Weatherford announced that it pursued an intellectual property lawsuit against Tesco Corporation, which is a subsidiary of Nabors Industries. The company noted in a press release that it reached a settlement during the trial before coming to a verdict.
“As the world’s largest provider of Tubular Running Services, Weatherford is a technology company, and as such will always vigorously defend its intellectual property,” said Dean Bell, president of well construction for Weatherford. “This favorable settlement confirms Weatherford’s willingness to pursue all legal remedies now and in the future against any and all acts of intellectual property infringement.”
The company alleged a patent infringement against Tesco for patent 7,249,637, titled "Method and Device to Clamp Control Lines to Tubulars."
The company said that settlement terms will not be disclosed.