Derrick Equipment Appoints STEP Offshore as Exclusive Distributor

Derrick Equipment, a division of Derrick and STEP Offshore, a wholly‐owned subsidiary of Aker Solutions, announced an exclusive distribution agreement, effective immediately, that gives STEP Offshore exclusive rights to sell Derrick's premium solids control equipment and related products in Europe. The agreement is valid for capital equipment, such as shale shakers, mud cleaners, centrifuges, degassers, flow dividers, and for operational equipment such as shale shaker screens and spare parts. This enables STEP Offshore to offer an even greater range of drilling fluid management solutions.

Derrick's screen technology, also available for competitors' shale shakers, includes the PyramidTM and Pyramid PlusTM design. These three‐dimensional screens offer the benefits of traditional flat, multi‐layered screens while adding a substantial increase in usable screen area. The result is a screen that allows for an increase in fluid handling capacity. PyramidTM screens allow rigs to screen finer earlier in the drilling process, thus significantly reducing total drilling fluid and disposal costs.

"We are delighted to have found an ideal partner in STEP Offshore and we look forward to seeing the results of working with such an eager and technically capable organization," said Mitch Derrick, President of Derrick Equipment Company.

STEP Offshore will utilize Aker Solutions' global logistics hubs to keep inventory of consumables close to where it is needed.

"I am very excited to secure this agreement with the premier solids control player in the world," said Pål Eriksen, President of STEP Offshore AS. "With our presence in the market, and with the logistics support from Aker Solutions, we are well set up to serve our customers."

As part of the agreement, STEP Offshore has purchased the existing assets from Derrick Equipment GmbH in Germany, and will continue operating out of the same facilities, with the same staff, as STEP Offshore.