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2TD Drilling

2TD Drilling
2008 FOUNDED
M&A STATUS
11-20 EMPLOYEES
M&A LATEST DEAL TYPE
$80.3M LATEST DEAL AMOUNT
Description

Provider of advanced drilling tools created for oil drilling. The company's drilling tools with electro-mechanical rotary steers enables oil drilling companies to drill wells at lower operational costs with improved maneuverability down-hole, improved borehole quality and reduce non-productive time associated with tool failure.

Website
Formerly Known As
Tuteedee
Ownership Status
Acquired/Merged
(Operating Subsidiary)
Financing Status
Formerly VC-Backed
Primary Industry
Oil and Gas Equipment
Other Industries
Energy Exploration
Parent Company
Primary Office
Opstadveien 11 C
4330 Ålgård
Norway

+47 455 00 000
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2TD Drilling Valuation and Funding

Deal Type Date Amount Raised to Date Post-Val Status Stage
5. Merger/Acquisition 01-Oct-2014 $80.3M 000.00 000.00 Completed Generating Revenue
4. Corporate 12-Apr-2013 00.000 000.00 Completed Generating Revenue
3. Grant 12-Apr-2013 00.000 000.00 Completed Generating Revenue
2. Early Stage VC 15-Mar-2012 $11.1M $11.1M Completed Startup
1. Early Stage VC 01-Dec-2011 Completed Startup
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2TD Drilling Former Investors (5)

Investor Name Investor Type Holding Investor Since Participating Rounds Board
Seat
Contact
Info
Chevron Corporation Minority 000 0000 000000 0
Chevron Technology Ventures Corporate Venture Capital Minority 000 0000 000000 0
EV Private Equity PE/Buyout Minority 000 0000 000000 0
Individual Investor Angel (individual) Minority 000 0000 000000 0
Innovasion Norge Government Minority 000 0000 000000 0

2TD Drilling Executive Team (9)

Name Title Board
Seat
Contact
Info
Sigmund Prestegård Chief Financial Officer
Stig Bakke Chief Technology Officer
Shona Grant Ph.D Managing Director
Andrew Gorrara 700 Series Product Manager

5 Former Executives

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2TD Drilling Board Members (6)

Name Representing Role Since Contact
Info
Andras Kruppa Self Chairman of the Board 000 0000
Børge Kolstad Self Board Member 000 0000
Mark Andrews Self Board Member 000 0000

3 Former Board Members

You’re viewing 3 of 6 board members. Get the full list »
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