Thursday, 22 July 2010
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...Read more...Friday, 26 March 2010
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...Read more...Monday, 08 March 2010
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...Read more...Wednesday, 24 February 2010
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...Read more...Monday, 25 January 2010
Reservoir Group (RG) is pleased to announce the appointment of Malcolm Greener as Managing Director of its XDT division. XDT is the recently launched downhole drilling tools & services division of Reservoir...Read more...Wednesday, 06 May 2009
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...Read more...Thursday, 23 April 2009
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...Read more...Thursday, 16 April 2009
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...Read more...Monday, 10 November 2008
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...Read more...Wednesday, 03 September 2008
Completion of its fourth deal in less than a year is ensuring that Reservoir Group is on track to achieve its global ambitions. The group, which aims to become a global leader...Read more...Wednesday, 03 September 2008
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,...Read more...Thursday, 26 June 2008
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...Read more...Thursday, 26 June 2008
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...Read more...
Reservoir Group Powers Ahead with Third Deal in Ten Months
Thursday, 26 June 2008
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.
The group, which aims to become a global leader in integrated downhole drilling products and services to the oil and gas industry , has acquired Aberdeen-based Omega Data Services Limited.
The company specialises in the design, manufacture and supply of downhole memory tools and gauges for pressure and temperature surveys, which reduce costs for production logging and data gathering.
With 12 employees and a turnover of $6 million, Omega Data Services has a wide client portfolio of oil and gas operating and service companies around the world.
Reservoir Group, which acquired Corpro last year in a deal valued at over £20 million, is backed by Houston and Aberdeen based Private Equity firm, SCF Partners. Through organic growth and further acquisitions of niche, independent market-leading companies, Reservoir Group is seeking to become recognised as an internationally-focused market leader that offers integrated, specialist services to the down-hole drilling, completion and production sectors.
Corpro, and recently acquired Dowdco, form the basis of the group’s activities in drilling downhole tools and services. Both these companies specialise in drill coring services and the manufacture of coring tools and drill bits.
The addition of Omega Data Services marks the Group’s first step into completion and production tools and services.
Pascal Bartette, chief executive officer of Reservoir Group said: “Together these two distinct areas will allow us to provide a much broader spectrum of services than the oil and gas industry currently has available to it. Equally, they spread the risk for the group in that while drilling is very cyclical, production and stimulation activity is far less affected by oil price.
Omega has broken new ground in the UK and secured a significant share of a highly competitive market. Omegas success is based on its reputation for getting new, high quality, cost effective products to market quickly. The primary design criteria for all Omega products is that they allow operators to get the best data from their wells and can be safely and successfully operated by field personnel with no specialised training or knowledge.
As part of the Reservoir Group, we anticipate Omega will be able to quickly replicate its performance in other oil and gas provinces through our international network. Omega Data Services management team and staff will all remain under the Reservoir Group banner to lead the international expansion of the company.
Neil Matheson, managing director of Omega added: “I am pleased that this deal gives Omega the platform for more rapid international growth through the Reservoir Group’s established network and provides the existing staff with new career opportunities within a dynamic emerging global market leader. Omega’s experience with high temperature downhole electronics will also bring new openings for the other companies within the Reservoir Group.”
Reservoir Group is committed to further acquisitions and is targeting independent market leaders within specialist sectors that provide good product differentiation.
We are building a critical mass that will improve our global reach and generate synergies within the group allowing our companies to realise their full growth potential more quickly and effectively, while capitalising on the complementary aspects of each. added Mr Bartette.
The RBS Structured Finance team in Aberdeen provided senior acquisition facilities in support of the deal. John Heiton, director of structured finance at RBS in Aberdeen, said: “This latest transaction extends what has already proved to be an excellent working relationship between RBS and Reservoir Group. Omega is another ideal fit for the Group, adding new and complementary capabilities to its offering, with the opportunity for future revenue synergies and international growth. We’ve worked with SCF Partners on more than 10 transactions now and have been consistently impressed by their ability to successfully implement buy-and-build strategies.”
Advisers to Reservoir Group included Maclay Murray Spens and PwC while Simmons & Co and Deloitte assisted Omega Data Services in this transaction.
Thursday, 22 July 2010
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.”
