Stock Report: Tesco Corp. (TESO) Report Updated: May 13, 2013 | Print This Page

Tesco Corporation engages in the design, manufacture, and service delivery of technology based solutions for the upstream energy industry worldwide. The company’s Top Drive segment manufactures, sells, and supports top drives used in drilling operations to rotate the drill string while suspended from the derrick above the rig floor. This segment’s product line includes various portable and permanently installed top drive products with lifting capacities of 150 through 750 tons, which are hydraulically and electrically powered. It also provides top drive rental services on a day-rate basis for land and offshore drilling rigs and engages in the recertification of working units, such as top drives, power units, and other top drive product and component repairs. This segment serves drilling contractors, rig builders, equipment brokers, and oil and natural gas operating companies. Its Tubular Services segment offers proprietary tubular services using its Casing Drive System, a tool that facilitates running and reaming casing into a well bore; and installation service of deep water smart well completion equipment using the company’s Multiple Control Line Running System technology. This segment also provides equipment and personnel for the installation of tubing and casing, including power tongs, pick-up/lay-down units, torque monitoring services, connection testing services, and power swivels for new well construction, and in work-over and re-entry operations. The company’s CASING DRILLING segment provides CASING DRILLING technology, which allows an oil or gas well to be drilled using well casing pipe, eliminating the use of drill pipe and drill collars. Tesco Corporation was founded in 1986 and is headquartered in Houston, Texas.