Reservoir Group Tacks on Fourth Acquisition
The Reservoir Group has closed its fourth acquisition deal in less than a year. The group, which specializes in integrated downhole drilling products and services to the oil and gas industry, has acquired London-based Storecore, which specializes in the storage and handling of core samples.
This acquisition will add another dimension to existing Reservoir Group companies Corpro and Kirk Petrophysics. Corpro specializes in the extraction of cores, while Kirk Petrophysics has developed specific technologies which protect the condition of the cores whilst being stored, handled and transported.
"Storecore has significant growth potential particularly when combined with the complementary services of Corpro and Kirk Petrophysics," said Pascal Bartette, chief executive officer of Reservoir Group added. "We can now provide a full coring service from extraction to protecting, handling and transporting, which allows our clients to maximize the value still existing in their old cores."
Reservoir Group, which is backed by Houston and Aberdeen based Private Equity firm, SCF Partners, now has six companies operating in the areas of drilling, coring services as well as in completion and production tools and services. The Group now comprises Corpro, Kirk Petrophysics, Storecore, Dowdco and Omega Data Solutions.