RPS Group has acquired ECL (Exploration Consultants Limited) for a £27 million cash and paper consideration. ECL is now part of RPS’ Energy Division. The UK-based group now operates from regional offices in the USA, Canada, Europe, SE Asia and Australia. The move is in response to developing market opportunities within the oil and gas consulting sector and will add ‘significant additional capability’ to RPS Energy’s offerings.
Williams
RPS Energy CEO Phil Williams told Oil IT Journal, ‘We have been building the RPS Energy business steadily over the last two years. The ECL acquisition will allow us to accelerate our development— particularly with our international operating bases in Houston, Perth and now Calgary. RPS has a real commitment to developing the leading consultancy business in the energy sector. This began with the acquisition of Hydrosearch two years ago and RPS Energy is now one of the largest energy sector consultancies.’
Management
Management teams of both organizations are to remain with the businesses. In addition to the HydroSearch acquisition, RPS recently acquired UK-based Cambrian and Troy-Ikoda. RPS Group announced record results for the six months ended 30 June 2005 with profit before tax up 23% and earnings per share up 13%. Net revenue for the period, at £82.3 million, was up 35%.
© Oil IT Journal - all rights reserved.