4 November 2020
CannSeal is now an Interwell Company
Interwell AS has acquired 100% of the shares in CannSeal AS.
Interwell is a leading provider of wellbore technology with products qualified to the highest standards for well barrier and well integrity needs for the oil & gas industry. Interwell is a global provider of plugs, packers, and straddle solutions for challenging well applications within the area of high temperatures, high pressure, and high expansion. Interwell’s technology is designed to be used as barriers or isolation in the reservoir during the production phase – mainly inside tubing and casing.
Since 2007, CannSeal’s team of scientists, engineers and innovators have developed its epoxy-based sealing solutions and patented downhole delivery tool to accurately plug both vertical and horizontal wells.
Interwell’s knowledge of the technology, industry and their strong organization, will help strengthen how the CannSeal technology can perform, as well as supporting the product and its delivery to global markets.
Thormod Langballe, CEO Interwell says:
“CannSeal’s competency and proprietary technology is consistent with our strategy of expanding Interwell’s product offering in the premium segments. The technology broadens our offerings to seal off outside the casing, and we are now in a better position to offer a complete solution that will serve the wells better.”
Thomas Ringe, CEO CannSeal, says:
“The complementary technology combined creates a solution that is unique to the industry, and Interwell’s presence around the world will help spread these solutions to a level we could not reach single-handedly. With this new owner our organization is stronger than ever, and I am looking forward to tackling the time ahead with great motivation and a fantastic team to show the value of our technology.”