Ace Oil Tools becomes Ace Well Technology to reflect commitment to technology across energy industry
(WO) — Ace Oil Tools, the company known for the Ace Rachet Collar (ARC), has become Ace Well Technology. The move reflects the company’s continued commitment to the use of its technology across the entire spectrum of the energy industry.
With its origins in oil and gas, Ace Well Technology’s expertise goes beyond hydrocarbons and reaches across geothermal and carbon capture and storage (CCS). Ace Well Technology selected the new name and visual identity to better reflect the broader applications of the product portfolio while retaining strong links to the company’s history.
Ace Well Technology is best known for the ARC, where it created a superior method for attaching tools and accessories to the casing or completion string during well construction and completion. The unique locking mechanism of the ARC is the first 90,000lb+ rated stop collar on the market.
The simple and effective solution underpins the broader technologies of the growing Ace Well Technology portfolio, which includes products such as Ace Control Line Clamp (ACLC), the Ace Drilling Centralizer and the Ace Splice Clamp.
Espen Sørbø, CEO of Ace Well Technology, said, “To support the changing energy landscape, innovation and efficiency are required across the value chain. From oil and gas wells to carbon capture, injection and geothermal, a successful well needs a strong foundation. Through the unrivaled holding force of our simple and effective range of technologies, our products can be deployed on a well of any kind, using the same installation methods. For this reason, we felt that our new name better reflected our commitment to the wider energy sector.
All of our clients have one thing in common – a desire to improve well performance. Our approach is to help them achieve this, while also ensuring well integrity. With our processes and tools installed using time and carbon-efficient methods, our choices are also driven by our commitment to supporting net zero targets and UN sustainability goals. While the conditions of each well may vary, the reliability of our technology does not, and our team guarantees the same results whether it is a CCS well or an oil and gas well.’
Looking to 2023, the company will continue to focus on its core and expanding markets. The Ace Well Technology suite of products will continue to provide solutions for both well construction and completions across the energy sector. With successful wells in over 30 countries, the Ace Well Technology team will continue to invest in developing its tools and seeking new applications for the technology. Within completions, there will be an announcement on some automation solutions for the ACLC in the second half of 2023.