{"id":97543,"date":"2024-11-05T00:00:00","date_gmt":"2024-11-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adnoc-alpha-dhabi-jv-enersol-snaps-up-95-of-us-based-energy-tech-firm\/"},"modified":"2024-11-05T00:00:00","modified_gmt":"2024-11-05T00:00:00","slug":"adnoc-alpha-dhabi-jv-enersol-snaps-up-95-of-us-based-energy-tech-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/05\/adnoc-alpha-dhabi-jv-enersol-snaps-up-95-of-us-based-energy-tech-firm\/","title":{"rendered":"Adnoc, Alpha Dhabi JV Enersol snaps up 95% of US-based energy tech firm"},"content":{"rendered":"

Enersol is set to acquire a 95% stake in DWS:<\/strong> Adnoc Drilling and Alpha Dhabi Holding's joint venture Enersol agreed to acquire a 95% stake in US-based energy tech firm Deep Well Services<\/a> (DWS) for approximately USD 223 mn including performance based payments, according to a press release (pdf)<\/a>.<\/p>\n

This marks Enersol's fourth acquisition this year:<\/strong> The firm picked up drilling visualization and analytics firm EV Holdings<\/a> for USD 45 mn in August<\/a>, a majority 51% stake in manufacturing solutions provider NTS Amega for USD 58 mn in July<\/a>, and majority ownership in US-based Gordon Technologies<\/a>. <\/p>\n

Future plans:<\/strong> Enersol aims to to support Adnoc Drilling's recent USD 1.7 bn contract<\/a>, through DWS, to deliver 144 unconventional wells to Adnoc Group by utilizing various available technologies. <\/p>\n

About DWS: <\/strong>Established in 2008 in the US, DWS offers advanced energy-sector tech, including patented hydraulic completion units supported by its analytics software. The company also runs globally accredited training programs that enhance safety and operational efficiency. <\/p>\n

Adnoc Drilling eyes more GCC acquisitions:<\/strong> Adnoc Drilling is looking to buy companies in Kuwait and Oman as it expands beyond the UAE, with most of its focus now on companies in the region, Bloomberg<\/a> quotes Adnoc Drilling CFO Youssef Salem as saying. <\/p>\n","protected":false},"excerpt":{"rendered":"

This marks Enersol's fourth acquisition this year<\/p>\n","protected":false},"author":1,"featured_media":97544,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[104,103,1524,7,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adnoc-drilling","tag-alpha-dhabi","tag-enersol","tag-enterpriseam-uae","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"db23025a-34c8-4a84-a84c-bc8643d091b7","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/314.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc, Alpha Dhabi JV Enersol snaps up 95% of US-based energy tech firm","related_issue":[97533],"teaser":"This marks Enersol's fourth acquisition this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.92ec649e-f496-4ab0-992f-145185429566.mp3"},"yoast_head":"\nAdnoc, Alpha Dhabi JV Enersol snaps up 95% of US-based energy tech firm - 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