Weatherford Technology Holdings announced that it has successfully pursued an intellectual property lawsuit against Tesco Corporation, a wholly owned subsidiary of Nabors Industries, to a favourable outcome.
A settlement was reached during the trial, prior to reaching a verdict. Terms of the settlement will not be disclosed, per the settlement agreement.
“As the world’s largest provider of Tubular Running Services, Weatherford is a technology company, and as such will always vigorously defend its intellectual property,” said Dean Bell, President of Well Construction for Weatherford. “This favorable settlement confirms Weatherford’s willingness to pursue all legal remedies now and in the future against any and all acts of intellectual property infringement.”
Weatherford alleged a patent infringement against Tesco regarding Patent No. 7,249,637, titled “Method and Device to Clamp Control Lines to Tubulars.”