Churchill Drilling Tools, Mohawk Energy, and Coretrax have teamed up to offer an integrated approach to well lifecycle integrity and production optimization.
As previously reported, Coretrax acquired Churchill Drilling Tools in November 2019. Also, in May 2019, U.S. based Mohawk said it would, following an investment by Buckthorn, combine forces with Aberdeen-based Coretrax, the independent wellbore clean-up and abandonment specialist, which Buckthorn invested in during December 2018.
Now the three firms have joined forces to launch what has been described as the "new Coretrax," under its new brand, "with a unified innovation offering designed to improve production performance and well intervention efficiencies."
Kenny Murray continues as CEO of Coretrax, which now employs 250 people globally across the UK, Middle East, US, and South East Asia.
John Fraser, formerly Global Business Development Director at Coretrax has been appointed Chief Operating Officer. Former Mohawk Energy CEO Scott Benzie is now Chief Technology Officer at Coretrax.
Michael De-Rhune has joined the new leadership team as Chief Financial Officer. He was previously Group CFO at Excellence Logging and has held senior financial roles with Bibby Offshore, CEONA and Subsea 7.
The company has also said it has strengthened its support services with key appointments across the business in HR, finance, global QHSE and integration.
Kenny Murray, CEO of Coretrax said: “Oilfield challenges continue to grow in complexity and our mission is to push boundaries to support the industry with novel and advanced ways to tackle well integrity and production optimization.
"Given current industry challenges with the low oil price and COVID-19, it’s ever more important that we support the sector with a continuous focus on reducing rig costs. Integrating the impressive people and products from Churchill Drilling Tools and Mohawk Energy with Coretrax allows us to provide life-of-well solutions from drilling to decommissioning, directly targeted at production performance and integrity issues."
Coretrax says it ow has a portfolio of over 50 technologies offered through three innovation platforms and plans to launch disruptive technologies to market this year. The company intends to reinvest more than 15% of revenues into R&D each year.
Murray added: “Our customers can expect the same responsiveness and problem-solving approach; but will benefit from a much broader portfolio of unified technologies and solutions. We also intend to increase our manufacturing capabilities, supporting the local economies in which we work.”
Churchill Drilling Tools was founded in 2002 with operations in the UK, US and Middle East. Mohawk Energy was formed in 2004 in Houston providing innovative tubular expansion technologies. Aberdeen headquartered Coretrax has a Middle East footprint including Saudi Arabia, Abu Dhabi, Doha and Qatar with other operations in Houston and Malaysia.