Latest Reservoir Group News

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Global-leading oil and gas energy services company Reservoir Group has bolstered its growth after acquiring Enigma Data Solutions. The acquisition is part of Reservoir Group’s strategy to invest in valuable new additions to its already-strong cast of companies. The Enigma purchase will reinforce RGIS, the information services division of RG, which already includes three companies.

Enigma Data Solutions will retain its own corporate identity and operations including its management under the acquisition. Enigma provides sophisticated information management software and consultancy services to the oil and gas industry - including a number of blue chip clients - and has developed an exclusive IT solution for archiving and backup of large volumes of geotechnical and supporting data to ensure long-term knowledge retention and compliance.

Reservoir Group CEO Pascal Bartette said: “We are pleased that Enigma Data Solutions has joined forces with Reservoir Group. We have identified an opportunity in the oil and gas market for a dedicated, service-oriented data management and information services offering and Enigma will enhance our capability in this area.

“Enigma has an excellent track record and industry reputation and will become integral to this division of the Group.

“We intend to continue to expand the RGIS division either through organic growth or new acquisitions that will extend our geographic coverage as well as enable us to multiply our technical competencies. This is combined with our strategy to search for new, niche additions to the Group across all sectors of our activity.”

Enigma Data Solutions, which has offices located near London and Houston, employs more than 30 people who support the service or engineer new solutions to clients.

Peter Copley, managing director of Enigma Data Solutions, said: “Reservoir Group has developed a new approach to the Oilfield Information Services industry that is of strong appeal to us. We identified valuable potential synergies with the existing RGIS division and the potential to accelerate the development and distribution of our main products through the broader RG network. That will undoubtedly benefit our existing clients as well as opening up new opportunities to develop the Enigma business.”

Monday, March 26, 2010
Corpro coring technology wins industry ‘Oscar’
International coring specialist Corpro has won an ‘Oil Oscar’ for a pioneering new technology which looks set to become a major industry game changer.

Corpro was awarded the top accolade for The Idea category at the prestigious Scottish Offshore Achievement Awards ceremony last night

Monday, March 8, 2010
Reservoir Group Appoints Chairman
Global leading oilfield services company Reservoir Group today announces the appointment of Christopher Gaut as chairman of its Board of Directors. Reservoir Group, which is based in Aberdeen and Dubai, specialises in downhole drilling tools, completions and production sectors.

Monday, February 8, 2010
Reservoir Group Catapults Into Top 10 of Sunday Times Deloitte Buyout Track
Global leading oilfield services company Reservoir Group has been ranked in the top 10 of the Sunday Times 100 buyout track. The Group, which specialises in the downhole drilling, completion and production sectors, has leapt to number 8 from its ranking of 44th position in last year’s league table.

Monday, January 25, 2010
Reservoir Group announces the appointment of Malcolm Greener
Reservoir Group (RG) is pleased to announce the appointment of Malcolm Greener as Managing Director of its XDT division.

Wednesday, May 06, 2009
Reservoir Group Brings New Coring Capability to GOM
Rapidly-emerging downhole drilling products and services group, Reservoir Group, is bringing its coring capability to the Gulf of Mexico and is using OTC as the opportunity to announce the launch of its coring service activities.

Thursday, April 23, 2009
Reservoir Group Stars In UK Profitability League
The annual Sunday Times PricewaterhouseCoopers Profit Track 100 was published for the 10th year on April 19th 2009. This prestigious league table features the UK’s private companies with the fastest-growing profits measured over the last three years of available audited accounts.

Thursday, April 16, 2009
Reinforced Finance and M&A Team to lead Reservoir Group’s continued Expansion
Reservoir Group is on track to secure its intention of becoming a global market leader in integrated downhole products and services after technology driven sales doubled revenue to $90 million in the last 12 months.

Monday, November 10, 2008
Reservoir Group Creates New Data Management Division with Fifth Acquisition in Six Months
Reservoir Group has acquired a second London-based company in its fifth deal in six months. This latest acquisition will lead to the creation of a new data management division within the group.

Tuesday, September 02, 2008
Acquisition of Australian Firm Brings Reservoir Group’s Set of Companies to Five and Adds New Product Line
Reservoir Group has just completed its fifth acquisition. The group, which aims to become a global market leader in integrated downhole drilling products and services to the oil and gas industry, has snapped up an Australian business which designs and manufactures proprietary downhole drilling tools in a multi-million pound deal.

