Energy services provider Expro (NYSE: XPRO) announced it has entered into a definitive agreement to acquire Enhanced Drilling, a technology leader in managed pressure drilling (MPD), creating a growth platform that expands Expro’s drilling and completion capabilities throughout the well lifecycle.

The proposed acquisition advances Expro’s strategy to grow through differentiated, technology‑enabled solutions by adding advanced managed pressure drilling capabilities that enables improved efficiency and simplified well architecture within challenging formations where conventional drilling approaches are less effective. Enhanced Drilling’s capabilities also enable earlier involvement in well construction design and planning, allowing Expro to help customers solve critical technical challenges that improve well delivery, reduce operational risk, and increase execution certainty.

The acquisition opens a new, complementary space that enables Expro to work more closely with its clients to optimize their drilling and well construction designs and programs, strengthening the competitiveness of Expro’s broader portfolio in the drilling wells market. The operating and commercial profile of the business is expected to accelerate Expro’s growth trajectory and enhance overall margin mix as the technology scales across global offshore markets.

Total consideration to be paid at closing is approximately two billion Norwegian kroner in cash (approximately $215 million based on current exchange rates) plus customary closing and working capital adjustments.

Headquartered in Norway, Enhanced Drilling has a long track record of delivering proprietary MPD solutions across offshore environments, including the Gulf of America, North Sea, West Africa, Caspian and Asia Pacific. The acquisition strengthens Expro’s relevance in Norway, a technically demanding and strategically important offshore market, adding strong customer relationships and proven MPD capability in an area that sets benchmarks for global offshore well delivery.

The company’s technologies are designed to help operators manage narrow drilling windows, improve wellbore control and reduce non‑productive time, and can simplify well designs by reducing casing requirements, improving overall well construction efficiency. Leveraging Expro’s global operating footprint and customer relationships, the acquisition is expected to accelerate the broader international adoption of Enhanced Drilling’s technologies in key offshore basins.

Michael Jardon, Expro Chief Executive Officer, said: “We are delighted to announce our proposed acquisition of Enhanced Drilling and look forward to welcoming the team to Expro. Enhanced Drilling is a strong strategic fit that expands our portfolio and strengthens our relevance in Norway, a market recognized for technical leadership in offshore operations. Their MPD technologies complement Expro’s existing capabilities and align closely with our focus on helping customers improve efficiency, manage risk, and deliver wells with greater certainty. We believe Expro’s scale and operating footprint can accelerate access to these technologies across a wider range of offshore markets.”

Kjetil Lunde, Chief Executive Officer at Enhanced Drilling added: “This transaction marks an exciting new chapter for Enhanced Drilling and our employees. Becoming part of Expro provides an opportunity to scale our technologies through a global organization with deep operational expertise and long-standing customer relationships. We look forward to working together to expand the reach of our solutions.”

This transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026. Until the transaction is completed, both companies will continue to operate independently with no expected disruption to customers, partners, or suppliers.

About Expro

Working for clients across the entire well life cycle, Expro (NYSE: XPRO) is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.

About Enhanced Drilling

We provide specialist drilling technology and services to the offshore oil & gas industry. From risk-reduction technologies to environmentally beneficial systems, Enhanced Drilling creates cost-effective, benefit-enhancing solutions for some of the offshore industry's biggest challenges.