Stratagraph acquires Technical Drilling Services to boost capabilities and scope
Stratagraph, a supplier of geological services to the oil and gas industry for the past six decades, has announced the purchase of Technical Drilling Services Inc. (TDS), in the largest acquisition in the company's history.
The acquisition will complement Stratagraph's existing portfolio by adding nearly 20 state-of-the-art mud logging units to the company's vast fleet. TDS, a mud logging and consulting services company based in Oklahoma City, will expand Stratagraph's logging capacity to meet growing client needs and widen its regional footprint. The acquisition brings with it well maintained units ready for immediate deployment, as well as an operational office in Oklahoma City. The integration of TDS into Stratagraph complements the launch of the company's new geosteering and production chemical divisions, StrataSteering and StrataChem.
Ashby Pettigrew, president of Stratagraph, stated, "Acquiring TDS is a transformational transaction that aligns perfectly with our growth strategy by expanding the organization's scale, diversifying our regional footprint and strengthening our financial portfolio. Additionally, the acquisition provides Stratagraph with the ability to expand our services to new clients in the Oklahoma and Ark-La-Tex regions, while exponentially increasing our fleet to meet the growing demands of our current customers."
William Hagan, Stratagraph's chief executive officer, said, "TDS is a company whose vision and goals closely align with the core principles that my father laid down when he formed this company 60 years ago. This acquisition will play an important role in expanding and improving processes for the company, our employees and our customers. This is one of the many strategic initiatives Stratagraph has taken to further grow our reputation as a global leader in the geological services sector and ensure the success of this organization for many more years to come."
David Record, former president of TDS, will continue to serve as a consultant to ensure the smooth transition of TDS into the Stratagraph family. Record commented, "Together, our companies embody more than 100 years of combined experience in the geological services industry and a shared commitment to traditional, honest operating values. Through this strategic acquisition, we will continue to identify new partnerships and opportunities to bolster Stratagraph's existing international reputation in providing quality geological services."