In February 2012, Welltec A/S issued its inaugural bond programme with the issuance of USD 325 million 8% Senior Secured Notes, listed on the Luxembourg Stock Exchange’s Euro MTF Market.
This site provides access to financial information on Welltec, including annual and quarterly interim reports that are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements.
Welltec’s latest release is the Annual Report for 2016, presented Thursday, March 30th, 2017.
Challenging the low oil price
Welltec is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize the management and development of their assets throughout their life cycle. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and increase reservoir contact over a prolonged time period, while minimizing operating downtime. The effect is one increased Net Present Value; maximizing production and increasing total recovery while reducing capital investments or enabling more wells to be drilled for the same spend and in less time.
Our lightweight technology also reduces the complexity and hazard potential of operations, reducing the risk to personnel and increasing many safety aspects of the industry through smaller work crews, fewer lifts and lighter loads. We allow operators to avoid the use of rigs, significantly reducing the industry’s energy consumption and carbon emissions. Our ability to operate in extended reach and horizontal wells allows also operators to drill multiple wells from the same topside location, thereby further reducing the environmental footprint.
This is Welltec’s philosophy; to challenge conventions through disruptive innovation which transforms the oil and gas industry, such that it becomes safer and more sustainable while achieving higher recovery. In practice we develop, test and manufacture state-of-the-art technology that enables our clients, some of the world’s largest national and independent oil companies, to actively manage their wells with greater flexibility. With minimum logistics, we deliver time-efficient, cost-effective and inherently safer solutions that improve well integrity and performance in environments that are becoming increasingly complex, remote and hostile. Our game-changing solutions allow our clients to extend the productive life of their wells and pursue fields that would not otherwise be economically viable.
Our Well Tractor® founded the robotic well intervention market and continued market leadership is the result of constant innovation, rigorous IP protection and a commitment to completely addressing our clients’ challenges. Our Flex-Well® completion concept represents the next paradigm shift for the industry, with a simple yet revolutionary approach to the design and functionality of completions, adapting to changing reservoir conditions.
In an industry characterized by maturing fields and increasing depletion, the premium attached to this technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options, which are cleaner, safer and more sustainable.
Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding Welltec and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside Welltec’s control, and which could cause Welltec’s actual results to be materially different from these forward-looking statements. While Welltec believes that its assumptions concerning future events are reasonable, there are inherent difficulties in predicting certain important factors that could impact the future performance or results of Welltec’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. Welltec expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company announcement no. 1/2017 March 23, 2017 Welltec® will disclose its Annual Report for 2016 onRead more
March 14th, 2017 Welltec® will disclose its Annual Report 2016 on Thursday, March 30th, 2017 and wilRead more
17 November 2016 Company announcement no. 10/2016 Q3-2016 Interim Report and Investor Conference CalRead more
17 August 2016 Company announcement no. 8/2016 Q2-2016 Interim Report and Investor Conference Call ARead more
31 July 2016 Company announcement no. 7/2016 Welltec announces payment of interest CONTACT Michael KRead more
19 July 2016 Company announcement no. 6/2016 Withdrawal of Securities from the Luxembourg Stock ExchRead more