Aberdeen technology company Raptor Data has agreed a deal with drilling firm Archer to (OSLO: ARCH) target the well decommissioning market.
The global exclusive agreement means Archer Well Services will distribute Raptor’s downhole acoustic monitoring technology with its well integrity and plugging and abandonment services, with UK and Norway being “important and high priority markets”.
Archer, which is headquartered in Sandnes, Norway, and has an office in Blackburn, near Aberdeen, said integration of Raptor’s wireless acoustic telemetry will “significantly” improve monitoring capabilities.
A value for the agreement was not disclosed.
Nicholas Pantin, EVP of Archer Well Services said: “Raptor has developed a state-of-the-art downhole acoustic monitoring tool that, with its wireless data broadcasting capabilities, will expand Archer Well Services solutions in the temporary and permanent plug and barriers V&V (validation and verification) market, including data transmission of downhole pressure and temperature broadcasted via a wireless acoustic telemetry from below the barrier.
“This demonstrates Archer’s major commitment to continue improving and managing the placement of reliable well barriers.”
Paul McClure, CEO of Raptor said: “A combined Archer Well Services – Raptor Data in this space provides unparalleled resources and a technically differentiated global platform to build a scalable high impact business at the cutting edge of technology.”
Raptor, which employs 12 people, recently secured a global well plugging and abandonment (P&A) contract with ConocoPhillips (NYSE:COP).
As part of that deal, Raptor will manufacture a fleet of tools which ConocoPhillips will initially deploy across its operations in Norway.
The agreement with Archer has “no direct implications on the Conoco deal”, a spokeswoman said.
Raptor was founded in Aberdeen in 2011 by Colin Maclean and Gordon Cowie. Conoco was an early backer of the firm, alongside Statoil and the Oil and Gas Technology Centre – now Equinor and Net Zero Technology Centre (NZTC), respectively – as well as the Scottish Investment Bank, the former investment arm of development agency, Scottish Enterprise.
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