Royal participation during state visit in Ghana

Last week Welltec participated in the Danish State Visit to Ghana where Her Majesty Queen Margrethe II of Denmark was a part of the delegation. During the trade fair, Her Majesty was received by Anita Arthur, Dapo Adeniyi and Jacob Federspiel of Welltec and was introduced to our activities in Ghana, which has a growing economy and demand for energy. Welltec has been working in Ghana since 2013 and joined the State Visit to strengthen ties to Ghanaian stakeholders and the energy sector.

 


Welltec prices $340 million senior secured notes offering

Company announcement no. 9/2017
November 18th  2017

CONTACT

Martin Skovbjerg
E-mail address: mskovbjerg@welltec.com

Allerød, Denmark (November 17, 2017) — Welltec International ApS (Welltec) has priced its offering of $340 million in aggregate principal amount of 9.500% senior secured notes due 2022 (New Notes) through one of its subsidiaries, Welltec A/S (Issuer). The offering is expected to close on November 28, 2017. Welltec intends to use the proceeds of the offering (i) to repay certain outstanding indebtedness, including to repurchase for cash any and all of the Issuer’s existing 8% Senior Secured Notes due 2019 (2019 Notes) through a tender offer (Tender Offer), and the satisfaction and discharge and ultimate redemption of all 2019 Notes not repurchased in the Tender Offer (if any) and (ii) to pay related fees and expenses.

The New Notes are being offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (Securities Act), and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. No assurance can be given that the offering will be completed. The New Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Welltec

Welltec develops and delivers technology and solutions for the oil and gas industry. Our solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells.

Disclaimer

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

This announcement is being distributed in the United Kingdom only to, and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (Order) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as relevant persons). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, relevant persons.

This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Directive 2003/71/EC (Prospectus Directive), as implemented in Member States of the European Economic Area, and, once fully effective, under Regulation (EU) 2017/1129 (Prospectus Regulation). The offer and sale of the notes will be made pursuant to an exemption under the Prospectus Directive and, once fully effective, under the Prospectus Regulation, from the requirement to produce a prospectus for offers of securities.

Neither the content of Welltec’s website nor any website accessible by hyperlinks on Welltec’s website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Forward-Looking Statements

In addition to historical information, this news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. From time to time, we provide forward-looking statements in other materials we release to the public as well as oral forward-looking statements. We have tried, wherever possible, to identify such statements by using the words “believes,” “estimates,” “aims,” “targets,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “on-going,” “potential,” “product,” “projects,” “guidance,” “seeks,” “may,” “will,” “could,” “would,” “should” or, in each case, their negative, or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. The absence of such terminology does not necessarily mean that a statement is not forward-looking. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are based on potentially inaccurate assumptions and are not guarantees of future performance and that our actual results of operations, financial condition and liquidity and the development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this news release. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this news release, those results or developments may not be indicative of results or developments in subsequent periods.

All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. We undertake no obligation to update any forward-looking statements. Forward-looking statements speak only as of the date they are or were made, and we do not intend to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this news release, currently unknown facts or conditions or the occurrence of unanticipated events, except as required by law.


Welltec launches senior secured notes offering

Company announcement no. 8/2017
November 8th  2017

Welltec launches senior secured notes offering

CONTACT

Martin Skovbjerg
E-mail address: mskovbjerg@welltec.com

DOCUMENTS

Welltec – Press Release for Tender Offer
Welltec – OTP and Press Release

Allerød, Denmark (November 8, 2017) — Welltec International ApS (Welltec) is launching an offering of $340 million in aggregate principal amount of senior secured notes due 2022 (New Notes) through one of its subsidiaries, Welltec A/S (Issuer). Welltec intends to use the proceeds of the offering (i) to repay certain outstanding indebtedness, including to redeem the Issuer’s existing 8% Senior Secured Notes due 2019 (2019 Notes) in full though a concurrently announced tender offer (Tender Offer) to purchase for cash any and all of the 2019 Notes and the satisfaction and discharge and ultimate redemption of all 2019 Notes not repurchased in the Tender Offer (if any) and (ii) to pay related fees and expenses.

