One-Page Deal Sheet
Pelican Energy Partners Acquires Oilfield Tech Firm Noralis Inc.
Pelican Energy Partners Noralis Inc.
Announced Date
July 31,2020
Close Date
July 31,2020
Transaction Type
Corporate
Location
Region
United States
Country
United States
Transaction Details: Require Private Equity Subscription
Pelican Energy Partners LP announced the acquisition of Noralis, Inc.
Transaction terms were not disclosed. Noralis is based in the UK, but has a US office located in Austin, TX.
This deal comes as part of the Gordon Technologies LLC platform of companies providing measurement while drilling (MWD) products and services to the directional drilling sector of the oil and gas industry. Pelican partnered with Gordon in October 2017 and invested substantial capital in new technology development as well as the significant growth of its US rental fleet.
Noralis will continue to operate…
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