Welltec® fellow Brian Schwanitz receives technical SPE award

The Society of Petroleum Engineers (SPE) Tuesday honored
Mr. Brian Schwanitz with the SPE Production and Operations Award at ATCE in Dubai, UAE.

Brian Schwanitz has a long career within the Oil and Gas industry. He has been with Welltec® since 2002 covering positions as General Manager USA, VP Marketing, VP Latin America and VP Client Training. Brian has also held the position as Senior Vice President in Middle East and North Africa and for the last few years as Welltec Fellow.

Schwanitz is being recognized for his 36 years of service to SPE, his technical contributions through papers, journals and courses, and his commitment to the education of future industry leaders.

“It is an honor to recognize Brian for his commitment and dedication to the oil and gas industry with the SPE Production and Operations Award. SPE international award winners were nominated by their colleagues and selected by their peers for their achievement and contributions and it’s my pleasure to congratulate him on receiving this prestigious international award from SPE,” said D. Nathan Meehan, 2016 SPE President.

SPE serves more than 143,000 members worldwide, sharing technical knowledge for the benefit of our industry. Each year, SPE presents awards that recognize members whose efforts have advanced petroleum technology, as well as their professional achievements and contributions to the industry and the society. Read more about the award system

ABOUT SOCIETY OF PETROLEUM ENGINEERS

The Society of Petroleum Engineers (SPE) is a not-for-profit professional association whose members are engaged in energy resources development and production. SPE serves more than worldwide 143,000 members. SPE is a key resource for technical knowledge related to the oil and gas exploration and production industry and provides services through its publications, events, training courses, and online resources at SPE.


Welltec® wins automation manufacturing prize

DIRA, Danish Robotic Network, has chosen Welltec® as this year’s winner of the award from a field of 34 nominees, beating out strong competitors including Carlsberg and Haarslev Industries

“The panel chose Welltec as this year’s recipient of the automation prize based upon Welltec’s convincing and solid demonstration that automated production in Denmark is certainly competitive. Welltec has put a lot of effort into the objective of having as much automation as possible within a short period. The implementation has been extensive and achieved a surprisingly short period of payback time, less than 6 months. At the same time, the company and its employees have been through a maturation process towards a high degree of automation. The panel believes that many Danish companies can find inspiration in Welltec’s example!”

Production on the way back to Denmark!
In 2015 Denmark installed a record high number of robots, a clear sign that Danish companies are increasingly opting to maintain and develop high-tech production in Denmark. It is an apparent trend that is recognized in the many diverse solutions that are submitted for the DIRA Automation Award.

DIRA, Danish Robotic Network, has the objective to introduce robots and other automation in order to increase productivity and improve the competitiveness of Danish companies. To increase the knowledge of the successful implementation, the DIRA Automation Award is awarded to a company that has established or maintained production in Denmark through the development and automation based on robotic technology in a pioneering manner that allows new processes or new products. The assessment also includes improvement of working environment, quality, delivery capability, sales and productivity.

 

Read the press release from DIRA here (in Danish)


Parliamentary visit at ONS 2016

ONS 2016 is humming and yesterday a delegation from the Norwegian parliament, Stortinget was received by Senior Vice President in Scandinavia Terje Skeie.

Terje Skeie, who could tell them what can be done in the upstream oil & gas industry in challenging times with low oil prices.

During the discussion between the parliamentary delegation and Welltec® opportunities for economic growth through applying technology and new approaches was a key subject, as a lever to meet and tackle the challenges in the oil and gas industry.

Among our solutions the economic benefits for the oil and gas industry in Norway of our Flex Well® approach were discussed, including them there is a faster and safer installation that leads to earlier production and reduced well construction costs.

The importance of keeping production high through intervention and maintenance work of existing wells, that can yield incremental barrels at a much lower marginal cost than drilling for new oil was also discussed. The impact is increased total recovery of the Norwegian oil and gas resources at an increased value for the Norwegian society.


Welltec® is looking for a Business Development Manager Well Completions, Middle East

SALES  – MIDDLE EAST

THE POSITION

The focus of the position is to drive the continued revenue growth through the introduction of our lower completion solutions with key clients in the Middle East region.

Key activities will include:

Continued commercial growth with existing clients to further incorporate Welltec completions solutions into their wells

Accessing new clients developing similar collaboration as one with existing clients

Interaction with the global Welltec completions team, including the product center, located in Esbjerg

The positions for the Business Development Manager are based in Abu Dhabi and Al-Khobar.

Read more at our career site

THE PROCESS

If you are interested in the position, please submit your resume and cover letter via the apply now button below, no later than September 8, 2016.

