About Reelwell
Reelwell is a company based in Stavanger (Norway) founded in 2004. Reelwell has raised $12.2 million across 4 funding rounds from investors including European Union, Odfjell Technology and Lime Rock Partners. The company has 14 employees as of December 31, 2021. Reelwell offers products and services including DualLink and DualPipe. Reelwell operates in a competitive market with competitors including Nabors, Ulterra, Enhanced Drilling, Pason and Sekal, among others.
- Headquarter Stavanger, Norway
- Employees 14 as on 31 Dec, 2021
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Sectors
Energy & Utilities
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Email
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Phone
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Website
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Social
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- Legal Name Reelwell As
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Annual Revenue
$4.57 M (USD)98as on Dec 31, 2022
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Net Profit
-$2.83 M (USD)-106as on Dec 31, 2022
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EBITDA
-$2.89 M (USD)-82as on Dec 31, 2022
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Total Equity Funding
$12.2 M (USD)
in 4 rounds
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Latest Funding Round
$3.8 M (USD), Series A
Mar 21, 2025
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Investors
European Union
& 3 more
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Employee Count
14
as on Dec 31, 2021
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Products & Services of Reelwell
Reelwell offers a comprehensive portfolio of products and services, including DualLink and DualPipe.
Provides digital telemetry for reliable downhole drilling efficiency gains.
Enables advanced drilling with redundancy and power for land and offshore use.
People of Reelwell
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Leadership Team
2 people
Product Management Team
1 people
Sales and Marketing
1 people
Sr. Team
1 people
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Funding Insights of Reelwell
Reelwell has successfully raised a total of $12.2M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3.8 million completed in March 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Reelwell
Reelwell has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include European Union, Odfjell Technology and Lime Rock Partners.
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Solix is recognized as an investment company focusing on B2B.
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Investor details for Reelwell
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Investments & Acquisitions by Reelwell
Investment portfolio details for Reelwell
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Financial Statements - Reelwell
Detailed financials for Reelwell
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Reelwell Comparisons
Peer comparison for Reelwell
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Competitors of Reelwell
Reelwell operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Nabors, Ulterra, Enhanced Drilling, Pason and Sekal, among others.
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Cloud and app-based onshore and offshore drilling solutions are provided.
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Manufacturer of polycrystalline diamond compact drill bits
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Technology solutions for drilling industry
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Integrated drilling data solutions are provided for real-time optimization.
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Software solutions for drilling in oil & gas industry
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Detailed competitors of Reelwell
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Latest news on Reelwell
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Frequently Asked Questions about Reelwell
Reelwell was founded in 2004 and raised its 1st funding round 6 years after it was founded.
Reelwell is headquartered in Stavanger, Norway. It is registered at Stavanger, Rogaland, Norway.
Reelwell is a funded company, having raised a total of $12.2M across 4 funding rounds to date.
As of Dec 31, 2021, the latest employee count at Reelwell is 14.
Annual revenue of Reelwell is $4.57M as on Dec 31, 2022.
Reelwell is a Norwegian company focused on providing technology solutions for the drilling industry. The company has developed the Reelwell Drilling Method (RDM) which uses a Dual Drill String with a separate inner pipe for the return fluid from the well. The drilling fluid flows to the bit via the drill string annulus and the return flow to the surface is through an inner string. The technology finds application in Extended Reach Drilling and Managed Gradient Drilling.
Reelwell offers DualLink and DualPipe.
Reelwell has 4 investors. Key investors include European Union, Odfjell Technology, Lime Rock Partners, and Solix.