Rubicon Oilfield International has acquired Canadian-based specialist inflatable products and technology manufacturer World Oil Tools.
Financial terms of the transaction were not disclosed.
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According to Rubicon, the acquisition of the assets, people and operating business of World Oil Tools will further strengthen its portfolio of products in the Completions Solutions business segment.
The company intends to provide effective customer support and accelerate market penetration through the product lines of World Oil.
Rubicon Oilfield International president and CEO Michael Reeves said: “Rubicon is well positioned to advance the reach of World’s product offering into new and under-represented geographies.
“Providing World’s extraordinary people and best-in-class technology with access to Rubicon’s global customer service capabilities will immediately enable our new teammates to offer higher value and more comprehensive completions solutions to their customers.”
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By GlobalDataWorld Oil noted that the transaction will help the companies grow their businesses.
Established in 2000, World Oil Tools offers products and technology for use in downhole completions operations, serving E&P operators and service companies.
Last month, Rubicon acquired downhole products company Choice Completions Systems, which supplies products for unconventional multi-stage completions.
Rubicon stated that it will invest in the growth of Choice product lines, allowing the latter to provide improved services to its customers in the US and worldwide.
Based in Houston, Texas, Rubicon aims to be a global oilfield products and equipment company, both organically and through acquisitions.
