Buckthorn and the Arab Petroleum Investments Corporation (APICORP) acquired Ashtead Technology Limited (Ashtead) in April 2016. Since its launch in 1985, Ashtead has grown to become a leading independent provider of subsea technology and services to the energy industry with a strong customer base built on trust and quality. With offices in the UK, US, Middle East and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers across both the oil and gas industry and the offshore wind sector, where it provides power development and maintenance services. A growing part of Ashtead’s business is focussed on the effective decommissioning of end-of-life oil and gas fields.

Since Buckthorn acquired Ashtead, the following acquisitions have been completed:
Underwater Cutting Solutions - September 2019

Ashtead Technology further expanded its decommissioning and production-integrity capabilities with the acquisition of Underwater Cutting Solutions (UCS) which significantly broadens Ashtead Technology’s IMR and decommissioning service.

Forum Subsea Rentals - August 2019

Forum Energy Technologies (FET) agreed to sell its interest in Ashtead Technology, which it acquired in January 2018 as part of the transaction which resulted in a merger between FET’s subsea rentals business and Ashtead.

Aqua-Tech Solutions - April 2019

Ashtead Technology acquired Louisiana-based subsea equipment-rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans and provides further exposure to the decommissioning market through its specialist cutting services.

Welaptega - November 2018

Ashtead Technology further bolstered its inspection, maintenance and repair services capability with the acquisition of Canadian-based underwater inspection company, Welaptega. Founded in 1990, Welaptega is a market-leader in mooring system inspection and integrity engineering. Over the past 28 years it has developed a suite of pioneering technologies and services to mitigate failure, prevent damage and environmental hazards, and manage the ongoing integrity of offshore operations through a risk-based approach to asset integrity.

Forum Subsea Rentals - December 2017

Ashtead Technology and Forum Energy Technologies, Inc. agreed to form a joint venture, creating the industry’s leading provider of subsea survey and ROV equipment rental and associated services, with Forum contributing its subsea rentals business.

TES Survey Equipment Services LLC - December 2016

Ashtead Technology announced the acquisition of Abu Dhabi based TES Survey Equipment Services LLC. Established in 2007, TES Survey Equipment Services sells and rents a range of environmental, geophysical, survey and ROV equipment.

November 2019

Churchill Drilling Tools is a high quality and innovative global drilling tools business with operational bases in Aberdeen, Houston and Dubai. Its product range covers drilling, completion and plugging and abandonment (P&A) operations. Its first-class technology, talented team and reputation for quality will be important to the Coretrax group of companies as they broaden their well integrity and abandonment offering and enter new global markets.

May 2019

Mohawk Energy provides expandable tubular well solutions in pursuit of well integrity and improved well productivity and recovery. Mohawk has recently completed a number of significant long lateral refracs and well integrity installations in the US. More recently, the company delivered installations for a major operator in the North Sea to improve well productivity and performance using its novel wireline-based expandable technology. Established in 2004, the company operates in the US, North Sea and Middle East. Buckthorn invested in Mohawk to support its domestic and international growth ambitions, and Mohawk joins forces with Coretrax to support clients in providing innovative well integrity, well productivity and well abandonment products and services.

December 2018

Buckthorn invested in Coretrax, the independent wellbore clean-up and abandonment specialist, to accelerate its international growth plans. The Aberdeen-headquartered company supports well integrity and responsible and efficient end-of-life well operations across its operational centres in the UK, Middle East and South East Asia. It is also working on projects in the US and West Africa where it sees future market potential for its wellbore clean up technology and well-abandonment service offering.

Dynamic Oilfield Services - June 2018

TWMA acquired Dynamic Oilfield Services to enable it to deliver its drilling waste management services to the US land drilling market. Dynamic Oilfield Services deploys its solids control and surface equipment capabilities to enhance environmental performance in some of the most prolific onshore basins in the US and is a leader in the recovery and reuse of drilling fluids and water to minimise emissions and water use.

May 2017

Buckthorn acquired TWMA in May 2017. Established in 2000 and with over 500 staff, TWMA has become recognised internationally for providing specialist drilling waste management and environmental solutions that lower C02 emissions, recycle drilling fluids, reduce environmental footprint, lower drilling costs and maximise operational effectiveness. The company provides services to maximise efficient water use through recovery and re-use during the drilling process. The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the USA.

February 2015

Buckthorn invested alongside Saudi Aramco Energy Ventures in Paradigm Drilling Services (Paradigm) in February 2015. Established in 2009, Paradigm designs, manufactures, sells and rents a number of new generations drilling and intervention technologies, used both in the conventional and unconventional oil and gas sector. The company offers a wide range of products and services and supports a global customer base through its current commercial product range. Paradigm has a number of new tools in the development stage that will grow its offering, with particular emphasis on technology to enhance the industry’s capability in extended reach drilling, which is often key to minimising the environmental footprint of drilling operations.