- Business
- Coil Tubing Technology, Inc. Coil Tubing Technology, Inc. (CTBG) develops, manufactures, markets and rents proprietary specialty tools and innovative technical solutions for coiled tubing and jointed pipe applications in bottom hole assemblies used for hydrocarbon exploration and production worldwide; core products include jar accelerators, extended reach tools, bi-directional jars, jet hammers, jet motors, spinning wash tools, bumper subs, vibrational agitation devices, indexing tools, Amplidyne, Ampli-Max, H/H jars, jet nozzles, oscillators, rotating tools and extreme pulse technology, supporting thru-tubing fishing, thru-tubing workover and intervention, pipeline cleanouts and coiled tubing lateral drillout operations; the company offers turnkey tool packages with standard and proprietary downhole tools backed by support services or single-item rentals. Founded in 1999 and headquartered in Houston, Texas, Coil Tubing Technology, Inc. operates through subsidiaries including Coil Tubing Technology Holdings, Inc. (Nevada), Total Downhole Solutions, Inc. and Coil Tubing Technology, Inc. (Texas), Coil Tubing Technology Canada Inc. (Alberta) and a 51% interest in Excel Inspection, LLC, with service centers in Houston and Red Deer, Alberta, serving oil and gas clients regionally, nationally and internationally. In November 2024, the company entered a joint venture with Azure Holdings Group Corp. (AZRH), contributing $14 million in coiled tubing technology tools at lower of cost or market value to a wholly owned AZRH subsidiary in exchange for 50/50 profit sharing and granting AZRH exclusive distribution rights for broader technologies, effective November 12, 2024, to enhance sales and distribution leveraging over 40 years of oil and gas relationships.