SOURCE: Reservoir Group

Reservoir Group

December 01, 2011 09:53 ET

Reservoir Group Announces Its Sixth Acquisition This Year

HOUSTON, TX--(Marketwire - Dec 1, 2011) - International oilfield services company, Reservoir Group, has announced the acquisition of Mudlogging Services Inc (MSI), the US-based developer and supplier of the MLogger series of gas detection systems.

Founded in 2001, MSI is headquartered in Grand Junction, Colorado. From this base, the company leases its specialized systems and software to a number of major operators and independent oil and gas companies across the US and worldwide, including Mexico, Africa and Eastern Europe.

The sixth acquisition by Reservoir Group this year, MSI is experiencing increasing demand for its product and service range, with the company actively seeking to expand its existing personnel base of 15 to address market opportunity. MSI will also continue to invest in growing its rental equipment fleet while evolving the technology.

MSI's MLogger system was specifically designed for gas site detection, with each model including advanced network capabilities, allowing mudloggers and geologists to remotely manage multiple wells from a private and secure website. This enables operators to commit fewer personnel to each job, thereby improving efficiency and offering cost savings.

Wade McCutcheon, VP with responsibility for Reservoir Group's formation evaluation activity in the US, said, "MSI strongly complements our existing service offering and the addition of the MLogger technology to the Reservoir Group portfolio is an important step in building on the advanced surface logging solutions we are able to offer to our customers.

"Accessing logging information real-time, remotely from the wellsite brings a new dimension to well logging services, offering customers the opportunity to speed up analysis and decision making. MSI is an important partner in the growth of our club and this acquisition helps to consolidate our position as a leading worldwide oil and gas service provider."

Owner of Mudlogging Systems Inc, Andy Kelley, said, "We were attracted by Reservoir Group's expertise in formation evaluation and the synergies that MSI has with other Group members. By joining Reservoir Group we will be able to further realize our ambition of becoming the dominant equipment and log-plotting provider for US land rigs. This relationship also gives us the potential to roll the MSI product range out to a worldwide market.

"This is a wonderful opportunity for all MSI employees. Both companies strongly value people and technologies as the means by which to bring greater value to our customers and we are looking forward to the future as part of Reservoir Group."

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 Wade McCutcheon available upon request.

Contact Information

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    Heather McKee
    Fifth Ring Integrated Corporate Communications
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