SOURCE: Athens Group

November 11, 2008 08:00 ET

Athens Group Reports Record Sales Quarter

Third-Quarter Customer Demand Highest in Company's History

HOUSTON, TX--(Marketwire - November 11, 2008) - Today, Athens Group, an exploration and production consulting company that specializes in risk mitigation and problem remediation for drilling and rig control systems, announced a 174% growth in quarterly year-over-year sales.

Customers that engaged Athens Group for new projects during the quarter included existing customers: Stena Drilling for the Stena Forth, Carron and DrillMAX rigs, Noble Energy for the Ensco 8501 rig, Anadarko for the Ensco 8500, Nexen for the Ensco 8501, Transocean for Development Driller I and Ensco for the 8500. New customers included: Ocean Rig for the Eirik Raude and Leiv Eiriksson rigs, Total Nigeria for the West Capella and Total FinaElf and Eni Norway/Saipem for Scarabeo 8.

"Using Athens Group to audit our fleet of drilling vessels, we have gained a better insight into how these control systems work and we are now in a much better position to ensure that software faults are found before they lead to costly equipment failure and downtime," said Erik Rønsberg, Engineering Manager, DrillMAX Fleet at Stena Drilling Ltd.

"The cost of non-productive time (NPT) on today's highly automated newbuilds is on the rise," said Mike Haney, CEO at Athens Group. "Software failure is often the cause of equipment malfunction and safety incidents. Our growth is due to the fact that our customers continue to return to us for help because of our unique expertise and ability to cost-effectively reduce their NPT and risk."

About Athens Group

Today's high rate of schedule delays and non-productive time (NPT) is unacceptable! It is our mission to reduce the causes and costs of drilling and rig control systems software failures. The cost ratio of our Lifecycle Drilling Technology Assurance services to NPT savings typically exceeds 1:100. Our extensive experience working with drilling and rig control systems from a majority of the equipment vendors, and deep knowledge of software, networks, hardware, and topology, uniquely qualifies us to help our customers in this critical and specialized area. Proven on offshore drilling and production facilities world-wide, our services have helped customers such as BP, Chevron, Exxon Mobil, Maersk, Noble Drilling, Pride, Shell, and Transocean cost effectively speed time to production and reduce NPT -- through faster risk mitigation and problem remediation. Athens Group works hard to exceed our customer's expectations; that is why 100% of our customers are referenceable. For more information, visit www.athensgroup.com.

Contact Information

  • Contact:
    Vanessa McMillan
    Director of Marketing
    512-345-0600 ext. 135
    Email Contact