The alliance, which represents the second North America investment that RG has made in as many months, will complement the Group’s international success as a business focused on niche activities for the hydrocarbon reservoir including the downhole drilling, completion and production sectors. RG has more than doubled in size since its inception in 2007 despite adverse market conditions.
The Mudlogging Company (TMC), which has been in business for almost 25 years, has built a strong industry reputation as a leading provider of surface logging operations in the US Gulf Coast and surrounding regions, both onshore and offshore, through its proprietary software and exclusive technology.
Surface logging is a formation evaluation service conducted through the continuous wellsite analysis of fluids and rock cuttings. It allows the identification of hydrocarbon zones and other geological features while a well is being drilled.
TMC joins Reservoir Group’s RG Geo business unit which will focus specifically on formation evaluation.
Wade McCutcheon, RG Geo VP, said: "Surface logging enhances RG's ability to attain its goal of providing all-encompassing, market-leading hydrocarbon reservoir services for the oil and gas industry. Already within the RG Geo businesses, we are providing technology-led solutions to address formation evaluation challenges through the Group’s breadth and expertise in coring services. Having TMC as a member of the Group enables us also to provide focused expertise within surface logging thus allowing us to broaden our market reach and help customers meet their goals."
TMC owners George Drewry, Ron Lato and Doug Kneis will continue to manage the company and assist in RG Geo's future development. Doug said: "Reservoir Group offers TMC the opportunity to extend its presence in the market place by building upon the foundation that we have established over the past 25 years. Thanks to the synergies that exist within RG’s portfolio of companies and the global footprint of the Group, we expect to achieve significant growth through organic and acquisitive developments in the near future."
RG’s alliance with TMC comes just weeks after the Group announced that it was partnering with Canadian company, Quest Coring. Quest will distribute its innovative and exclusive large bore wireline coring technology through RG Geo’s extensive global network.
RG is a Scotland-based oilfield services group whose businesses undertake niche activities focused on the hydrocarbon reservoir. The Group’s four business areas include RG Geo (formation evaluation), RG Drill (downhole drilling tools), RG Flow (downhole completion and production tools) and RG Data (physical and digital data management).
The Group’s unique approach to developing its specialised services has resulted in rapid global growth over the past three years, with a number of highly-regarded businesses having become part of the Group’s successful expansion. Other businesses include Corpro, Dowdco, Extreme Machining, Omega Data Services, Kirk Petrophysics, , , InfoAsset, and Enigma Data Solutions.
Reservoir Group is backed by SCF Partners, a Houston-based oil & gas specialist private equity firm.