- Business
- McCoy Global Inc. (TSX: MCB) designs, manufactures, and distributes capital equipment, aftermarket products, and services for tubular running operations in the global energy industry, with a focus on enhancing wellbore integrity, safety, and operational efficiency during well construction for onshore and offshore oil and gas exploration and development. The company offers a comprehensive portfolio including wellbore construction equipment such as DWCRT Casing Running Tool, wireless torque subs, drilling subs, MTT Torque Turn Monitoring Systems, hydraulic power tongs in models from 3-1/2 to 31 inches, bucking units, make/break units, and hydraulic power units; DRAWWORKS products like mudsaver valves and AutoFill; the smarTR Product Suite for automation and machine learning-driven tubular makeup; control and monitoring systems; sensors for harsh environments including torque testers, load sensors, and system displays/controllers like weTORQ Roughneck; gaging, calibration, service, and training; equipment rental; dies and inserts for pipe handling tools; and parts and consumables. Founded in 1914 and headquartered in Edmonton, Alberta, Canada, McCoy Global operates internationally in over 60 countries through direct sales, distributors, and facilities in Canada, the United States, and the United Arab Emirates, serving exploration and production companies, service companies, drilling contractors, and tubular manufacturers primarily in the United States and Latin America. In recent developments, the company successfully commercialized its smarTR technology and secured a significant contract award in 2025; received a $3.7 million purchase commitment post-Q3 2025 for integrated hydraulic power tong systems destined for deep-water offshore operations in the Eastern Hemisphere with Q1 2026 delivery; delivered a deep-water offshore integrated casing running system for Latin America with Q4 2025 commissioning; obtained Toronto Stock Exchange approval in August 2025 for a normal course issuer bid to repurchase up to 2,537,833 common shares through August 2026, following 518,500 shares repurchased under the prior bid at a weighted average price of $2.67; and continues investing in product development, global technical support for smart products, and rental fleet expansion amid market challenges.