Tendeka Adds FloQuest to Growing Portfolio
Tendeka has announced its second acquisition in as many months with the addition of FloQuest to its growing portfolio. Five companies now operate in the Tendeka family, which was launched in April 2009.
The deal will see FloQuest integrate with the existing Tendeka family companies and enhance the group's technology offering with its visualization, interpretation and data hosting software. Following on from the recent acquisition of Middle East based FloTech, the group now offers operators a completely new dimension in downhole services.
"We are consolidating companies with industry-leading technology, which offers clients significant improvements in production optimization. The acquisition of such a skilled and specialist business like FloQuest significantly enhances our service offering," said Neale Carter,
Tendeka chief executive officer
Launched in 2006, FloQuest provides industry leading wellbore flow modelling and in-well data management to operators across all the key energy regions. FloQuest's modelling tools ideally complement Tendeka's inflow control and Distributed Temperature Sensing (DTS) products and the acquisition is another step towards the company providing integrated production optimization solutions.
FloQuest has established an impressive project track record using its DTS digital monitoring software with operating companies. It will continue to develop and provide software solutions directly to these customers.
Inline with the company's strategy to grow into a leading international completions solutions provider, Tendeka now combines FloQuest with swellable elastomer specialists, Swellfix; wireless well communication providers, Well Technology; digital monitoring market leaders, Sensornet; and recently acquired sand-face completion experts, FloTech.
Carter added, "We understand and can fully demonstrate the value of our technologies working together. FloQuest's relationship with another of our companies -- Sensornet -- has shown how effective this has been in DTS products and we aim to replicate this across our product lines."
Garth Naldrett, managing director of FloQuest said, "We are very happy to be joining Tendeka at this exciting time. The company is experiencing significant growth and I am confident we can add value with our technology and expertise.
"We already have an excellent relationship with Tendeka, however, being fully integrated into the company means we can fully utilise and add to its innovative research and engineering in new technology."