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...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
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...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...
Acquisition of Australian Firm Brings Reservoir Group’s Set of Companies to Five and Adds New Product Line
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, has snapped up an Australian business which designs and manufactures proprietary downhole drilling tools in a multi-million pound deal.
Extreme Machining is most famous for its WedgeTail™ Roller Reamer and ShingleBack™ Disposable IB Stabilizer products – tough tools which meet the challenges of oilfield drilling around the world and named after indigenous creatures which can survive the harsh conditions of the Australian outback.
Founded in 2002, Extreme Machining has an extensive oilfield track record, and utilises state-of-the-art CNC machinery to design and manufacture the tools from its large plant in South Australia. The company which turns over £4,000,000 and employs 25 staff –provides both the international and Australian markets with proprietary drilling equipment as well as assisting its local clients with machine shops located in Adelaide. A new manufacturing plant is also about to open in the central pacific region.
This transaction, which comes hot on the heels of the group’s acquisition of London-based Storecore and Aberdeen-based Omega Data Services Limited, reinforces Reservoir Group’s geographical coverage and adds a recognised line of products which are in high demand globally.
Reservoir Group, was incorporated last year when SCF Partners backed a management buy-out of Corpro to provide a platform from which to build a global business focused on down-hole drilling products and services with a projected turnover of £250 million in five years.
Pascal Bartette, chief executive officer of Reservoir Group said: “This acquisition takes us another step closer to reaching our ambitious five year target. It represents the introduction to Reservoir Group of a range of recognised products whose international distribution can be significantly enhanced by the global infrastructure of the group.
In line with Reservoir Group’s business model, the managing director of Extreme Machining, Mat Kennedy, will continue to manage the business and drive international growth. Commenting on this transaction he said: “ Reservoir Group offers the platform we need to distribute our products worldwide. More importantly we will now have the capacity to design and market new downhole tools. These, together with our exisiting products will be marketed internationally through a newly created entity called X Drilling Tools
Peter Stuart, Reservoir Group chairman added: “The group is continuing to meet its targets and already seeing real growth from the synergies starting to emerge between the acquired businesses.”
Through organic growth and further acquisitions of niche, independent market-leading companies, Reservoir Group is growing into an internationally-focused market leader that offers integrated, specialist services to the down-hole drilling market.
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.”
