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...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
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...
Reinforced Finance and M&A Team to lead Reservoir Group’s continued Expansion
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 the last 12 months.
The Group has taken the decision to open a new corporate office in Aberdeen’s West End and announced a raft of senior appointments and promotions to handle the significant expansion to the business as it works towards a goal of $500million turnover by 2013.
David Clark has been promoted to head of corporate development across the Group. He will be responsible for targeting and executing key acquisitions, with particular focus on international expansion.
He moves to this newly-created position after previously holding the post of group financial controller, a role which will now be filled by Craig Hutcheon. Formerly of KPMG, Hutcheon joined Reservoir Group in October 2008. He will be responsible for the provision of permanent financial control and regular reporting streams both internally and to key stakeholders.
Further bolstering the new finance team is Nick Carne, who has been employed as group tax manager, and financial accountant Lewis Esson. Carne, a specialist in international taxes, has relocated to Aberdeen after working in Acergy’s global HQ in London.
Backed by oil & gas private equity specialists SCF Partners, Reservoir Group has acquired seven businesses since it was established in 2007. The new office at Rubislaw Terrace underlines the Group’s commitment to further growth by providing a base for its future global operations.
Rick Clark, Reservoir Group’s chief financial officer, said: “With the phenomenal growth that the Group has experienced in sales and acquisitions in the last year, it is fundamental to our strategy that we continue to invest in quality people in the coming months and years. We are bolstering our finance team with a trio of appointments that underlines the global reach and credentials that Reservoir Group now represents.
“Our client base and our service offering are diversifying with continued expansion around the globe. But we are still demonstrating to our clients our capability to offer our services and specialist downhole products with the same focus and service quality that built our reputation.”
Reservoir Group aims to reach its five year target through organic growth and further acquisitions of niche, independent market-leading companies to create an internationally-focused market leader. The Group combines astute business deals with a concerted drive towards meeting the still-robust demand for innovative and reliable core sampling and related petrographic services, high quality oilfield data management and niche downhole products and services.
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.”
