Forum Energy Technologies

What Forum Energy Technologies does

Forum Energy Technologies, Inc. (FET) is a Houston-headquartered oil and gas equipment manufacturer founded in 1975 that designs, engineers, and produces a comprehensive portfolio spanning drilling equipment, downhole tools, subsea systems, valves, production equipment, stimulation and intervention products, and coiled tubing. The company manufactures ASME Code vessels, modular skidded production packages (averaging 3,000 vessels annually), API 6D-compliant valve families, subsea remotely operated vehicles and launch and recovery systems, and downstream processing units such as desalters, operating across approximately 40 facilities and offices in the United States, Canada, the United Kingdom, Germany, Saudi Arabia, the United Arab Emirates, Kuwait, Singapore, China, and Mexico.

The company's technology base centers on mechanical and process engineering for upstream, midstream, and downstream oil and gas applications, supported by proprietary sub-brands (Davis-Lynch, Variperm, Dynacon, PBV, DSI, Accuseal, Pro-Tech, Multilift, Duracoil, SMARTaper, Sub-Atlantic, among others) and certifications including ASME R/S/U stamps and API 6D compliance. FET also maintains subsea software offerings (VisualSoft, ICE Unity) and global repair, refurbishment, and field service capabilities, providing aftermarket revenue alongside new equipment sales.

FET operates a direct enterprise field sales model serving upstream, midstream, and downstream operators, with pricing custom-engineered per customer specification rather than standardized publicly. Revenue is generated primarily through one-time equipment sales of custom engineered-to-order products, complemented by professional services (repair, refurbishment, spare parts, commissioning, and maintenance). The customer base includes all top 10 US oil producers and 14 of the top 15 US gas producers, and FET is the leading Gas Processing Unit supplier in the Marcellus/Utica region.

Name

Forum Energy Technologies

Legal name

Forum Energy Technologies, Inc.

Website

https://mcopackaging.com

Company type

Public

Founded year

1975

Operating status

Operating

Short description

Forum Energy Technologies is a Houston-based oil and gas equipment manufacturer, founded in 1975, that produces drilling, downhole, subsea, valve, production, stimulation, and coiled tubing equipment for upstream, midstream, and downstream operators globally through direct enterprise sales.

Ownership category

akta.pro rank

Product category

Oil and Gas Equipment Manufacturing

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

akta.pro secondary industries

Completion Tools & Subsurface Equipment (Packers, Liners, Valves, Sand Control) (EUALABAD), Drilling & Workover Rigs (Land & Offshore) (EUALABAA), Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Oil and gas equipment
• Drilling equipment
• Subsea systems
• Production equipment
• Valve solutions

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices39 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Oil and Gas Production Equipment Sales: FET manufactures and sells oil and gas production equipment including ASME Code vessels, sand separators, gas production units, line heaters, heater treaters, and modular skidded production facilities. Products are sold to upstream oil and gas operators with long sales cycles and custom engineering requirements.
2. Drilling Equipment and Downhole Tools: Sale of drilling equipment including pipe handling, drill fluid handling, bearings, as well as downhole tools such as Davis-Lynch casing equipment, Multilift solutions, and Variperm sand control and flow control products.
3. Subsea Systems and ROV Products: Manufacture and sale of subsea equipment including remotely operated vehicles, trenchers, tether management systems, submarine rescue systems, launch and recovery systems, and ROV tooling.
4. Valve Solutions: Sale of industrial valves under PBV, Accuseal, DSI, and Pro-Tech brands including gate valves, ball valves, and check valves for oil and gas pipelines and processing.
5. Global Tubing - Coiled Tubing Products: Manufacturing and distribution of coiled tubing and coiled line pipe for well intervention and stimulation operations.
6. Repair, Field Services and Spare Parts: Global repair and field services including repair and refurbishment, spare parts, start-up and commissioning, training installation, and maintenance programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Forum Energy Technologies manufactures and sells engineered oil and gas equipment across the drilling, downhole, subsea, valves, production, stimulation, and coiled tubing product lines. The company also provides aftermarket repair, refurbishment, spare parts, commissioning, training, and field services to upstream, midstream, and downstream oil and gas operators globally.

Product overview

Forum Energy Technologies (FET) is an oil and gas equipment manufacturer founded in 1975, operating as a platform of product lines across the drilling, downhole, subsea, valve, production equipment, stimulation/intervention, and coiled tubing segments. The portfolio includes both core product lines (Drilling Equipment, Downhole Tools, Subsea Systems, Valve Solutions, Production Equipment, Stimulation & Intervention, and Coiled Tubing/Global Tubing) and branded sub-products under those umbrellas. Key branded offerings include P-Quip (drill fluid handling and mud buckets), Davis-Lynch (casing equipment), Dynacon LARS (launch and recovery systems), Variperm (sand control and flow control), Forum Processing Technologies / Edge Desalters (downstream processing), VisualSoft and ICE Unity (subsea software), and Duracoil and SMARTaper (coiled tubing). Production equipment is manufactured onto modular skids at facilities that average 3,000 vessels and related equipment annually, serving all top 10 US oil producers and 14 of the top 15 US gas producers.

