Applied Physics Systems and Koltek, Inc. are pleased to announce they have entered into a definitive purchase agreement in which Applied Physics Systems will acquire all Measurement While Drilling (MWD) assets of Koltek Energy Services (KES), a division of Koltek, Inc., along with the current MWD service facility located in Casper, Wyoming operated by KES.
Koltek, Inc. will discontinue offering MWD services and rentals but will continue operating its Well Services division (https://koltek.com/well-services/) in Northeast Oklahoma.
This expansion of the current Applied Physics MWD fleet increases MWD tools’ availability and enables more convenient and efficient coordination with our customers. In this regard, Applied Physics Systems will continue the operation of the Casper facility, staging tools ready for deployment and offering Tier I MWD service from this location to better serve our customers conducting operations in the Rocky Mountain region.
“We are excited to have this opportunity to expand our fleet with a single transaction and immediately be able to offer a higher level of service to our customers,” noted Maxwell Goodman, President. “We anticipate conducting operations in Casper will enable us to achieve increased growth and establish a greater presence in this important region.”