Enhanced Drilling Services

Enhanced Drilling Services Overview

Company Headquarters: Straume, Norway

Founded: 2013

Company Working: Enhanced Drilling Services (EDS) provides drilling services and technology to the international oil and gas industry. EDS operates through three operational segments, which are enhanced drilling, cannseal and group/others. Cannseal technology is mainly used in mature oilfields to seal off the inflow of water and gas. The company offers a wide range of oilfield capabilities including MPD, dual gradient drilling, cementing, clean-up operations, safety enhancement technology, and mud removal technology. EDS has worked on more than 600 wells in its lifetime with its RMR and CTS technology. The company has offices and workshops in various countries including the UK, the US, Australia and Azerbaijan. Also, the company has workshop in Canada and an office in Malaysia.

Strategy

EDS as a key strategy is inclined towards research and development to stay ahead in the highly competitive market. It has been a leading service provider for offshore enhanced drilling in the past few years with its innovative drilling technologies. The company has been focusing on expansion and has offices and operations in many countries. It regularly conducts webinars to educate clients about its products and advantages the oil producers will have from them.

Company Snapshot

$87.6M

Revenue

2013

Founded

Straume, Norway

Headquarters

SWOT Analysis

Strengths

Wide range of drilling services provided by the company
Strong research and development team

Weaknesses

Declining annual revenues

Opportunities

Upcoming rigs in Norway and neighboring countries
Growing requirement for advanced drilling services in the Asia-Pacific region

Threats

High operating risk
Continuous technological advances in the Oil & gas industry

Key Developments

Date	Approach	Development
September 2016	–	EDS signed a four-year contract with Lundin to provide it EC Drill technology and services for four years
July 2016	–	EDS launched its new office and workshop facility in Baku, Azerbaijan. The new office in the region is estimated to increase the revenue generated for the company
December 2015	–	EDS entered into a long-term contract with BP Baku for EC-Drill technology and services, for operation in the Caspian region. BP estimated that using MPD on this field will increase oil recovery substantially

Product Offering

Enhanced Drilling Services
- EC-Drill MPD system

Financial Performance

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