Tesco Corporation
Tesco Corporation was an oilfield-services company specializing in top-drive systems, casing services, and related drilling equipment.
Last updated August 27, 2026
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Overview
Tesco Corporation was an oilfield-services company focused on drilling and tubular-handling technologies for land rigs and offshore platforms. Its principal business included the rental of top-drive systems on a day-rate basis, together with casing-running services and associated equipment and technologies. The company served contractors and operators in the oil and gas industry rather than selling consumer products under a conventional retail brand. The business traces its origins to a company founded by Robert Tessari in 1986. Tesco Corporation in its later corporate form was created on December 1, 1993, through the amalgamation of Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd., and Tesco Corporation. The amalgamated company became publicly traded at that time. Its development reflected the growing use of mechanized and automated drilling equipment intended to improve rig productivity, tubular handling, and safety. A notable early product achievement came in 1994, when Tesco's portable land top drive received a Special Meritorious Award for Engineering at the Offshore Technology Conference. The company subsequently expanded its commercial reach outside North America, opening a sales office in Beijing in 1995. It also broadened its casing and tubular-services capabilities through acquisitions. In 2002, Tesco acquired Bo Gray Casing Co. and A&M Tubular Maintenance for a reported $10.5 million. In 2011, it purchased Premiere Casing Services - Egypt S.A.E., extending its casing-services presence into Egypt. Tesco relocated its headquarters from Calgary to Houston in 2006 while retaining manufacturing operations in Calgary. Houston provided proximity to a major concentration of oilfield contractors, equipment suppliers, and exploration and production companies. The company continued to develop and acquire drilling-support technologies. In 2012, it sold its CASING DRILLING division to Schlumberger for a reported $45 million, reshaping its portfolio around its remaining drilling and tubular-handling activities. In 2013, Tesco acquired automated catwalk technology from Custom Pipe Handlers Canada, and in 2014 it acquired Tech Field Services. The company also became involved in patent litigation concerning pipe-handling technology. In August 2014, a federal court in Houston dismissed with prejudice Tesco's lawsuit against several competitors concerning alleged infringement of U.S. Patent 7,140,443, titled "Pipe Handling Device, Method and System." The proceedings included judicial criticism of attorney Glenn A. Ballard Jr. regarding representations made to the court. Fernando Assing became Tesco's president and chief executive officer in December 2014. Tesco remained an independent public oilfield-services company until December 2017, when Nabors Industries acquired it. Following that transaction, Tesco ceased to operate as an independent publicly traded corporation. Its technologies and activities became part of Nabors' broader drilling and oilfield-services business.
History
Tesco Corporation developed as a specialist supplier of drilling and tubular-handling equipment and services for the oil and gas sector. The business originated with a company founded by Robert Tessari in 1986. Its later corporate structure was established on December 1, 1993, when Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd., and Tesco Corporation were amalgamated. The resulting entity became a public company. The company's early growth centered on top-drive drilling systems, including portable equipment designed for land rigs. In 1994, its portable land top drive received a Special Meritorious Award for Engineering at the Offshore Technology Conference. Tesco began developing an international commercial presence in 1995 by opening a sales office in Beijing. Tesco expanded through both technology development and acquisitions. In 2002, it acquired Bo Gray Casing Co. and A&M Tubular Maintenance for $10.5 million, adding casing and tubular-maintenance capabilities. In 2006, Tesco moved its headquarters from Calgary to Houston, although manufacturing continued in Calgary. The move placed corporate operations closer to Houston's oilfield-services ecosystem. In 2011, Tesco acquired Premiere Casing Services - Egypt S.A.E. The following year, it sold its CASING DRILLING division to Schlumberger for $45 million. Tesco then continued building its equipment and automation platform, acquiring automated catwalk technology from Custom Pipe Handlers Canada in 2013 and Tech Field Services in 2014. Tesco was involved in patent litigation over pipe-handling technology. In August 2014, a Houston federal court dismissed with prejudice a Tesco action against several competitors involving U.S. Patent 7,140,443, concerning a pipe-handling device, method, and system. The court also criticized lawyer Glenn A. Ballard Jr. over statements made during the case. Fernando Assing was appointed president and chief executive officer in December 2014. Tesco continued operating as an oilfield-equipment and services company until December 2017, when Nabors Industries acquired it. The acquisition ended Tesco's independent corporate and public-market existence and incorporated its business into Nabors' operations.
