The stratigraphic consultancy PetroStrat has announced the acquisition of the specialist geology business unit of UK-based RPS Energy Limited.
The stratigraphic consultancy PetroStrat has announced the acquisition of the specialist geology business unit of UK-based RPS Energy Limited.
The deal will transfer 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 a team of more than 100 staff and 62 geological experts, which PetroStrat claims will be the largest knowledge base of its kind in the industry.
Petrostrat said that the deal strengthens its offering in biostratigraphy, chemostratigraphy (via its JV Future Geoscience Limited with Chemostrat Limited) and sedimentology/reservoir geology.
The company said it will also strengthen its markets, particularly in northwest Europe and will also enhance PetroStrat’s existing presence in Brazil, Canada, the US and West Africa.
Finally, the deal will give Petrostrat more reservoir geology solutions as well as access to RPS’s collection of non-proprietary, multi-client well data.
Paul Cornick, managing director of PetroStrat, said: ‘The acquisition of RPS’s specialist geology business is the perfect fit for PetroStrat in terms of complementary service offerings, skill sets and global clients. We can now offer a more complete and fully integrated geoscience package to our clients covering all crucial elements of stratigraphy and reservoir geology.
‘The opportunity we now have to merge two huge datasets and to extract more information from these, using new analytical methods, is hugely exciting.’
John Gregory, PetroStrat director, said: ‘The combined subsurface knowledge from the RPS acquisition also provides the perfect platform for our clients as they look to transition to the low carbon economy of the future. In areas such as wind engineering and carbon capture utilization and storage, our subsurface knowledge will be invaluable.’
PetroStrat is a provider of stratigraphic services at the wellsite and via office-based studies that help companies better understand the subsurface. RPS has worked for nearly 30 years supporting exploration and development initiatives, offering asset and reservoir management, drilling support and wellsite geology, field development and planning and seismic operations
