SOURCE: Reservoir Group

Reservoir Group

December 12, 2011 10:36 ET

Reservoir Group Adds Two Companies to the Club, Announcing New Well Intervention Service Offering

HOUSTON, TX--(Marketwire - Dec 12, 2011) - Reservoir Group has strengthened its portfolio of completion and production services with the announcement that two well intervention specialists have joined the 'club.'

The Tool Company, located in Assen, the Netherlands and the Aberdeen-based firm, Wellbore Intervention bring their expertise in coiled tubing well intervention to the portfolio of activities currently on offer from Reservoir Group.

Both companies provide a variety of well intervention services to the oil and gas industry across the UK and continental Europe. Reservoir Group's backing, accompanied by synergies with other group members, will present each company with the opportunity to swiftly expand their geographic footprint and product range.

Pascal Bartette, chief executive officer of Reservoir Group, said, "We are delighted to welcome these new businesses to our club. Both The Tool Company and Wellbore Intervention have ideal profiles to become members of our group.

"Each company has demonstrated technical abilities and a service culture that perfectly matches our vision as well as our values. We are confident that both companies' existing management will use the backing that Reservoir Group offers to accelerate their business expansion, while maintaining focus and quality of service.

"Adding well intervention services to our current capability will help in our aim to build a global group of specialist reservoir businesses."

Jim Thomson, chief executive officer of Wellbore Intervention, said, "Wellbore Intervention was founded by experienced coiled tubing professionals with a vision to provide the highest quality service delivery in the industry. We are proud of our reputation and performance given that we are a relatively young business, but there are challenges for early stage companies that can hinder the swift realization of ambition.

"Joining Reservoir Group will allow us to accelerate the pace of growth for the benefit of all our stakeholders, while retaining the focus on quality of service. I am delighted to announce this development in the evolution of Wellbore Intervention."

Chief executive officer of The Tool Company, Joost Mellies, said, "Over our 10 years as an independent business, we have built a solid client base and gained industry recognition as specialists in our field.

"The most important aspect for us in joining the Reservoir 'club' is that we can retain our specialist focus while also preserving the flexibility and speed of response to customers' needs.

"Reservoir Group will assist us in expanding our range of services to the benefit of current and future clients. Increasing The Tool Company's capabilities has been a long-standing ambition and we are glad that Reservoir Group will assist us in achieving that."

Notes to Editors:
Reservoir Group is an international oilfield services organization and recognized specialist in the fields of downhole drilling, completion and production and physical and digital data management. Its team of innovative thinkers challenge convention to find solutions to the increasingly complex technical demands of extracting the world's remaining hydrocarbons.

Backed by Houston-based oil and gas specialist private equity firm, SCF Partners, Reservoir Group's aim is to build a global portfolio of businesses designed to deliver specialist services around hydrocarbon reservoirs.

Image of Pascal Bartette available upon request

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