Oilfield service firm Reservoir Group, of Aberdeen, yesterday unveiled its fifth acquisition of the year.
It has snapped up US company GeoSearch Logging – one of the largest geological and hydrocarbon well-logging services companies in the US – for an undisclosed sum in a move which sees Reservoir Group’s total workforce swell by 232 to more than 800.
Oklahoma-based GeoSearch has more than 75 active operating units in America, providing geological consulting services, vertical and horizontal well logs, instrumentation, digital cuttings photography and CO2 monitoring.
It will be integrated into Reservoir Group’s existing surface-logging business, Empirica.
Backed by Houston-based oil and gas specialist private-equity firm SCF Partners, Reservoir Group was launched through a £20million management buyout of Corpro in 2007.
The aim was to build a global portfolio of businesses designed to deliver specialist services around hydrocarbon reservoirs.
Yesterday’s expansion announcement came just a few months after the tool-manufacturing division of Canadian company Iroc Energy Services was snapped up in a near-£3million deal.
Reservoir Group chief executive Pascal Bartette, said: “GeoSearch brings tremendous strength to our surface logging services.
“Our ambition is to be the provider of choice wherever our clients operate. We will achieve this by combining our years of experience with specialist services and innovative technologies, delivered by the very best people.”
With the addition of GeoSearch, Empirica will have more than 150 units and in excess of 450 people operating globally.
Other Reservoir Group businesses include Corpro, Enigma Data Solutions, InfoAsset, Kirk Petrophysics, Omega Data, Quest Coring, RG Coring and X Drilling Tools.
Across the group, annual revenue for this year is expected to top £75million.