The New Notes are being offered in a private placement transaction to qualified institu-tional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (Securities Act), and outside the United States in accordance with Regulation S under the Securities Act. No assurance can be given that the offering will be completed or, if com-pleted, as to the terms on which it will be completed. The New Notes have not been reg-istered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Welltec
Welltec develops and delivers technology and solutions for the oil and gas industry. Our solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells.

Disclaimer
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

This announcement is being distributed in the United Kingdom only to, and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (Order) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as relevant persons). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, relevant persons.

This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Directive 2003/71/EC (Prospectus Directive), as implemented in Member States of the European Economic Area, and, once fully effective, under Regulation (EU) 2017/1129 (Prospectus Regulation). The offer and sale of the notes will be made pursuant to an exemption under the Prospectus Directive and, once fully effective, under the Prospectus Regulation, from the requirement to produce a prospectus for offers of securities.

Neither the content of Welltec’s website nor any website accessible by hyperlinks on Welltec’s website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Forward-looking statements
In addition to historical information, this news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. From time to time, we provide forward-looking statements in other materials we release to the public as well as oral forward-looking statements. We have tried, wherever possible, to identify such statements by using the words “believes,” “es-timates,” “aims,” “targets,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “on-going,” “potential,” “product,” “projects,” “guidance,” “seeks,” “may,” “will,” “could,” “would,” “should” or, in each case, their negative, or other variations or comparable ter-minology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. The absence of such terminology does not necessarily mean that a state-ment is not forward-looking. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on cir-cumstances that may or may not occur in the future. We caution you that forward-looking statements are based on potentially inaccurate assumptions and are not guarantees of future performance and that our actual results of operations, financial condition and liquidity and the development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this news release. In addition, even if our results of operations, financial condition and liquidi-ty, and the development of the industry in which we operate are consistent with the for-ward-looking statements contained in this news release, those results or developments may not be indicative of results or developments in subsequent periods.

All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. We undertake no obligation to update any forward-looking statements. Forward-looking statements speak only as of the date they are or were made, and we do not intend to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this news release, currently unknown facts or conditions or the occurrence of unanticipated events, except as required by law.


Q3-2017 Interim Report and Investor Conference Call Announcement

Company announcement no. 6/2017
October 24th  2017

Q3-2017 Interim Report and Investor Conference Call Announcement

CONTACT

Søren Søgaard Suhr, Acting CFO
+45 20 34 04 88 or

Anders Q. Christensen, Corporate Chief Accountant
+45 24 23 22 96

Welltec® will disclose its interim report for Q3-2017 on Monday October 30th 2017 and will discuss the result during an investor conference call at 5 pm CET.

The conference call will be available for bond holders, prospective investors, broker dealers and securities analysts and can be accessed by dialing in a few minutes before the start and informing the operator that you would like to participate in Welltec’s investor conference call.

Relevant dial-in details and conference ID can be obtained by contacting bkjelmann@welltec.com and registering for the call.

Finally, the Interim report will be made available on the “Investor” section of Welltec’s website at
http://www.welltec.com/investors/download-center/

For further information, please contact:

Søren Søgaard Suhr, Acting CFO, Cell: +45 20 34 04 88 or
Anders Q. Christensen, Corporate Chief Accountant, Cell: +45 24 23 22 96

Company Profile
Welltec® develops and delivers technology and solutions intended to transform the oil and gas industry. Our game-changing solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including the most extreme and hostile, such as deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells. Our lightweight solutions are based on a vision to improve safety while reducing environmental risks, fuel consumption and carbon footprints.


CHANGE IN CFO POSITION

Chief Financial Officer, Mr Michael Krabbe, has resigned from his position as CFO with Welltec A/S to pursue new challenges as CFO with Maersk Supply Service A/S. Mr Krabbe’s last day with Welltec A/S will be November 30, 2017.

