Warburg Pincus-backed Rubicon Oilfield International Holdings LP, based in Houston, has snapped up Calgary-based World Oil Tools Inc. for an undisclosed amount to expand its downhole completions business. World Oil, established in 2000, makes specialty inflatable products and technology used in completions, and it works in North America’s unconventional basins, overseas and offshore. The deal would add inflatable packers, external casing packers and drill-stem testing technology to Rubicon’s portfolio. Formed in 2015, Rubicon designs, manufactures and sells/rents downhole oilfield products in more than 50 countries. Since its formation it has acquired other downhole products businesses including Tercel Oilfield Products, Top-Co Holdings and Logan International.
Wyoming’s Office of State Lands and Investments is holding an online oil and gas lease auction from July 12-19 using EnergyNet.com. There are to be 240 parcels offered covering 86,000 acres in Converse and Natrona counties. Details are available on the agency website.
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