PetroStrat Ltd, an industry leading stratigraphic consultancy that provides a comprehensive suite of geological services to the upstream oil and gas industry, has announced the acquisition of the Specialist Geology Business Unit of UK-based RPS Energy Limited.
The acquisition will see the transfer of all RPS assets and 26 staff to PetroStrat, including 17 geological experts, as well as an R&D laboratory and offices in Northwich in the UK. The result will be over 100 staff and 62 geological experts working at PetroStrat, the largest knowledge base of its kind in the industry.
Petrostrat Red Rock Pattern
Other benefits of the acquisition include:
The further consolidation of PetroStrat’s position as the service provider of choice for multidisciplinary geological solutions covering biostratigraphy, chemostratigraphy (via its JV Future Geoscience Limited with Chemostrat Limited) and sedimentology/reservoir geology. The result for clients will be the latest knowledge on the subsurface to support not only enhanced oil & gas recovery but ultimately decommissioning and risk management, wind farm engineering and carbon capture and storage (CCS);
The broadening of the company’s client base to include not only majors but more focused operators and their partners;
A consolidation of PetroStrat’s markets, particularly in North West Europe (leveraging on RPS’s market penetration) and increased capabilities to provide integrated wellsite solutions in North West Europe and globally from both its UK and US bases. The acquisition will also enhance PetroStrat’s existing presence in Brazil, Canada, the USA and West Africa; and
A broader set of reservoir geology solutions to expand and develop PetroStrat’s offerings as well as access to RPS’s unique collection of non-proprietary, multi-client well data from Northwest Europe and around the world.