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Drilling services firm takes another step towards expanding role on global stage

Drilling services firm takes another step towards expanding role on global stage
THE Reservoir Group has moved a step closer to achieving its goal of becoming a global leader in downhole drilling products and services to the oil and gas industry.

THE Reservoir Group has moved a step closer to achieving its goal of becoming a global leader in downhole drilling products and services to the oil and gas industry.

A spate of recent acquisitions by the Aberdeenshire firm has continued, with its announcement yesterday of another multimillion-pound buy.

Whitecairns-based Reservoir revealed it had snapped up London firm Storecore for an undisclosed amount.

Storecore specialises in the storage and handling of rock samples, or cores, which help oil and gas operators pinpoint the location of hydrocarbon reserves and work out how best to exploit them.

Reservoir said the acquisition added another dimension to existing subsidiaries Corpro and Kirk Petrophysics.

Corpro specialises in the extraction of rock samples, while Kirk has developed technology to protect them while they are being stored, handled and transported.

Reservoir chief executive Pascal Bartette said: “Storecore has significant growth potential, particularly when combined with the complementary services of Corpro and Kirk Petrophysics.

“We can now provide a full coring service from extraction to protecting, handling and transporting, which allows our clients to maximise the value in their old cores.

“Storecore also provides the group with a strategic London base, from which we can further expand this specialised, comprehensive service.”

Reservoir, which is backed by private equity firm SCF Partners, now has five companies operating in the areas of drilling and coring services, as well as in completion and production tools and services.

The group now comprises Corpro, Kirk Petrophysics, Storecore, Dowdco and Omega Data Solutions.

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