Bo Gray is a casing and tubing running company operating in East Texas and North Louisiana. In 2001 Bo Gray generated revenues of US$20 million while 2002 revenues are expected to be US$21.6 million reflecting current industry conditions.
With this acquisition, Tesco has executed an important element of its corporate strategy announced in June 2002 to acquire a platform to introduce its proprietary Casing Assist Running System developed from its Casing Drilling technology.
Tesco plans to leverage Bo Gray's considerable industry expertise and dominance in its regional markets to launch this new technology in land markets in preparation for entering the offshore market.