For more information about Welltec and the position please visit www.welltec.com or contact:

Paul Hazel, global Vice President for Completions Solutions,phazel@welltec.com
Wissam Chehabi, Southern Gulf Manager, wchehabi@welltec.com
Hani Sagr, Northern Gulf Manager, hsagr@welltec.com


Royal visit in Rio

During Mondays event at the Danish pavilion H.R.H. the Crown Prince visited Welltec®

H.R.H. the Crown Prince, the Danish Minister of Business and Growth Troels Lund Poulsen and the Danish Minister of Foreign Affairs Kristian Jensen, made a visit to the pavilion for a tour of the exhibition, a business session on sustainable development.

The day was arranged by The Confederation of Danish Industry and besides Welltec® some of the most important market leaders in Denmark participated.

Welltec® showcased our safe, sustainable and cost effective solutions at the event and Jørgen Hallundbæk together with Marcelo Batocchio had a talk with H.R.H. the Crown Prince about the importance of sustainable solutions in the industry.


Q2-2016 Interim Report and Investor Conference Call Announcement

17 August 2016
Company announcement no. 8/2016

Q2-2016 Interim Report and Investor Conference Call Announcement

CONTACT

Michael Krabbe, CFO
+(45)-3034-3000

Simon Stadil, Director, Treasury & Investor Relations
+(45)- 5213-8944

Welltec® will disclose its interim report for Q2-2016 on Thursday, August 25th, 2016 and will discuss the results 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:
Michael Krabbe, CFO

Simon Stadil, Director, Treasury & Investor Relations

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.


Welltec® awarded as the best exhibitor at NAICE

On August 2-4, Welltec® participated at the SPE NAICE in Lagos and was awarded Best Exhibitor in our category.

The conference theme at this year on Nigeria Annual International Conference & Exhibition (NAICE) was: “Transparency in the Oil and Gas Business: An Imperative for Energy Security and Stability”.

Welltec® was proud to sponsor the Marginal Field Workshop and shares how our technologies are assisting our clients to challenge the low oil price and maximize recoveries from their fields.

We presented two paper SPE-184262, A case history on the application of the WAB® in West Africa and SPE 184337, Efficient Installation of a Modular Straddle System for Deep Water Gas or Water Shut Offs. We showcased our safe and cost effective solutions including the award winning Welltec ® Annual Barrier (WAB®) and the Well Cutter® at our booth on the exhibition floor.


Welltec® at the Olympics

Welltec® will be attending the Olympics 2016 in the Danish pavilion. If you are attending the Olympics in Rio come and meet us. We will be in the Danish pavilion on Monday 15 August. From 11am to 10pm.

Learn more about our safe and cost effective solutions as well as our solutions for geothermal wells for an inexhaustible energy supply at minimum capital expenditure.

Read more about the Danish Pavillion: Visit Denmark


Welltec announces payment of interest

31 July 2016
Company announcement no. 7/2016

Welltec announces payment of interest

CONTACT

Michael Krabbe, CFO
+(45)-3034-3000

Pursuant to the Rules and Regulations of the Luxembourg Stock Exchange (edition 2012/07), section 903 and section 904(vi) it is noted that Welltec A/S has paid interest on the bonds per 31 July 2016.

For further information, please contact:
Michael Krabbe, CFO

About Welltec®
Welltec® is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had in 2015 and average of 894 dedicated employees across 29 countries. For the twelve months ended December 31, 2015, we had revenues and EBITDA of approximately USD 246 million and USD 96 million, respectively.


Withdrawal of Securities from the Luxembourg Stock Exchange, Euro MTF market

19 July 2016
Company announcement no. 6/2016

Withdrawal of Securities from the Luxembourg Stock Exchange, Euro MTF market

CONTACT

Martin Skovbjerg, CLO
+ (45)- 2633-5357

Michael Krabbe, CFO
+(45)-3034-3000

The Board of Directors of Welltec® has decided to commence on the withdrawal of the securities ISIN US950399AA37 & USK9897UAA62 (the “Securities”) from listing at the Luxembourg Stock Exchange, Euro MTF market, given the Securities predominantly are traded over the counter “OTC” via international banks, where liquidity and pricing quotes are available.

The withdrawal will become effective on October 20th 2016, three months following the date of this company announcement, after which the Securities will no longer be eligible for trading on the Euro MTF market. Furthermore, upon the withdrawal becoming effective Welltec® will no longer publish company announcements via the Luxembourg Stock Exchange nor adhere to the reporting requirements governing listed securities.

Finally, Welltec® has consulted Citibank in their capacity as Trustee in order to ensure the request for withdrawal remains in full compliance with prevailing loan documentation, and governing market standards.

For further information, please contact:
Martin Skovbjerg, CLO
Michael Krabbe, CFO

About Welltec®
Welltec® is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had in 2015 and average of 894 dedicated employees across 29 countries. For the twelve months ended December 31, 2015, we had revenues and EBITDA of approximately USD 246 million and USD 96 million, respectively.