Senergy Snags New Well Engineering Consultancy

LEA (Leading Edge Advantage) Limited is the latest company to join the stable of Aberdeen-based Senergy Limited, and is the company's third acquisition this year. LEA is an industry-leading Well Engineering consultancy specializing in Advanced Drilling Techniques (ADT) and brings a unique skillset to complement Senergy's existing expertise in wellbore and wells performance.

With offices in Scotland and Australia, and a presence in Kuala Lumpur, LEA is an ideal fit within Senergy's existing infrastructure. Formed in 1998, the company has grown a diverse client base of large, small and independent operators, working closely in partnership with them in designing and delivering drilling solutions to release further value from mature hydrocarbon fields.

In the ADT arena, LEA has over its history achieved a number of world and industry firsts in the execution of a number of complex and technically challenging projects, including the execution of the world's first Subsea Through Tubing Rotary Drilling well on behalf of Norsk Hydro on the Norwegian Continental Shelf, the introduction of Managed Pressure Drilling to the UKCS and semi-submersible Underbalanced Drilling operations in the North Sea.

As a result of the acquisition, LEA will become a wholly-owned subsidiary of Senergy's Oil & Gas business, and will continue to be run as a specialist division within the Senergy's wells group. Commenting on the acquisition, Dave Reed, Managing Director Senergy Oil & Gas said, "LEA offers a perfect fit with Senergy's integrated service offering. LEA's wealth of experience in ADT combined with our existing specialisms, means we are extremely well placed to provide solutions that bring enhanced value to every client's bottom line."

Ian Retalic, Global ADT Product Line Manager said, "Senergy is a dynamic company and one which we are excited to be joining. There is no doubt that both parties have much to offer in terms of innovation, world-beating expertise, enviable clients and successful projects. Together we have a winning formula for future expansion into new projects and new geographical areas."

"LEA joining the Senergy business brings the group's turnover up to £55 million and allows us to deliver increased value to our partners and shareholders," added Neil Campbell, Senergy Chief Financial Officer.

Dennis Donald, a founder and former chairman of LEA, and Duncan MacNiven, formerly LEA Corporate Director, are not joining Senergy. Instead they are moving on with their new operating company Warrego Energy. Both Senergy and LEA wish them well in their new venture and are looking forward to working with Warrego Energy.