Company producing & selling heave arrestor – Seeking a growth partner / new owner

The heave arrestor has been successfully deployed in over 100 workover/completion operations.

Key information:

• Established 20 years ago.
• Documented savings.
• Accommodates operations up to 4 meters of platform heave motions.
• 6 units.

Mode of operation: The heave arrestor is a telescopic pipe assembly designed to elimi-nate vertical heave motions of a Surface Flow Tree (SFT) on the drill floor of a floating drilling unit or a workover vessel. The unit is strategically positioned between the workover riser and the SFT in association with wireline and coil tubing operations. With the unit installed, personnel can safely operate on the SFT during platform heave motions significantly larger than the industry-recommended 1.5 meters.

The fundamental concept of the heave arrestor is to enhance the safety of wireline and coil tubing operations, whilst accommodating up to 4 meters of platform heave motions. This capability notably extends the operational weather window and reduces days lost to
adverse conditions, thereby delivering considerable savings.

Desired future: The products have never been professionally marketed and all units have been utilized exclusively in Norway. The owners, who are approaching retirement age, are seeking a growth partner / new owner capable of introducing the company to the global market.