Probe Technologies Holdings, Inc. has announced it has completed a strategic merger with Hunter Well Science Ltd. that significantly expands its product offering for its international customer base.
Headquartered in the USA, Probe has major operations based in Aberdeen. By joining forces with Hunter, it plans to accelerate the commercial release of a combinable solutions platform that initially includes reservoir evaluation, production logging, well integrity and petrophysics tools and services.
Federico Casavantes, president & CEO of Probe said: “Short-term, the merger of Probe and Hunter will allow us to better serve our existing customers by expanding our combinable technology, and as we work together to continue to improve our focus on customer support, this will also lead to attracting new customers in new geographies.
“Long-term, our partnership will enable us to dramatically accelerate product development, as we move to rapidly fill gaps in the technology used in high-end cased-hole formation evaluation, array production logging and well integrity solutions, and move to integrate Hunter’s state-of-the-art modular tool manufacturing techniques into Probe’s extensive product offering. We’re also very excited to welcome industry veterans Lane Roberts, Martin Barratt and Richard Odom to the Probe family, as many among our respective teams have known each other for many years.”
Lane Roberts, president & CEO of Hunter, said: “On behalf of all of the Hunter Well Science employees and stakeholders, we view this partnership as a unique opportunity to channel increased efforts and investment into new and compatible technologies to continue to help our customers serve their markets with the very best solutions and services. The Probe-Hunter association positions us for continued growth, as we stand together to provide intelligent technology and reliable solutions that address the needs of our sector.”
Todd Tomlin, partner of Turnbridge Capital, commented: “In July of this year, we joined with Probe managers and employees to recapitalize the company. We are now delighted to be investing further in the expanding Probe-Hunter Well Science team, and we also benefit from prior relationships with Lane and his team. The combination of these companies accelerates delivery of technologically differentiated products. We are very excited about the potential and capabilities of the combined company.”
Financial terms of the transaction were not disclosed.
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