Reelwell - About the company
Reelwell is a series A company based in Stavanger (Norway), founded in 2004. It operates as a Developer of wired drill pipe technology for land and offshore use. Reelwell has raised $12.2M in funding from Lime Rock Partners. The company has 50 active competitors, including 9 funded and 11 that have exited. Its top competitors include companies like Nabors, Pason and Enhanced Drilling.
Company Details
Developer of wired drill pipe technology for land and offshore use. The company focuses on digital telemetry, power delivery, and reliability in downhole drilling. Their technology aims to improve efficiency and reduce well construction costs. The company’s drill pipe has undergone testing to ensure reliability.
- Website
- www.reelwell.com/
- Email ID
- *****@reelwell.com
- Phone Number
- +47 **********
- Registered Address
- Vingvegen 1, 4050, SOLA
Key Metrics
Founded Year
2004
Location
Stavanger, Norway
Stage
Series A
Total Funding
$12.2M in 4 rounds
Latest Funding Round
Investors
Ranked
5th among 50 active competitors
Annual Revenue
$1M - $10M as on Dec 31, 2024
Employee Count
34 as on Jul 31, 2026
Legal entities associated with Reelwell
Reelwell is associated with 2 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
REELWELL AS CIN: 987264608 , Norway, Active | Sep 08, 2004 | - | 24 (As on Dec 31, 2024) | |
Reelwell AS CIN: 987264608 , United States, Active | Oct 10, 2004 | $1M - $10M (As on Dec 31, 2024) | 14 (As on Dec 31, 2021) | - |
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Reelwell's funding and investors
Reelwell has raised a total funding of $12.2M over 4 rounds. Its first funding round was on Apr 29, 2010. Reelwell has 4 institutional investors.
Here is the list of recent funding rounds of Reelwell:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Mar 21, 2025 | 6108332 | Series A | 5814274 | 7432304 | 7540268 | 6477807 |
Oct 01, 2022 | 9194601 | Grant (prize money) | 2939127 | 2046963 | 9422431 | |
Jun 29, 2022 | 7543357 | Series A | 4082776 | 6972885 | 5640002 |
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Reelwell's founders and board of directors
Founder? Claim ProfileReelwell's Board of Directors
Reelwell's board has 5 active members. Jorgen Peter Rasmussen is part of team and John Laurence Thorogood, Subodh Saxena, Denis Jean Jorgen Viet Jacobsen and Helga Cotgrove are independent board members.Here is the list of Reelwell's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
jvnyjbx | Team | - | Current | 6y 6m |
Independent board member | - | Current | - | |
smsxdts | Independent board member | - | Current | 3y 5m |
okxypfl | Independent board member | - | Current | 1y 3m |
omekdqo | Independent board member | - | Current | 9y 9m |
Reelwell's employee count trend
Reelwell has 34 employees as of Jul 26. Here is Reelwell's employee count trend over the years:
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Reelwell's Competitors and alternates
Top competitors of Reelwell include Nabors, Pason and Enhanced Drilling. Here is the list of Top 10 competitors of Reelwell, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Nabors 1952, Houston (United States), Public | Provider of cloud and app-based onshore and offshore drilling solutions | - | 64/100 | |
2nd | Provider of integrated drilling data solutions | - | - | 56/100 | |
3rd | Enhanced Drilling 1987, Straume (Norway), Acquired | Technology solutions for drilling industry | - | 55/100 | |
4th | Software solutions for drilling in oil & gas industry | $3.72M | 53/100 | ||
5th | Developer of wired drill pipe technology for land and offshore use | $12.2M | 40/100 | ||
6th | MagVAR 2010, Denver (United States), Acquired | Provider of solutions for well directional drilling | - | - | 38/100 |
7th | Ulterra 2005, Fort Worth (United States), Acquired | Manufacturer of polycrystalline diamond compact drill bits | - | 37/100 | |
8th | Verdande Technology 2004, Trondheim (Norway), Series B | Provider of real-time drilling decision support for oil and gas industry | $14.4M | 35/100 | |
9th | Integrity Directional Services 2008, Fort Worth (United States), Series B | Directional and horizontal drilling services and software solutions | $32.3M | 35/100 | |
10th | Oliden Technology 2011, Sugar Land (United States), Series B | Research and development on drilling and logging technologies | $14.5M | - | 35/100 |
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Reelwell's Investments and acquisitions
Reelwell has made no investments or acquisitions yet.
Reports related to Reelwell
Here is the latest report on Reelwell's sector:
News related to Reelwell
•
Odfjell, Reelwell partner to expand DualLink tech for offshore operationsWorld Oil•Mar 21, 2025•Reelwell, Odfjell Technology
•
Odfjell Technology Takes Share in Reelwell for $3.8MOedigital•Mar 21, 2025•Reelwell, Odfjell Technology
•
•
Reelwell secures agreement with Equinor to supply Oseberg drillpipeOffshore Magazine•Mar 07, 2023•Reelwell, Equinor
•
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