Differentiator

Problem solved

Functional benefit

Brands

• P-Quip: Mud buckets and fluid handling systems
• BAKERLOK
• Davis-Lynch
• Secura
• Multilift Solutions
• Variperm
• Dynacon
• Accuseal
• DSI
• PBV
• Pro-Tech Valve
• Forum Processing Technologies (FPT)
• GHT
• Global Tubing
• Hawker
• Quality Wireline
• Sub-Atlantic
• VisualSoft
• M-Co
• Merrimac
• MIDCO Fabricators
• Moffat Engineering
• OBI
• Perry
• Pipe Wranglers
• Titan Tanks & Vessels
• Vanoil
• CraneSafe
• Edge Desalters

Products and services

• Drilling Equipment Comprehensive suite of equipment for drilling operations covering pipe handling (rig floor equipment, hoisting, catwalks, iron roughnecks, cranes), drill fluid handling (P-Quip systems, centrifugal pumps, mud gate valves, manifolds, BAKERLOK), bearings, and produced fluid handling (choke/control valves, BTC gate valves, diaphragm-actuated gate valves), for oil and gas drilling operators.
• Downhole Tools Downhole equipment including Davis-Lynch casing equipment (stage cementing, floating and guiding, completion solutions), Multilift Solutions (ESP, rod lift, PCP, gas lift, intelligent completions, SAGD), and Variperm products (downhole sand control, flow control, completions/workover tools, well abandonment, water well screens, cased hole fishing) for well construction and intervention.
• Subsea Systems Subsea equipment covering Sub-Atlantic remotely operated vehicles (ROVs), trenchers, tether management systems, submarine rescue systems (SRV, ELSS pods/nets), Dynacon launch and recovery systems (ROV winch systems, oceanographic winch systems, traction winches, A-frames, heave compensation systems), ROV tooling and components, subsea engineering, hyperbaric pressure testing, and VisualSoft/ICE Unity software and control solutions.
• Valve Solutions Multi-brand valve portfolio spanning PBV (trunnion-mounted ball valves, floating ball valves, API 6D gate valves, API 6D swing check valves), DSI (gate, globe and check valves), Accuseal (severe service valves), and Pro-Tech Valve for oil and gas transportation pipelines, processing, and wellhead applications.
• Production Equipment Oil and gas production equipment across the upstream-to-downstream spectrum: mechanical upstream equipment (ASME Code vessels, sand separators, Gas Production Units, line heaters, heater treaters), gas processing and treating midstream equipment (dehydration, BTEX eliminator, pig launchers/receivers, filter separators, metering skids, vapor recovery units), and Forum Processing Technologies downstream equipment (Edge Desalters, ForuMix, Forum Process Precipitator).
• Stimulation & Intervention Stimulation equipment (GHT radiators and cooling systems, power ends, crane and manifold systems, iron solutions, FASTConnect) and intervention tools (wireline pressure control, coiled tubing pressure control, hydraulic latch assemblies, quality wireline and cable) for well stimulation and intervention operations.
• Coiled Tubing (Global Tubing) Coiled tubing products including Duracoil and SMARTaper branded coiled tubing, engineered solutions, and coiled line pipe for offshore and onshore well intervention and stimulation applications, with advanced coating technology and dedicated manufacturing and service locations.
• Repair, Field Services and Spare Parts Global repair, refurbishment, spare parts supply, start-up and commissioning, training, installation, and maintenance programs supporting FET equipment in the field across the global oil and gas customer base.

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• National Oilwell Varco (NOV): NOV is a leading global manufacturer of oilfield equipment, drilling rig components, and downhole tools with a comparable portfolio of capital equipment sold to upstream and midstream operators worldwide.
• Weatherford International: Weatherford provides drilling, evaluation, completions, and production equipment and services, overlapping directly with FET's drilling, downhole, and artificial lift lines.
• Dril-Quip: Dril-Quip manufactures subsea wellheads, drilling and production equipment, and surface trees for offshore and onshore operators — directly comparable to FET's wellhead, subsea, and production equipment lines.
• Oil States International: Oil States provides oilfield services, manufactured products including subsea, land-based drilling, and completion equipment, closely mirroring FET's downhole, completion, and production equipment exposure.

Broad incumbents

• Baker Hughes: Baker Hughes is a large, diversified oilfield services and equipment provider spanning drilling, completions, production, and subsea — competing with FET across multiple segments but with a much broader portfolio and service offering.
• Schlumberger (SLB): SLB is the largest global oilfield services company with extensive equipment and digital offerings that overlap in drilling, completions, subsea, and production — a broad incumbent comparable to FET's equipment portfolio.
• TechnipFMC: TechnipFMC designs and manufactures subsea systems, surface equipment, and integrated drilling and production solutions for offshore and onshore projects, overlapping FET's subsea, valves, and production equipment businesses.

Emerging players

• ChampionX: ChampionX focuses on production chemistry, artificial lift, and drilling technologies, intersecting FET's Multilift and downhole product lines and serving the same upstream operator customers.
• NCS Multistage: NCS Multistage provides multistage completion systems and downhole tools for unconventional wells, overlapping with FET's Variperm and Davis-Lynch downhole and sand control offerings.
• Solaris Oilfield Infrastructure: Solaris supplies mobile frac sand silos, last-mile logistics, and oilfield equipment infrastructure serving U.S. operators — adjacent to FET's stimulation and drilling fluid handling lines.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Forum Energy Technologies