Three oil and gas technology companies have teamed up to offer an integrated and boundary pushing approach to well lifecycle integrity and production optimisation.
Churchill Drilling Tools and US-based expandable tubular well specialist Mohawk Energy have joined with Coretrax under its new brand.
Kenny Murray continues as CEO of Coretrax, which now employs 250 people globally across the UK, Middle East, US and South East Asia.
John Fraser, formerly global business development director at Coretrax has been appointed chief operating officer. Former Mohawk Energy CEO Scott Benzie is now chief technology officer at Coretrax.
Michael De-Rhune has joined the new leadership team as chief financial officer. He was previously Group CFO at Excellence Logging and has held senior financial roles with Bibby Offshore, CEONA and Subsea 7.
The company has also strengthened its support services with key appointments across the business in HR, finance, global QHSE and integration.
Kenny Murray , CEO of Coretrax said: “Oilfield challenges continue to grow in complexity and our mission is to push boundaries to support the industry with novel and advanced ways to tackle well integrity and production optimisation.
“Given current industry challenges with the low oil price and COVID-19, it’s ever more important that we support the sector with a continuous focus on reducing rig costs. Integrating the impressive people and products from Churchill Drilling Tools and Mohawk Energy with Coretrax allows us to provide life-of-well solutions from drilling to decommissioning, directly targeted at production performance and integrity issues.”
Coretrax now has a portfolio of over 50 technologies offered through three innovation platforms and plans to launch disruptive technologies to market this year. The company intends to reinvest more than 15% of revenues into R&D each year.
“Our customers can expect the same responsiveness and problem-solving approach; but will benefit from a much broader portfolio of unified technologies and solutions. We also intend to increase our manufacturing capabilities, supporting the local economies in which we work,” Murray added.