(WO) - Expro Group Holdings N.V. has agreed to acquire Norway-based Enhanced Drilling for approximately $215 million, expanding its capabilities in managed pressure drilling (MPD) and well construction services.

The transaction, expected to close in the third quarter of 2026, will add MPD technologies across both riserless and riser-based applications, strengthening Expro’s portfolio of high-technology drilling and completion solutions.

“We are excited to announce the proposed acquisition of Enhanced Drilling and look forward to welcoming its employees into the Expro family,” said CEO Michael Jardon. “Enhanced Drilling will add industry-leading managed pressure drilling technologies… and expand Expro’s service and solution offerings related to customers’ drilling and completion activities.”

Expro said the acquisition will also add approximately $275 million in order backlog and is expected to be immediately accretive to cash flow.

The move comes as the company highlighted a strengthening medium- to long-term outlook for oilfield services, despite near-term uncertainty tied to geopolitical tensions. “There will be increased emphasis on… energy security going forward, all of which should create additional demand for our services across the well lifecycle,” Jardon said.

Expro noted that while some Middle East operations experienced minor disruption during the quarter, overall global activity remains in line with expectations.