Welltec set to be acquired by Superior Energy Services

Welltec set to be acquired by Superior Energy Services

The two majority shareholders of the Danish oil & gas technology services provider Welltec have accepted a tender offer from Superior Energy Services for all of their shares in Welltec. 

“The majority owners initiated a process to find a new suitable long-term owner of Welltec. After a structured process to identify the best future owner of Welltec, we are pleased to present Superior Energy Services as Welltec’s future owner post-closing of transaction. We get an owner and partner with complementary geographical market positions and technology portfolios to Welltec’s that further strengthens our long-term competitive position,” says Niels de Coninck-Smith, Chairman of Welltec. 
 
Since Exor and 7-Industries became majority shareholders of Welltec in 2021, the company has followed a strong growth trajectory. The revenue has gone from $250 million in 2021 to $431 million in 2025. 
 
“In the past five years, we’ve increased our investments including acquisitions in new technology, thus expanding our technology portfolios significantly. Furthermore, we have continued to improve our robotic manufacturing and international field operations. Our employees have done an incredible job and we’re proud of where the company is today. Together with Superior, we will now be able to take Welltec to the next level by providing a wider suite of services and solutions in even more geographies around the world,” says Peter Hansen, CEO of Welltec. 

Complementary businesses

With the ownership, Superior gains access to Welltec’s technology portfolios & pipelines, market positions, and competitive edges in maximizing production from existing fields through well interventions. Superior also gains Welltec’s niche metal expandable products used for zonal isolation and integrity barriers in well construction.  

“Welltec’s technology, manufacturing capabilities and execution are widely recognized as best-in-class in our industry for helping customers improve the recovery of reserves from existing wells. By combining Welltec’s differentiated technology portfolio with Superior’s scale and international presence, we believe there are meaningful opportunities to expand the reach of these technologies and deliver additional value to customers around the globe. We look forward to welcoming the Welltec team and building on their success,” says Dave Lesar, Chairman and Chief Executive Officer of Superior Energy Services.

With the future ownership, Welltec will stand stronger in an industry characterized by consolidation at both the customer level and amongst its service provider peers. Welltec will continue to deliver the same leading high-quality oil & gas well services and products the customers have come to expect.   

Welltec will continue to operate under the Welltec brand name delivering market-leading intervention, isolation, and completion services & products while remaining pioneering and agile. 

The acquisition of Welltec will be finalized after relevant regulatory approvals are obtained expectedly in the first half of 2027.