Tesco Corporation
 | |
| Company type | Defunct |
|---|---|
| Industry | Oilfield Services |
| Founded | December 1, 1993, Calgary, Alberta, Canada |
| Founder | Robert Tessari |
| Defunct | Template:End date and age |
| Fate | Acquired by Nabors Industries |
| Headquarters | Houston, Texas, United States |
Key people | Fernando R. Assing, President & CEO |
| Revenue |  $134 million (2016) |
 -$117 million (2016) | |
| Total assets | $344 million (2016) |
| Total equity | $309 million (2016) |
Number of employees | 1,215 (2016) |
Tesco Corporation operated as a provider of oilfield services, focusing primarily on the rental of top drive systems for both onshore and offshore drilling platforms, as well as offering casing running solutions. Based in Spring Branch, Houston, the company was acquired by Nabors Industries in December 2017.
History
Robert Tessari established the origins of Tesco Corporation in 1986, with the official incorporation occurring on December 1, 1993. This formation resulted from the merger of Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd., and Tesco Corporation itself, transitioning into a publicly traded entity.
In 1994, Tesco earned recognition at the Offshore Technology Conference with a Special Meritorious Award for Engineering, awarded to its portable land top drive system. The next year marked Tesco’s international expansion with the inauguration of a sales office in Beijing.
The company expanded its operations through acquisitions such as Bo Gray Casing Co. and A&M Tubular Maintenance in 2002, purchased for $10.5 million. In 2006, Tesco shifted its corporate headquarters from Calgary to Houston, while retaining its manufacturing facilities in Calgary.
Further growth included the acquisition of Premiere Casing Services - Egypt S.A.E. in 2011 and Tech Field Services in 2014. Additionally, in 2013, Tesco incorporated automated catwalk technology by acquiring it from Custom Pipe Handlers Canada.
In 2012, Tesco sold its CASING DRILLING™ division to Schlumberger for $45 million, redirecting focus toward its core rental and casing service offerings.
The company faced legal disputes including a patent infringement case concerning pipe handling technology that was dismissed in 2014.
Fernando Assing was appointed as President and CEO in December 2014 and served in this capacity until the company's acquisition by Nabors Industries in December 2017.