AFGlobal will pay MHWirth a cash consideration of $10 million on closing. An additional “earn-out element” over the next six years could potentially bring in another $65 million, MHWirth said.
The new unit, which AFGlobal will rename Advanced Drilling Systems, offers services such as riser gas management systems, early kick/loss detection, managed pressure drilling, dual gradient drilling and continuous circulation.
AFGlobal will target both the offshore and land markets “across a broad client spectrum”, the company said.
The
