Tesco Corp was organized under the laws of Alberta, Canada on December 1, 1993 through the amalgamation of Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd. and Tesco Corporation. The Company is engaged in the design, assembly and service delivery of technology-based solutions for the upstream energy industry with global operations. Its product and service offerings consist mainly of equipment sales and services to drilling contractors and exploration and production companies throughout the world. Its business segments include Top Drive - top drive sales, top drive rentals and after-market sales and services; Tubular Services - automated and conventional tubular services; and Research and Engineering - internal research and development activities related to its automated tubular services and top drive model development, as well as the Casing Drilling technology prior to the sale. Its customers for top drive sales and after-market sales and service primarily consist of drilling contractors, rig builders and equipment brokers. Its customers for rental fleet include drilling contractors, major and independent exploration and production companies. Some of its competitors include National Oilwell Varco, Inc. and Canrig Drilling Technology Ltd., a subsidiary of Nabors Industries Ltd., Weatherford International, Ltd., Franks International, Inc. and Baker Hughes Incorporated, among others. The Company owns various trademarks that are important to its business, namely TESCO, Casing Drive System, CDS, Multiple Control Line Running System, MCLRS, MLT, TESCO DESIGN, Tescosity, TescoCorp. The Company is subject to foreign governmental regulations in some jurisdictions in which the Company operates that favor or require awarding contracts to local contractors or require foreign contractors to employ citizens of, or purchase supplies from, a certain jurisdiction.
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