IDE exits rig construction business, changes company name

Integrated Drilling Equipment Inc. (IDE) has exited the rig construction business to focus on its origins as a provider of power and control solutions. Effective Sept. 21, the company will once again operate under the name Integrated Electrical Control Systems (IEC Systems).

“The segment of our business that has proven its resiliency, even in this downturn, has been our power and controls business,” explained Jim Terry, CEO, Integrated Drilling Equipment Holdings Corp., noting that operators are still seeking upgrades on power and control systems for maximum efficiencies on drilling rigs.

Aligning its business objectives with the current market fluctuation in the oil and gas industry, IEC Systems’ revised growth strategy builds upon its core competencies of providing automated control systems, variable frequency drives, and hydraulic power/control solutions that meet oil and gas operators’ increased demand for technology that produces efficiencies while protecting people and the environment.

The company has relocated its corporate sales office in The Woodlands, Texas, to IEC Systems’ facility in Houston.

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