Forum Energy Technologies: Providing Multidimensional Services and Competitive Solutions
C. Christopher Gaut, CEOThe 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.
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. There is a wealth of untapped value within Forum and I am excited to get to work
It offers a full range of well construction and completion services to ensure efficient and safe operations at well sites throughout the construction process. Forum seeks to design reliable products and services that create value for their diverse customer base of oil and gas operators, land and offshore drilling contractors, oilfield service companies, subsea construction and service companies, and pipeline and refinery operators. As part of their commitment and values, Forum has developed solutions focused on reliability and performance. Their cutting edge digital technology offerings help companies beat the competition. These technologies aid clients in achieving increased visibility across their operations, and taking effective measures to service the equipment and reduce downtime.
From well to refinery gates, Forum delivers the essential technologies and the expertise to overcome the production challenges. The company is expanding its operations geographically to help clients address the latest predicaments. Having collaboration with numerous legacy brands already, Forum is growing further through acquisitions. It delivers products that are augmented with customized manufacturing and support services for labor, materials, documentation, and transportation. Today, Forum Energy Technologies is going places and growing faster in the oil and gas technology solutions provider arena.