Houston, May 01, 2000
Weatherford International, Inc. (NYSE: WFT) announced today that it had acquired the sand screen product lines of Oiltools International, including patents and associated trademarks, manufacturing assets, inventory and backlog.
The principal product lines include Stratapac®, a highly engineered, patented screen used in offshore, deviated and horizontal wells; Stratacoil™, a small diameter premium screen used for thru tubing completions; and AccuWrap™, a premium wire wrap screen.
According to Mark Hopmann, President of Weatherford Completion Systems, “The Stratapac, Stratacoil and AccuWrap product lines are recognized throughout the industry for their quality and superior performance. They both complement and enhance our Houston Well Screen™ and our Expandable Sand Screen™ product lines.”
Houston-based Weatherford International, Inc. (http://www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,000 people worldwide.
Contacts:
Don Galletly (713) 693-4148
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000