- 2017
Acquisition by Nabors Industries
[1]Nabors Industries acquired Tesco Corporation, ending its independent status.
- 2014
Tech Field Services acquired
[1]Tesco acquired Tech Field Services.
- 2013
Automated catwalk technology acquired
[1]The company acquired automated catwalk technology from Custom Pipe Handlers Canada.
- 2012
CASING DRILLING division divested
[1]Tesco sold its CASING DRILLING division to Schlumberger.
- 2011
Egyptian casing-services acquisition
[1]Tesco acquired Premiere Casing Services - Egypt S.A.E.
- 2006
Headquarters relocated to Houston
[1]The company moved its headquarters from Calgary to Houston while maintaining Calgary manufacturing.
- 2002
Casing-services acquisitions
[1]Tesco acquired Bo Gray Casing Co. and A&M Tubular Maintenance.
- 1995
Beijing sales office opens
[1]Tesco expanded its international sales presence by opening an office in Beijing.
- 1994
Portable land top drive receives engineering award
[1]Tesco's portable land top drive received a Special Meritorious Award for Engineering at the Offshore Technology Conference.
- 1993
Corporate amalgamation and public-company formation
[1]Tesco Corporation was formed through the amalgamation of four companies and became a public company.
Products and positioning
A specialized oilfield-equipment and services provider positioned around mechanized drilling, top-drive rental, casing execution, and automation for land rigs and offshore platforms.
Drilling equipment
Portable land top drives
Tesco developed portable top-drive systems for land drilling rigs. These systems mechanized the rotation and handling of drill pipe during drilling operations and represented one of the company's best-known equipment lines. The portable land top drive earned a Special Meritorious Award for Engineering at the 1994 Offshore Technology Conference.
Oilfield services
Top-drive rental services
Tesco provided top drives to drilling contractors and operators on a day-rate rental basis for land rigs and oil platforms. The service model allowed customers to use specialized drilling equipment without purchasing and maintaining the systems outright.
Oilfield services
Casing-running services
Casing-running operations supported the installation of casing strings in wells. Tesco built this capability through internal operations and acquisitions, including Bo Gray Casing Co., A&M Tubular Maintenance, and Premiere Casing Services - Egypt S.A.E.
Drilling technology
CASING DRILLING
CASING DRILLING was a Tesco division combining drilling and casing functions. Tesco sold the division to Schlumberger in 2012, making it a significant example of the company's portfolio restructuring before its eventual acquisition by Nabors.
Rig automation equipment · 2013
Automated catwalk technology
Tesco acquired automated catwalk technology from Custom Pipe Handlers Canada in 2013. The technology was intended to automate the movement and handling of tubulars around drilling rigs, complementing Tesco's broader focus on mechanization and rig efficiency.
Controversies
2014
Patent litigation dismissed with prejudice
A Houston federal court dismissed with prejudice Tesco's patent-infringement lawsuit against several competitors concerning U.S. Patent 7,140,443, a patent covering a pipe-handling device, method, and system. The proceedings also included judicial criticism of attorney Glenn A. Ballard Jr. regarding representations made to the court.
Brand decisions
2017
Acquisition by Nabors IndustriesM&ABackground
Tesco had operated as an independent public oilfield-services company since its 1993 amalgamation.
Action taken
Nabors Industries acquired Tesco Corporation in December 2017.
Aftermath
Tesco ceased to exist as an independent public company and became part of Nabors Industries.
2012
Sale of CASING DRILLING divisionM&ABackground
Tesco reviewed its portfolio of drilling and casing technologies and chose to divest its CASING DRILLING division.
Action taken
The division was sold to Schlumberger for $45 million.
Aftermath
The transaction reduced Tesco's direct involvement in the CASING DRILLING business while providing Schlumberger with the division's technology and operations.
Sale price. $45 million (2012)
2006
Move headquarters to HoustonStrategyBackground
Tesco sought to operate from Houston, a major center for the oilfield-services industry, while retaining manufacturing in Calgary.
Action taken
The company moved its headquarters from Calgary to Houston and continued manufacturing in Calgary.
Aftermath
Houston became Tesco's headquarters for the remainder of its independent corporate life.
Sources1 sources
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