20/11/2009 - 14:14

Advanced Well and QLD consultants merge

20/11/2009 - 14:14

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Perth-based Advanced Well Technologies and Brisbane-based MBA Petroleum Consultants have merged to create a company that services the energy and gas sectors.

Advanced Well and QLD consultants merge

Perth-based Advanced Well Technologies and Brisbane-based MBA Petroleum Consultants have merged to create a company that services the energy and gas sectors.

The merged outfit will take advantage of the strong demand for consultancy services in the coal seam methane sector on the east coast and conventional oil and gas sector locally.

Chief executive of the merged entity (which is yet to be formally named), Cameron Manifold said he had received very positive feedback from clients and industry partners today in reaction to the merger completion news.

"It's great for both companies as it opens up market space for both organisations," Mr Manifold told WA Business News.

'"We will continue trading under both brand names while we integrate the capabilities of the companies while we consider a rebranding exercise."

Mr Manifold expects the rebranding to take place in early 2010.

"The imminent progression from exploration, appraisal and development of CSM (caol seam methane) assets underpinning deliverability to LNG (liquified natural gas) export facilities, will require innovative engineering and field development solutions," he said.

"Combining MBA's world-class CSM sub-surface expertise with AWT's well design and implementation capabilities delivers a one-stop solution for clients seeking to ensure effective commercialisation of their assets."

MBA executive director and founder, Wal Muir said MBA has built a reputation as a leader in delivery of geological, geophysical and reservoir characterisation capabilities in the energy sector over the past decade with particular skills focused on CSM development and in the rapidly emerging CCS sector as well as extensive experience in the conventional hydrocarbon sector.

"AWT is a great business partner offering an expansion of our involvement from the reservoir to production and potentially beyond," Mr Muir said.

"The cultures of both companies are very similar and we expect the merger of our capabilities to proceed seamlessly as we move to quickly expand our combined solutions and services."

Combining the core strengths in the offshore and CSM sectors, AWT and MBA are seeking to expand their active involvement in unconventional hydrocarbons (tight gas and gas shale), geothermal resources and carbon capture and storage (CCS) projects.

This merger is aligned with the growth strategies of both companies and supported by Propel Investments, the private equity investment partner in AWT, led by Peter Dowding and Albin Kurti.

"We will continue our investment commitment in this sector and support of the merged group as they consolidate their position through further organic growth and appropriate acquisition strategies," Mr Dowding said.

 

 

Full announcement below:

 

PRESS RELEASE
Advanced Well Technologies (AWT) and MBA Petroleum Consultants Complete Merger

Taking advantage of the strong demand for sub-surface and well engineering consultancy services in the coal seam methane (CSM) sector in Australian East Coast and conventional oil and gas sector on the West, AWT and MBA Petroleum Consultants merged on 2 November 2009.

Cameron Manifold CEO of the merged entity describing the integrated services that will develop from the new operation said, "The imminent progression from exploration, appraisal and development of CSM assets underpinning deliverability to LNG export facilities, will require innovative engineering and field development solutions. Combining MBA's world-class CSM sub-surface expertise with AWT's well design and implementation capabilities delivers a one-stop solution for clients seeking to ensure effective commercialisation of their assets."

"In addition to the activity explosion in the CSM sector is the continued focus on development of world-scale gas resources in North-West Australia. AWT has actively supported clients in the design, construction and testing of high rate gas wells for over a decade and the merged group is favorably positioned to benefit from further growth in these activities."

Combining the core strengths in the offshore and CSM sectors, AWT and MBA are seeking to expand their active involvement in unconventional hydrocarbons (tight gas and gas shale), geothermal resources and carbon capture and storage (CCS) projects.

The Executive Director and one of the Founders of MBA, Wal Muir, described the merger in the following terms, "MBA has built a reputation as a leader in delivery of geological, geophysical and reservoir characterisation capabilities in the energy sector over the past decade.

With particular skills focused on CSM development and in the rapidly emerging CCS sector, partnered with our extensive experience in the conventional hydrocarbon sector. AWT is a great business partner offering an expansion of our involvement from the reservoir to production and potentially beyond. The cultures of both companies are very similar and we expect the merger of our capabilities to proceed seamlessly as we move to quickly expand our combined solutions and services".

This merger is aligned with the growth strategies of both companies and supported by Propel Investments, the private equity investment partner in AWT, led by Peter Dowding and Albin Kurti. "We will continue our investment commitment in this sector and support of the merged group as they consolidate their position through further organic growth and appropriate acquisition strategies" said Peter Dowding.

AWT was established in October 1996 and currently has over 70 engineering and support personnel, with Cameron Manifold as CEO. MBA was founded by Wal Muir and Doug Barrenger in 2001 and currently has 25 sub-surface professionals and support staff. Mr. Muir will join the Board.

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