Forum Energy Technologies: Providing Multidimensional Services and Competitive Solutions

The world’s dependence on oil and gas is growing as global economies and infrastructure continue to rely heavily on petroleum-based products. The last few years have witnessed a stiff competition among the growing number of oil and gas companies that are increasingly seizing sole rights to significant oil reserves. The collaboration of various oilfield companies could make it easier to access the oil and gas resources, which, due to continuous exploitation, are depleting. Forum Energy Technologies is one such company that was formed as an amalgamation of many companies, including Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies and Allied Technology back in 2010. Forum is a global oilfield products company that is actively contributing to different segments of the oil and gas industry. The company offers applied products and services that are utilized in drilling, well construction, manufacturing, and transportation. Forum has unified a multitude of well-known, trusted brands, each having diversified product lines. The common goal behind the coming together of these brands is to provide customers with personalized solutions to tackle their operational challenges. C. Christopher Gaut, CEO of FET, stated, “Forum is a strong company with tremendous talent and significant upside potential. We will be working very hard to drive superior execution, improve margins, and generate free cash flow.”

Forum’s products and services are designed for underwater reservoirs, refineries, seafloor, and above-ground transportation line. The company engages in aftermarket services such as parts supply and related areas that complement its product offering. Forum’s products and services are targeted at drilling rig equipment for new rigs, upgrades, and refurbishment projects. They play a key role in projects such as subsea construction and development, production equipment implementation, and other downstream projects.

Forum operates in three service segments—drilling and subsea, completions, and production and infrastructure. To offer reliable drilling services, the company manufactures drilling products, instrumentation, manifolds, pumps, and valves. The company remotely handles rugged vehicles that are used by the subsea industry for trenching, electronic observation, hydraulic work, and submarine rescue.