Søren Søgaard Suhr, currently Finance Director Treasury of Welltec A/S, will replace Mr Krabbe as Acting CFO and will assume the responsibilities of CFO with immediate effect. For the period to November 30, 2017, Mr Krabbe will continue to work for Welltec A/S and the Acting CFO. During this time, Mr Suhr and Mr Krabbe will work closely together to ensure a smooth transition.

Welltec A/S would like to take the opportunity to thank Mr Krabbe for his contribution to the company over the last 6 years and wish him all the best in his future career.

 


AWARDED A CONTRACT BY PETRONAS

Welltec was awarded a contract by PETRONAS Carigali Sdn. Bhd. for the Provision of Downhole Tractoring Equipment and Services, Offshore East Malaysia.

Welltec Oilfield Services (M) Sdn. Bhd. (“Welltec”) is pleased to announce that it has been awarded a two-year contract by PETRONAS Carigali Sdn. Bhd. (“PCSB”) for the provision of Downhole Tractoring Equipment and Services for its operations in East Malaysia. The scope of the work is for rig support and rigless well intervention including Tractor Conveyance, Mechanical Services, Tubing Cutting, Clean-Out and Milling e-line robotic intervention solutions in the East region assets group, including Sabah and Sarawak.

This is an exciting award for Welltec which enables PCSB to utilize innovative technologies which are offered by Welltec to support their rig operations on development wells and to optimize the full production potential of existing wells.

Espen Dalland, Welltec Vice President APAC region, explains “This award builds on Welltec’s impeccable HSE track record in Malaysia It also allows Welltec to further demonstrate our unique, inherently safer, robotic electric line deployed intervention technologies coupled with an attractive value proposition, compared to the traditional pipe based intervention methods, by supporting ongoing projects for PCSB in East Malaysia.”

Welltec is the largest provider of intervention technology for e-line based solutions covering mechanical services, pipe cutting, clean-out and milling solutions being successfully developed and applied throughout the world over the last two decades. As part of Welltec Completion Solutions, Welltec provides high performance annular packers and completions solutions for well integrity and optimized reservoir management.

 

 


Interim Report Q2-2017

Company announcement no. 5/2017
August 29th  2017

Interim Report Q2-2017

CONTACT

Michael Krabbe, CFO
+(45) 30 34 30 00
mail: mkrabbe@welltec.com

Søren Søgaard Suhr, Director, Treasury & Investor Relations,
mobile: +45 2034 0488
mail: ssuhr@welltec.com

INVESTOR CONFERENCE CALL

Welltec® will discuss its results during an investor conference call today at 5pm CEST. The conference call will be available for bond holders, prospective investors, broker dealers and securities analysts and can be accessed by dialing in a few minutes before the start and informing the operator that you would like to participate in Welltec’s investor conference call. Relevant dial-in details and conference ID can be obtained by contacting bkjelmann@welltec.com. Finally, the Interim Report will be available on the “Investor” section of Welltec’s website at http://www.welltec.com/investors/download-center/.

Welltec International ApS
Gydevang 25, DK-3450 Allerød
Central Business Registration No: 30 69 50 03

For further information, please contact:
Michael Krabbe, Chief Financial Officer,
mobile: +45 3034 3000
mail: mkrabbe@welltec.com

Søren Søgaard Suhr, Director, Treasury & Investor Relations,
mobile: +45 2034 0488
mail: ssuhr@welltec.com

Company Profile
Welltec® develops and delivers technology and solutions intended to transform the oil and gas industry. Our game-changing solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including the most extreme and hostile, such as deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells. Our lightweight solutions are based on a vision to improve safety while reducing environmental risks, fuel consumption and carbon footprints.


Q2-2017 Interim Report and Investor Conference Call Announcement

Company announcement no. 4/2017
August 18th  2017

Q2-2017 Interim Report and Investor Conference Call Announcement

CONTACT

Michael Krabbe, CFO
+(45) 30 34 30 00

Kasper Berner, Treasury & Investor Relations
+(45) 52 13 89 03

Welltec® will disclose its interim report for Q2-2017 on Tuesday August 29th 2017 and will discuss the results during an investor conference call at 5 pm CEST.
The conference call will be available for bond holders, prospective investors, broker dealers and securities analysts and can be accessed by dialing in a few minutes before the start and informing the operator that you would like to participate in Welltec’s investor conference call.

