Gordon Technologies Acquires Lodestar International and MaxWell Downhole Technology

Pelican Energy Partners Majority Recapitalizes Lodestar International; Combines with MaxWell Downhole Technology

May 28, 2018

Oil & Gas

Pelican Energy Partners has completed a majority recapitalization of Lodestar International and is combining Lodestar with Aberdeen-based MaxWell Downhole Technology, providing growth capital to support greater rental-tool availability, improved service and faster product development. Lodestar will assume operational functions for the combined business as the group scales DWD (dynamics-while-drilling) tool rental, services and technology development across North America and internationally.

Gordon Technologies Acquires Vertex Downhole Trading LLC (Vertex UAE)

October 31, 2024

Oil & Gas

Gordon Technologies LLC, an Enersol company, has acquired Vertex Downhole Trading LLC (Vertex UAE), the Eastern Hemisphere business of Vertex Downhole Technologies Inc. The deal expands Gordon's Measurement While Drilling (MWD) footprint across the Middle East and Eastern Hemisphere and transfers IP rights for Winc, Winc+ and Mudlink technologies.

Gordon Technologies Acquires Paisano Labs

August 3, 2023

Energy

Gordon Technologies LLC, a U.S. provider of measurement-while-drilling (MWD) systems, has acquired Paisano Labs, LLC, a Houston-based designer and manufacturer of LWD gamma detectors and propagation resistivity tools. The acquisition is intended to vertically integrate Gordon's supply chain and expand its proprietary MWD/LWD sensing and electronics capabilities to improve product reliability and availability.

Pelican Energy Partners / Gordon Technologies Acquires Noralis

July 31, 2020

Oil & Gas

Pelican Energy Partners announced the acquisition of Noralis, Inc. as an add-on to the Gordon Technologies platform to broaden its measurement-while-drilling (MWD) product offering and accelerate new product development. Noralis will operate as a wholly owned subsidiary within the Gordon platform, enabling a combined mechanical and electrical MWD offering and supporting international expansion.

ADNOC Drilling / Alpha Dhabi JV (Enersol) Acquires 25% Stake in Gordon Technologies

January 9, 2024

Energy

ADNOC Drilling and Alpha Dhabi have incorporated a joint venture (Enersol) at Abu Dhabi Global Market and completed the JV's inaugural strategic investment by transferring Alpha Dhabi’s 25% equity stake in US-based Gordon Technologies into the JV (valued at roughly $180 million). The move gives the JV an equity position in a leading measurement-while-drilling (MWD) technology provider and is intended to accelerate capability expansion in tech-enabled energy services and optimise drilling operations for ADNOC Drilling.

Alpha Dhabi Holding Takes 25% Minority Stake in Gordon Technologies

November 15, 2022

Oil & Gas

Alpha Dhabi Holding acquired a 25% minority equity interest in Gordon Technologies in an all-cash transaction that provides partial liquidity to Gordon's legacy shareholders. The investment is intended to support Gordon's continued domestic fleet expansion and enable international growth, particularly into the Middle East.