Allerød, Denmark (December 4, 2024) – Welltec® announces the part acquisition of Pipesnake AS, strengthening its coiled tubing (CT) portfolio, specifically targeting global CT markets for extended reach conveyance and milling services.
Pipesnake technology features a robust, compact, and modular design that can be scaled to any tubing size, offering high pull force and exceptional versatility in long horizontal sections. Utilizing a unique propulsion method, Pipesnake enhances conveyance, drilling applications, milling of frac plugs, scale, and cement in cased hole coiled tubing operations.
“The integration of Pipesnake technology into Welltec’s portfolio of CT intervention solutions is a strong and necessary move toward addressing the evolving operational challenges in extended and horizontal well markets. The Pipesnake solution will strengthen Welltec’s existing portfolio of CT conveyance offerings” says Tommy Eikeland, Chief Commercial Officer at Welltec.
Bjarne Langeteig, Chief Executive Officer of Pipesnake AS adds, “Pipesnake is pleased to join forces with Welltec, a leading global service company. I am extremely confident that the addition of Pipesnake will perfectly complement Welltec’s conveyance experience, and this partnership will enable us to deploy into global markets. We look forward to being part of the Welltec team.”
Pipesnake technology enables easy configuration adjustments based on torque and flow requirements. Its modularity allows the tractor to be purpose-built for various tubing inner diameters, providing flexibility across different operational setups.
More information
For more information on the conveyance services pertaining to this announcement, please contact Houssam Mourani (hmourani@welltec.com) – VP for WIS Sales at Welltec, or, Bjarne Langeteig (bl@pipesnake.no) CEO of Pipesnake.
About Welltec
Welltec® is a global technology company committed to optimizing energy for the future. Since our beginning in 1994, we’ve pioneered innovative solutions for oil and gas operators, rapidly expanding to become a leader in high-tech completion, intervention, and new energy solutions.
As the energy industry evolves, so does Welltec. Our solutions address the critical demands of today’s industry by focusing on three core areas: maximizing reservoir contact with advanced completion technologies; optimizing recovery through fast, efficient, lightweight intervention services; and minimizing environmental impact via sustainable energy solutions, including geothermal energy, and carbon capture, utilization, and storage (CCUS).
With more than 30 years of experience, Welltec is shaping the future of energy, collaborating with partners to deliver innovative solutions that enhance efficiency, ensure operational excellence, and drive sustainable energy advancements.
