08:18 AM EDT, 09/17/2024 (MT Newswires) -- Seadrill ( SDRL ) and Oil States International ( OIS ) have signed a non-exclusive collaboration agreement to enhance safety and efficiency of offshore managed pressure drilling operations, Oil States ( OIS ) said Tuesday.

The partnership will integrate Oil States' ( OIS ) MPD Integrated Riser Joint system with Seadrill's ( SDRL ) high-spec floating drilling vessels, aiming to improve safety and efficiency in deepwater drilling, Oil States ( OIS ) said.

Oil States ( OIS ) shares were up 2.8% while Seadrill ( SDRL ) shares were 1% higher in recent premarket activity.

Price: 40.19, Change: +0.41, Percent Change: +1.03