Built the global no. three turn-key provider of intelligent drilling solutions
Sense EDM (now part of Cameron International) is today the third largest supplier of world-class drilling solutions, innovative tubular handling systems and control systems to the international oil- and gas industry. The products are used to drill the most challenging wells around the globe. Sense Technology was founded by an experienced oil- and gas team and later merged with EDM ASA. The head office is located in Kristiansand, Norway, with subsidiaries in Stavanger and Canada. In May 2007 Sense EDM was sold to Bergen based TTS Marine (OSE:TTS) and was set up as a separate division named TTS Energy. In April 2012 TTS Energy was sold to Houston based Cameron International (NYSE: CAM).
Key developments during our ownership:
- Expanded product offering from pure control systems to delivery of turn-key drilling solutions through internal product development and strategic transactions.
- Merged with EDM ASA adding on-shore products and customer prospects. Acquired in addition a small specialized technology company.
- Grew the company from 10 employees and a revenue of US$ 4,1 million in 2004 to a revenue of US$ 89 million in 2007.
- Entered the on-shore drilling market and established Canadian operations.
- Built a professional delivery operation.
- Successfully positioned Sense EDM as the third larges turn-key provider of intelligent drilling solutions world-wide.
- Sold to TTS Marine in May 2007, renamed TTS Energy.
Sold Sense EDM AS to TTS Marine ASA (OSE: HIT) in May 2007.
Responsible partner: Jens Petter Falck.