McCoy Global Inc. today announces acquisition of DrawWorks LP.
The acquisition represents an important step for McCoy to advance its strategic technology initiative and provide cutting-edge technical solutions to customers. Based in Boling, Texas, DrawWorks designs, tests and develops new tubular running technologies for tubing, casing and drill pipes. DrawWorks has developed and patented a product line to reduce risks and save time by simplifying two key drilling processes: running tubulars and handling fluids. The DrawWorks mud handling and tubular running equipment includes AutoFill™ Casing Fill-Up and Circulating System, the AutoValve™ Mudsaver Valve, the DPC™ Drill Pipe Circulating and Flow-Back System, the SJC™ Single Joint Compensator, etc. The most recent innovative development, the DWCRT™, is a modular mechanically operated casing running tool with the easiest rig-up, set or release, widest range of rates, built-in compensator, and the ability to fill, circulate, rotate, push or pull the string – all at one time. DrawWorks tubular running equipment has impeccable reputation and recognized as the best by the world’s largest service contractors.
“McCoy’s acquisition of DrawWorks advances our Digital Technology Roadmap initiative and enables us to deliver enhanced solutions to our customers. We plan to integrate our data-driven technology platform with DrawWorks’ equipment offerings and market these to customers throughout the world. We know customers are looking to us to help them with their challenges while performing tubular running services, and we continue to develop answers for them,” said Jim Rakievich, President and CEO of McCoy.
Bing Deng, McCoy’s Vice President, Sales & Marketing added “DrawWorks has developed innovative equipment offerings which are complementary to McCoy. The DrawWorks team has engineering expertise that we look forward to further unlocking on new products and technical packages for customers. The newly developed casing running solutions are ready to solve customer challenges. We at McCoy will enable their products to reach new markets and customers under our globally recognized and respected McCoy brand”.
If you work in Russia & CIS and have any questions regarding McCoy & DrawWorks equipment, Alexander Astakhov, Official Regional Representative would be happy to help. McCoy@Oilgastrade.com +7 926 6077 908 / +7 499 124 3553