Schlumberger expands offering with Peak Well Systems acquisition

Schlumberger has acquired Peak Well Systems, a Perth-based company focussed on the design and development of downhole tools for flow control, well intervention and well integrity.

According to Schlumberger, the addition of Peak’s mechanical and remedial solutions for cased-hole well intervention strengthens the company’s production services portfolio with a broader offering of mechanical services to its global customers.

“In the past few years, Peak has developed a portfolio of flow control technologies that are recognised as some of the leading products in the industry largely due to their simplicity, performance, reliability and ease of retrievability,” Hinda Gharbi, president, Wireline, Schlumberger, said.

“Bringing Peak technologies into our existing production services portfolio will give us the opportunity to offer our customers fully integrated well intervention solutions on electric line, mechanical slickline or digital slickline.”

Peak Well Systems chief executive officer Nigel Avern believes Schlumberger’s acquisition is positive news for both companies and for the industry in general.

“We have been working closely with Schlumberger on several collaborations and initiatives during the past year and what has become clearly apparent is our compatibility. This is a natural fit for both companies and one which will ultimately benefit our customers,” Avern said.

Peak designs and manufactures advanced downhole tools that isolate, extend well life, restore well integrity and enhance well performance with SIM retrievable bridge plugs and disruptive technologies, such as the SIMULTRA plug, which is a high performance retrievable bridge plug.

Existing Peak customers will continue to have access to the full range of its well intervention products, and will now benefit from a wider distribution network and world-class service delivery platform offered by Schlumberger in the global marketplace.

Schlumberger acquired Peak from growth equity investor Summit Partners and the company’s founders and management team.