The major participants operating in the North America Well Intervention market are Baker Hughes (U.S.), Nabors Industries (Bermuda), Schlumberger Co. (U.S.), Halliburton (U.S.), Weatherford International Ltd. (Ireland), Aker Solutions ASA (Norway) and Superior Energy Services (U.S.). Key players of the North America Well Intervention market intend to focus on mergers & acquisitions and corporate agreements to increase their market presence in North America.
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For instance, in 2012, Halliburton acquired U.S-based Old School Services LLC (OSS) to enhance its pressure control offerings. OSS is engaged in providing tools for fishing, milling, cleanout, and tubing-conveyed perforating services for well intervention services provided by the company. This acquisition helps Boots & Coots to increase its offering of well intervention services in the market.
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To sustain organic growth, the leading players of North America Well Intervention market focus holistically on new contracts and agreements. In 2014, Weatherford International Ltd. and Baker Hughes Incorporated signed an agreement for the sale of Weatherford's pipeline and specialty services business to a subsidiary of Baker Hughes Incorporated for a total consideration of $250 million, including $241 million in cash and $9 million in retained working capital. The agreement is undertaken to divest its non-core businesses of Weatherford. The sale will benefit Weatherford to refocus on its core businesses and become leaner more efficient and stronger company.