Relevant dial-in details and conference ID can be obtained by contacting bkjelmann@welltec.com and registering for the call.

Finally, the Interim report will be made available on the “Investor” section of Welltec’s website at
http://www.welltec.com/investors/download-center/

For further information, please contact:
Michael Krabbe, CFO, Cell: +45 30 34 30 00 or
Kasper Berner, Treasury & Investor Relations, Cell: +45 52 13 89 03

Company Profile
Welltec® develops and delivers technology and solutions intended to transform the oil and gas industry. Our game-changing solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including the most extreme and hostile, such as deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells. Our lightweight solutions are based on a vision to improve safety while reducing environmental risks, fuel consumption and carbon footprints.


AWARDED AS THE BEST EXHIBITOR

FOR THE SECOND YEAR RUNNING WELLTEC® IS THE PROUD WINNER OF THE “THE BEST EXHIBITOR” AWARD FROM NAICE

The SPE Nigeria Annual International Conference & Exhibition (NAICE) 2017 was successfully held in Lagos with the overall theme “Riding the Waves of Boom and Bust: Common Objectives, Diverse Perspectives”

With an enthusiastic team manning the stand, Welltec® was able to describe and demonstrate the innovative nature of both the Drilling & Completion Solutions and the Intervention solutions that were on display. The energy of the team and the creativity of the solutions were part of the five categories judged over the three days, that contributed towards Welltec being selected as the winner of the “SPE award for Best Exhibitor” within the category.

Senior Vice President of Africa, Gbenga Onadeko speaking on the panel session “Impact of cycle of Oil & Gas Boom & Glut: Economic Imperatives and opportunities” emphasized the importance of technology and innovation to maximize Operator ROI within the current oil price era.

The SPE NAICE (Nigeria Annual International Conference and Exhibition) has grown to be the largest upstream Oil and Gas event in Africa. Welltec wish to thank the SPE and all clients and friends who visited the stand which led to Welltec receiving this award.

We are looking forward to continued strong relationships and follow up on the opportunities identified.


Q1-2017 Interim Report and Investor Conference Call Announcement

Company announcement no. 2/2017
May 17th  2017

Q1-2017 Interim Report and Investor Conference Call Announcement

CONTACT

Michael Krabbe, CFO
+(45) 30 34 30 00

Søren Søgaard Suhr, Director, Treasury & Investor Relations
+(45) 20 34 04 88

Welltec® will disclose its interim report for Q1-2017 on Wednesday May 24th 2017 and will discuss the results during an investor conference call at 5 pm CEST.

The conference call will be available for bond holders, prospective investors, broker dealers and securities analysts and can be accessed by dialing in a few minutes before the start and informing the operator that you would like to participate in Welltec’s investor conference call.

Relevant dial-in details and conference ID can be obtained by contacting bkjelmann@welltec.com and registering for the call.
Finally, the Interim report will be made available on the “Investor” section of Welltec’s website at http://www.welltec.com/investors/download-center/

For further information, please contact:
Michael Krabbe, CFO, Cell: +45 30 34 30 00 or
Søren Søgaard Suhr, Director, Treasury & Investor Relations, Cell: +45 20 34 04 88

Company Profile
Welltec® develops and delivers technology and solutions intended to transform the oil and gas industry. Our game-changing solutions are dedicated to optimizing the management and development of clients’ assets, both in the form of well completion technology and intervention services required to ensure performance and integrity. We operate in all types of onshore and offshore well environments, including the most extreme and hostile, such as deepwater, subsea, extended reach, heavy oil and unconventional gas and oil wells. Our lightweight solutions are based on a vision to improve safety while reducing environmental risks, fuel consumption and carbon footprints.