Norton Rose Fulbright advises Drillform in securing funding and exclusive manufacturing agreement
Global | Press release - Business | June 2022
Global law firm Norton Rose Fulbright represented Drillform in its closing of new funding as well as a long-term exclusive manufacturing agreement with Helmerich & Payne International Drilling (H&P).
The exclusive agreement provides a framework for Drillform to manufacture and supply automated floor wrenches to H&P's worldwide drilling fleet and for the companies to collaborate in the development and marketing of other related technologies.
Led by corporate partner John Bakht, the firm's legal team advising Drillform also included Matthew Longstaff, Hailey Boutin, Geren Brown and Kara Barrett von Schnackenberg. The transaction involved extensive cross-border collaboration among parties and counsel in Texas, Oklahoma and Alberta.
Patrick McDougal, Executive Chairman of Drillform, commented, "We are delighted with the outstanding advice and execution we received from Norton Rose Fulbright."
Drillform was founded in 2010 by a team of industry professionals to design, manufacture and service automated drilling equipment. With decades of equipment design and manufacturing experience, Drillform's founders had previously built a market-leading, established brand of automated drilling equipment.