Reservoir Group Announces Acquisition of MSI

(Press Release)
Thursday, December 01, 2011
Wade McCutcheon, VP

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 specialised 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 realise 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.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Statoil Invests $1.5b in US Offshore Project

Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.

CMA CGM to Retrofit 10 More Bulbous Bows

The CMA CGM Group said it will retrofit 10 of its vessels’ bulbous bows to achieve improved energy efficiency for slow steaming. The modifications are in addition

Experimental Floating Wind Farm Nears Installation

Launched in March 2012, the Fukushima experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry is nearing the installation

People in the News

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Kirby Corp. Announces Record 3Q Results

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability.

Mergers & Acquisitions

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Hurtigruten Shares at 6-yr High After Bid

Norway's Hurtigruten, which operates scenic cruise lines along the country's fjords and into the Arctic, has agreed to a takeover offer from a group led by several board members,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2344 sec (4 req/sec)