QuantX Acquires Plus Design
QuantX Wellbore Instrumentation
|Friday, June 11, 2004
QuantX Wellbore Instrumentation has acquired UK-based Plus Design Ltd, a key in-well electronic monitoring research & development technology company that manufactures downhole products for the oil and gas service sector.
Established in 1988, Plus Design technology has been widely deployed in the downhole monitoring sector, having developed and manufactured in-well sensor and electronic devices for QuantX and a number of the industries permanent gauge and Electric Submersible Pump (ESP) monitoring service companies. Plus Design market a range of completion deployed permanent pressure, temperature, flow, fluid density and artificial lift monitoring systems. Plus Design also recently developed an advanced Comms on Power (CoP) ESP and reservoir monitoring system.
James Walker, President of QuantX, said: "The acquisition of Plus Design will enable QuantX to deliver a number of our strategic development objectives. It allows QuantX to commercialise novel technology while absorbing part of our supply chain thereby enhancing shareholder value in this competitive industry. The core competences of Plus Design will also enhance our engineering support capabilities."
"This acquisition provides an immediate market for Plus Design products and a direct route to market for a number of the new technologies we have been testing. The combined strength of Plus Design¹s technology and manufacturing capability with QuantX's sales network will ensure the business has a robust future." said Eric Atherton, Managing Director of Plus Design. Eric Atherton has been instrumental in the success of Plus Design and will remain with the new business.