Wellbore Intervention Limited, Welltools Limited and the Tool Company BV join the Reservoir Group, to form large new well intervention division
Houston, TX, February 2012 – Reservoir Group (“RG”), a company backed by SCF Partners, has established a global well intervention group to focus on the rapidly expanding coiled tubing intervention business. The new division is a compliment to RG’s drilling and evaluation business and strengthens the company’s service offering with three leading coiled tubing well intervention service specialist companies joining the team. Reservoir Group’s CEO, Pascal Bartette stated, “We are delighted to welcome these new businesses to our club. Each company has demonstrated technical abilities and a service culture that perfectly matches our vision as well as our values.”
Wellbore Intervention Limited (“WBI”), founded in 2009 by three coiled tubing specialists previously of Baker Hughes, provides high quality, responsive well intervention service to the North Sea market. The WBI management team of President Jim Thomson, Sales Director Barry Webster and Director of Operations Scott Fraser, recognized an opportunity to elevate the level of service in well intervention services and formed WBI.
The Tool Company (“TTC”), founded in 2001, provides well intervention tool rental and services throughout the European market. The TTC management team is led by President Joost Mellies and Director of Operations, Henk Lonsain. Mellies and Lonsain have backgrounds in coiled tubing & snubbing with Halliburton OTIS and wireline operations with Schlumberger, respectively.
Welltools Limited (“WTL”), founded in 2004 by leading coiled tubing design engineer, Paul Hilliard, provides high quality coiled tubing intervention tools including standard tools and proprietary tools for coiled tubing operations. Additionally the business has expertise in solutions engineering to solve customers’ coiled tubing and well intervention issues.
Together the businesses form a strong well intervention platform with minimal overlap in their existing operations, while having excellent opportunities to internationalize under their offerings through the RG network.
Jim Thomson stated, “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.”
Joost Mellies stated “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 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.”
Paul Hilliard stated “Welltools has differentiated itself by offering high quality, efficient, reliable and innovative well intervention tools that provide first class performance and value for money coupled with a flexible, responsive and supportive service. We have also fostered strong relationships with our customer base through utilising our manufacturing expertise and know how to address customers’ well issues through bespoke design solutions. Reservoir provides a strong international footprint providing a vehicle to offer our products to customers internationally while retaining the culture of innovation and flexibility, qualities that have underpinned our performance to date. We are also excited about the support Reservoir will providing in continuing to solve complex engineering challenges and bringing new and innovative products to market.”
Reservoir Group’s CEO, Pascal Bartette stated, “We are confident that the 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.”
About Reservoir Group (www.reservoir-group.com)
Reservoir Group is a global services company with a technical edge, focused on the provision of specialist services to the down-hole drilling, completion and production sectors. The company is headquartered in Aberdeen, Scotland with facilities throughout Europe, America, Africa, Australia and Australasia.
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