Parker Wellbore has acquired International Tubular Management (ITM). The transaction will allow Parker Wellbore to enter the Norwegian market to improve and expand its machine shop services to current and future customers in Norway and the UKCS for OCTG (Casing) and Premium Rotary (Drill Pipe) tubular repair.

With the acquisition of Parker, Wellbore will be able to implement a circular economy service line model consistent with its focus on energy transition and energy security, expand the scope for growth of Drilling Rental Tool, Pressure Control, Well Intervention and Operations and Management service lines, respond quickly to customer needs through global assets and support from our EAFC GeoMarket locations in the UK and the Netherlands.

To ensure that new team members have the potential for rapid career growth and development in Parker Wellbore's global operations, ITM personnel are being transferred to Parker Wellbore, where they will be trained to operate the company's integrated management system. After the acquisition, Parker Wellbore will focus on the customer and the high level of quality of services provided.