READ (including subsidiaries READ Cased Hole and ANSA) are pleased to announce that we are embarking on an exciting new chapter in our corporate evolution within global well integrity services and solutions.

Since the establishment of a joint ownership model with HydraWell in 2022, READ and ANSA revenues have doubled, and results have improved significantly. HydraWell Holding AS has today announced that effective immediately, READ and ANSA have been acquired by a consortium of new and existing Norwegian investors. The value of the deal has not been disclosed.

READ has a long-established history of delivering expert well integrity services and solutions for clients around the world and remain committed to its respective operational hubs in Aberdeen, Texas, Alaska and Qatar with no material changes to staff or operations anticipated. 

Managing Director of READ Cased Hole, Bruce Melvin said: “Through the joint ownership model with HydraWell we were able to pool our strength and resources to achieve the financial stability needed to deliver on our short-term growth strategy.  Having successfully achieved that, this latest move will allow our new owners to elevate the business, including potential acquisitions and investment in new technology.”