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TESO on NASDAQ

Tesco Corporation

Logo: w:Tesco Corporation, Public domain, via Wikimedia Commons5

Oilfield services company founded in 19931

Tesco Corporation was an oilfield services company that provided top drive rental services on a day-rate basis for land and oil platforms as well as casing running. It was headquartered in Spring Branch, Houston. In December 2017, the company was acquired by Nabors Industries.3 Its shares trade on NASDAQ under the symbol TESO.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1993Founded1

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  • TickerTESO on NASDAQ1
  • IndustryOil & Gas Field Machinery & Equipment1
  • HeadquartersHouston1
  • Websitewww.tescocorp.com
  • Legal formpublic company1
  • Business addressWestway Plaza, 11330 Clay Road, Suite 350, Houston, Tx 770416
  • Filer categoryAccelerated filer6
  • LEI5493008TXYN3II3PU3694
  • StatusInactive4
  • LEI statusRetired4
  • Registered address855 2nd Street South West, T2P 4K7 Calgary, Canada4

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Tesco Corporation was an oilfield services company that provided top drive rental services on a day-rate basis for land and oil platforms as well as casing running. It was headquartered in Spring Branch, Houston. In December 2017, the company was acquired by Nabors Industries.3

What it owns

What Tesco Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$337.4M8 Dec 31, 2016$440.4M8 Dec 31, 2015−23.4%
Accumulated depreciation$216.7M8 Dec 31, 2016$262.7M8 Dec 31, 2015−17.5%
Property and equipment, net$120.7M8 Dec 31, 2016$177.7M8 Dec 31, 2015−32.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$91.5M8 Dec 31, 2016$51.5M8 Dec 31, 2015+77.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$08 Dec 31, 2015$34.4M8 Dec 31, 2014−100.0%
Finite-lived intangibles, gross$12.7M8 Dec 31, 2016$13.8M8 Dec 31, 2015−8.2%
Accumulated amortization$11.4M8 Dec 31, 2016$9.8M8 Dec 31, 2015+16.2%
Finite-lived intangibles, net$1.3M8 Dec 31, 2016$4.0M8 Dec 31, 2015−68.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$76.2M8 Dec 31, 2016$95.5M8 Dec 31, 2015−20.1%
Raw materials$66.7M8 Dec 31, 2016$53.6M8 Dec 31, 2015+24.5%
Work in process$3.4M8 Dec 31, 2016$1.9M8 Dec 31, 2015+75.9%
Finished goods$6.1M8 Dec 31, 2016$39.9M8 Dec 31, 2015−84.8%

The story

The company traces its routes to a company founded in 1986 by Robert Tessari.

On December 1, 1993, Tesco Corporation was formed through the amalgamation of Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd. and Tesco Corporation. The company also became a public company.

In 1994, Tesco's portable land top drive won a Special Meritorious Award for Engineering at the Offshore Technology Conference show.

In 1995, the company opened a sales office in Beijing.

In 2002, the company acquired Bo Gray Casing Co. and A&M Tubular Maintenance for $10.5 million.

In 2006, the company moved its headquarters from Calgary to Houston, while continuing to manufacture in Calgary.

In 2011, the company acquired Premiere Casing Services - Egypt S.A.E.

In 2012, Tesco sold its CASING DRILLING™ division to Schlumberger for $45 million.

Read the full text

In 2013, the company acquired automated catwalk technology from Custom Pipe Handlers Canada.

In 2014, the company acquired Tech Field Services.

In August 2014, Judge Keith P. Ellison of Houston Texas dismissed with prejudice a lawsuit in which Tesco had been suing several competitors for infringement of US patent 7140443, "Pipe Handling Device, Method and System". Glenn A. Ballard Jr. of global law firm Bracewell & Giuliani was rebuked for lying to the court.

In December 2014, Fernando Assing was appointed President and CEO of the company.

In December 2017, the company was acquired by Nabors Industries.

From Wikipedia’s article on Tesco Corporation, shared under CC BY-SA 4.0.7

Leadership

Who has led Tesco Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Julio M. Quintana2007–2014
  2. Fernando Rafael Assing2014–2017

President

  1. Julio M. Quintana2007–2014
  2. Fernando Rafael Assing2014–2017

Chief financial officer

  1. Anthony Tripodo2007–2008
  2. Robert L. Kayl2008–2013
  3. Christopher L. Boone2014–2017

Chief operating officer

  1. Fernando Rafael Assing2011–2014
  2. John Terrell Gatlin2016–2017
1995200020052010201520202025
Board members and other officers (42)

Timeline

  1. Dec 23, 2014New chief executive Fernando Rafael Assing becomes CEO9
  2. Jan 5, 2007New chief executive Julio M. Quintana becomes CEO10
  3. 1993Founded Founded1

SEC filer profile

How Tesco Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTESCO CORP2
  • CIK0001022705
  • Employer ID (EIN)98-00532042
  • Filer statusAccelerated filer2
  • Fiscal year endsDecember 312
  • Industry code (SIC)3533 Oil & Gas Field Machinery & Equipment2
  • Business addressWestway Plaza, 11330 Clay Road, Suite 350, Houston, TX 770412
  • Phone713-359-70002
  • Shares outstanding46,756,282 as of Oct 31, 201755
  • Public float$173.7M as of Jun 30, 20168
  • On EDGAR sinceJul 21, 19972
  • Filings1,782 in all: 4 (1,241), 8-K (185), SC 13G/A (56), 3 (50), 4/A (40), 10-Q (33), SC 13G (28), 6-K (18)2
    All 38 form types

    UPLOAD (15), S-8 POS (13), 10-K (11), DEF 14A (11), CORRESP (10), S-8 (9), SC 13D/A (9), SC 13D (8), 40-F (5), 3/A (4), PRE 14A (4), SD (4), 10-Q/A (3), 8-K/A (3), 10-K/A (2), 424B5 (2), 6-K/A (2), DEFR14A (2), EFFECT (2), NT 10-K (2), 15-12B (1), 25-NSE (1), 8-A12B (1), DEFA14A (1), DEFM14A (1), NT 10-Q (1), POS AM (1), PREM14A (1), S-3 (1), S-3/A (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2017
    Quarterly report (10-Q) Nov 7, 2017
    Proxy statement (DEF 14A) Mar 27, 2017
    Latest 8-K (8-K) Dec 15, 2017

Sources

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