Well Technology Group has sold a 34% stake to Ferd Capital, facilitating growth in the competitive oil and gas equipment sector.

Information on the Target

Well Technology Group (WTG) is a distinguished supplier of mechanical equipment designed specifically for oil and gas wells. The company specializes in the design, manufacturing, ownership, and operation of downhole tools, which are utilized for both temporary and permanent isolation within these wells. Notable products from WTG include high expansion plugs and straddles, which play a crucial role in water and gas shut-offs in reservoirs and various barrier applications. These innovative solutions are especially valuable in demanding well environments characterized by high temperatures and pressures.

In recent years, WTG has demonstrated substantial growth, reporting revenues of NOK 320 million and an EBITDA of NOK 153 million in 2009, with that robust trend persisting into 2010. This success highlights the company's strong position within the oil and gas sector, driven by its unique product offerings that cater to complex operational challenges.

Industry Overview in Norway

The oil and gas industry in Norway is considered one of the world's most advanced, benefiting from a combination of cutting-edge technology and a strong regulatory framework. The country's offshore reserves continue