Deep Well Services Sold to United Arab Emirates for $223 Million
The privately-held Deep Well Services (DWS), headquartered in Butler County, PA, is one of our favorite oilfield services companies. DWS was born right here in the Marcellus/Utica in 2008. DWS specializes in “snubbing” work—completing those super-long laterals you read about. Although the company rarely brags publicly about the work it does on behalf of drillers, we happen to know that it has drilled the longest onshore wells in the world Lower 48 states. Great company, great people. However, the news broke yesterday that the company is being sold—to the United Arab Emirates (UAE), a country that is a longstanding member of OPEC+.
PLEASE NOTE: Our original post has been edited to correct a few factual errors.
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