RPS expands with seismic software services consultancy buy
- Business & Finance
Global services company RPS has expanded with an acquisition of UK software and technology consultancy Reservoir Imaging Ltd (RIL).
RPS said on Wednesday that the £4 million ($4.9M) deal would deliver a combination of experts, data, and technology which could provide highly complex oil and gas seismic data acquisition surveys.
As for RIL, it is a seismic software services consultancy based in Scotland, which uses its proprietary developed Osprey Software Suite to support the planning and subsequent safe and efficient acquisition of offshore marine seismic surveys.
This includes managing seismic interference to avoid timeshare and reducing the likelihood of aborted lines or costly re-acquisition.
John Tompson, chief executive for energy at RPS, stated: “As uncertainty continues around the oil price the industry is exploring new ways to deliver improved returns.
“RPS appreciates the rapidly changing market conditions where data and technology are key business drivers – we therefore see RIL as an intelligent and complementary addition to the business.
“RIL is known for its expertise using technology and data to enable clients to make sound investment decisions on reserves, further exploration, and other factors affecting the commerciality of oil and gas fields. It is a natural fit for our business, and we are delighted to welcome the team to RPS.”
Regarding the acquisition, reservoir imaging managing director of RIL Keith Watt said: “RIL is growing quickly, a significant technology development program has allowed us to build new service offerings, increasing the scope and scale beyond our traditional 4D services.
“The opportunity to access the global reach of RPS provides the company with a fantastic opportunity to expand. We are excited to move onto the next phase in the company’s development and look forward to the integration of our technology and services with RPS.”
According to the company, RIL will join RPS’ Energy Operations team of approximately 350 exploration, design, project management, and advisory specialists.
The integration began on October 1 and is expected to be completed within six to nine months. Throughout the transition period, this newly combined team will be led by RPS managing director for the Europe, Africa, and the Middle East regions Ernest Statton.
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