The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

2td.no

Stage

Acquired | Acquired

Total Raised

$12.13M

Valuation

$0000 

About 2TD Drilling

2TD Drilling has developed a robust rotary steerable drilling tool with high build rate. The tool has no external moving parts or hydraulics, and allows for a larger contact area with the formation, thus enhancing maneuverability, bore-hole quality and reliability.

2TD Drilling Headquarter Location

Opstadveien 11 C

Algard, NO-4330,

Norway

+47 455 01 576

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

2TD Drilling Patents

2TD Drilling has filed 2 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/3/2014

9/20/2016

Drilling technology, Petroleum production, Oil wells, Petroleum geology, Hole making

Grant

Application Date

1/3/2014

Grant Date

9/20/2016

Title

Related Topics

Drilling technology, Petroleum production, Oil wells, Petroleum geology, Hole making

Status

Grant

Latest 2TD Drilling News

Energy Ventures invests in the development of drilling technology at 2TD Drilling - 2TD

Aug 3, 2015

Energy Ventures invests in the development of drilling technology at 2TD Drilling   29.03.2012 Energy Ventures (EV) has signed an agreement to invest up to NOK 57 million in Norwegian 2TD Drilling to support the development of advanced drilling tools for the oil and gas industry. The EV investment will be combined with an additional investment of NOK 6 million from the founders and employees of 2TD. 2TD Drilling AS was established in 2008 by five Norwegian entrepreneurs from Stavanger and Kristiansand with long oil industry experience. They have over the past two decades build up oil technology companies which today employ several hundred people in the oil & gas industry. The first 2TD product will be an electro-mechanical rotary steerable drilling tool (RSS), targeting the large and expanding directional drilling market, both on- and offshore. The new RSS design is patent pending, and is aimed at combining lower operational costs with improved maneuverability down-hole, improved borehole quality and reduced non-productive time associated with tool failure. Energy Ventures has an established track record in supporting the development of drilling technology for the oil and gas industry. Through its fund Energy Venture IV, EV will invest up to NOK 57 million in the development of 2TD’s technologies. “It is 2TD´s ambition to become a leading independent supplier of advanced drilling tools for the oil and gas industry. We believe that we have a highly innovative and unique design for the first product that will allow us to rapidly gain market share. By making this investment Energy Ventures not only provides funds to secure successful commercialization, but also offers a wealth of experience to support both product development and our marketing strategy” says Tom Fedog – Chairman and co-founder of 2TD Drilling. “We are also grateful to Innovasjon Norge and Forskningsrådet who have supported the early development of 2TD’s technology, and we hope that they will continue to be involved as we head towards the commercialization phase.” “Energy Ventures has looked long and hard for an investment in rotary steerable technology that has the capability to transform the directional drilling market. We believe that 2TD’s technology can do just this” said Helge Tveit, Partner at Energy Ventures. “Without directional drilling the US Shale drilling boom would never have happened. And it is not just shale that is driving the rapid growth in demand for directional drilling. Oil and Gas companies everywhere are pursuing a highly successful strategy of drilling fewer but longer horizontal wells to achieve the same reserves additions at lower overall cost. Such wells can only be drilled with directional drilling equipment.” With this transaction Helge Tveit and Anoop Poddar from Energy Ventures will join 2TD´s Board of Directors, and Tom Fedog will assume the position of Chairman of the Board. Other Board members will be Stig Bakke and Børge Kolstad. About 2TD Drilling 2TD Drilling (formerly known as Tuteedee) was established in 2008 by five entrepreneurs; Tom Fedog, Per Olav Haughom, Børge Kolstad, Tore Kvalvik and Erik Zachariasen. Since then the team of entrepreneurs has expanded to include Stig Bakke and Aslak Malmin as the technology has matured. Several patents are pending. The company is based at Ålgård near Stavanger, Norway. Shona Grant was recently appointed Managing Director. More information can be found on www.2TD.com. About Energy Ventures Energy Ventures is a leading global venture capital firm providing capital to high growth oil and gas technology companies. The firm manages and advises four oil and gas venture funds with a combined capital base of USD 750 million. Energy Ventures is headquartered in Stavanger, Norway with offices in Aberdeen, UK and Houston, US. More information on Energy Ventures can be found on www.energyventures.no For further information, please contact: Energy Ventures AS - Helge Tveit, phone: +47 51 84 12 82 - e-mail: helge.tveit@energyventures.no 2TD Drilling AS - Tom Fedog, Chairman, mob: +47 915 66262 - email: tom.fedog@stimline.com 2TD Drilling AS - Shona Grant, Managing Director, mob: +47 455 015 76 - email: shona@2TD.no

  • Where is 2TD Drilling's headquarters?

    2TD Drilling's headquarters is located at Opstadveien 11 C, Algard.

  • What is 2TD Drilling's latest funding round?

    2TD Drilling's latest funding round is Acquired.

  • How much did 2TD Drilling raise?

    2TD Drilling raised a total of $12.13M.

  • Who are the investors of 2TD Drilling?

    Investors of 2TD Drilling include Nabors Industries, Innovation Norway, Chevron Technology Ventures and Energy Ventures.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.