Monday, May 19, 2008
Reservoir Group Completes Fourth Acquisition
Completion of its fourth deal in less than a year is ensuring that Reservoir Group is on track to achieve its global ambitions.

New Group’s Global Ambitions Enhanced by Top place in UK Rankings

Reservoir Group, a newly formed UK business, head-quartered in Aberdeenshire, is set to become a global market leader in integrated downhole drilling products and services with projected turnover of £250 million in five years.

Wednesday, April 16, 2008
Reservoir Group Powers Ahead with Third Deal in Ten Months
Fast-rising UK business, Reservoir Group, has completed its third deal since forming from a management buy-out of an Aberdeenshire-based company last May.

Monday, April 07, 2008
Acquisition of US Firm Makes Reservoir Group A Global Market Leader
Reservoir Group, a newly formed UK business, has just completed its first acquisition which sets the group on its way to becoming a global market leader in integrated downhole drilling products and services to the oil and gas industry.

Reservoir Group full release news articles

(Thursday March 25). The award recognises the excellence in Corpro’s innovative iCoreTM technology and includes additional funding to further develop the tool.

Philippe Cravatte, technical director of Corpro, said: “This award is significant in that it acknowledges iCore’s uniqueness. This is our latest creation intended to offer a cost-effective coring solution with no equivalent in the industry. It is also great for our engineering team to be recognised and rewarded. Their creativity, talent and hard work have been instrumental in designing and building iCore.

“The team encompasses not only Corpro’s research and development team but also other engineering divisions within our parent company Reservoir Group.

“Indeed, it is through our synergies with the concentrated expertise of Reservoir Group’s specialist divisions that Corpro can continually evolve and enhance existing technologies. This integrated approach will continue to lead to the launch of new technologies such as iCore.”

iCore offers a major industry breakthrough in the oil and gas coring process because, unlike current technology which only depicts surface indications, iCore interprets what is happening inside the barrel – the crux of the coring process.

Philippe said: “Currently, coring engineers have to rely solely on surface indications such as torque, pressure and rate of penetration to evaluate what is happening downhole. But as wells become more complex and deeper, coring is becoming increasingly challenging. This is further exacerbated by continuous rising costs, increasingly challenging environments and the related fear of losing critical reservoir data. In many cases, conservative barrel lengths make the process very expensive and consequently, coring - despite its industry-recognised value - is seldom being utilised.

“With iCore, both tool designs and procedures will be improved and subsequently, run length will be extended to its maximum potential making coring a viable and economic formation evaluation technology.”

Dimo Dimov, a senior electronics engineer at Corpro, has played a key role in helping to develop iCore. He said: “The technology is a 2.5ft compact instrumented sub, which is positioned inside the core barrel at the top of the inner-assembly. It registers and transfers to surface various activity occurring during the coring operation. The sub continuously records a large volume of information, extracted through a large set of sensors. When analysed, this information provides visibility on the good conduct of the coring operation.

“Data acquired from core is the only direct measurement of reservoir properties. All other data acquired through logging or testing are calculated or estimated hence leaving room for costly inaccuracy. This demonstrates the undisputed value of coring / core analysis which, despite constant progresses in other means of formation evaluation, remains systematically utilised. However, because of the expensive rig time required during the coring process, operators are often forced for budgetary reasons, to “bypass” coring or, at least, for some intervals.

“iCore addresses these issues in that it will suppress uncertainties in the coring process either in terms of lost recovery or, equally important, when pulling out the barrel prematurely for a suspected core jamming. Furthermore, the acquisition of downhole information on how the barrel performs and reacts will ultimately permit the design of upgraded coring systems that will help to secure longer runs while still providing reassurance that the entire core will be recovered.”

The development of iCore is already at the advanced stages with the final phase of assembly taking place while the various sensors have been separately tested including in downhole conditions. The SOAA funding will greatly progress the latter stages of development.

Aberdeen-headquartered Corpro was incorporated in 1988 and rapidly emerged to become industry-recognised as the most innovative coring service provider. Key to the company’s success has been its focus on formation evaluation services through the core.