technology shift in how to conduct well access operations, safely and efficiently.