Probe Technologies Holdings Inc. said Dec. 1 it completed a strategic merger with Hunter Well Science Ltd., a Canadian-based provider of downhole logging solutions.
Financial terms of the transaction were not disclosed.
By joining forces with Hunter, Houston-based Probe said it plans to accelerate the commercial release of a combinable and technologically-advanced solutions platform that initially includes reservoir evaluation, production logging, well integrity and petrophysics tools and services.
"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," Federico Casavantes, president and CEO of Probe, said in a statement.
With headquarters in Calgary, Alberta, Hunter designs, engineers and produces cased hole technologies and provides petrophysics solutions to oilfield services companies around the world. The company, which was founded in 2009, also has a petrophysics, engineering and customer support facility in Arlington, Texas.
Probe is a supplier of cased hole logging and reservoir monitoring technology to oilfield services companies around the world. In mid-2017, the company’s management team partnered with private equity-firm Turnbridge Captial to enable a majority equity recapitalization and to accelerate the pursuit of identified internal and external growth initiatives.