Midland-based Intrepid Directional Drilling Specialities acquired the directional drilling business, including personnel and equipment, of Houston-based Gyrodata to double Intrepid’s capabilities in North America and expand its presence in Latin America. Robert Trainer, president and CEO of Gyrodata, said April 30 when his company announced the sale, “We are helping to build a truly unique directional drilling provider both in terms of scale and capabilities… The high quality of personnel at Gyrodata and Intrepid will combine to make a clear leader.”
Clint Leazar, president of Intrepid, added, “This acquisition was the first step in a broader and longer-term strategy. Our segment of the oilfield services industry is in need of consolidation. It’s going to be important to have scale and critical mass.” Trainer said the sale allows Gyrodata to exit the directional drilling business and “refocus on our core gyro surveying and advancements in our gyro technology.”