Elemental Energies has today confirmed that it has acquired Senergy Wells, a Vysus Group company, for an undisclosed sum.
The acquisition is the first in a strategic buy-out of wells-focused firms by the newly formed independent specialist, which is due to open new offices in the city in early 2023.
Elemental Energies, a privately owned company, has been launched to bring together world-leading wells expertise to solve complex challenges in both oil and gas, decommissioning and low carbon sectors – specifically carbon capture, utilisation, and storage (CCUS), and geothermal projects.
The acquisition will see the full Senergy Wells team transition to Elemental Energies over the coming weeks. Current clients will continue to be supported by the same long-term engineering specialists.
Industry veteran, Martyn Fear, has been named as Chairman of Elemental Energies. He brings almost 40 years of energy experience to the role having held mostly well-focused and leadership roles with operators during his career. He is also the former Global Head of Wells for Maersk Oil.
Mr Fear said: “Today marks the first step towards a focused and exciting chapter for Elemental Energies. We have formed the company to provide a connected engineering approach to global wells challenges. By building an integrated team of the world’s brightest wells-focused engineering talent, on behalf of our clients we are able to apply deep experience developed in the oil and gas sector to solving the complex challenges of oil & gas, decommissioning and low carbon projects.
“We are fully committed to the long-term future of Aberdeen. The city is rapidly becoming one of the world’s leading diversified energy hubs – creating new job opportunities and providing pathways for people in the oil and gas sector to transfer their skills. We look forward to playing an active role in this.
Michael Dafforn, Director of Elemental Energies, added: “The Senergy Wells team is hugely experienced and respected globally, and we will work to further nurture and develop this capability. Everyone who is joining Elemental will play a central role in shaping our future. We are delighted to welcome them and their clients to the company.
“Senergy Wells, with its leading reputation and heritage, provides the perfect platform for our future growth and acquisitions as we look to become the leading independent wells-focused consultancy.”
Vysus Group announced internally to its team last month that it would be divesting the division as part of a strategic review of its business.
David Clark, Vysus Group CEO, said: "Vysus Group continues to expand and develop its offering, delivering high-value technical consultancy services to our global customer base. While Senergy Wells has continued to grow throughout 2022, the activity mix does not align with our longer-term core strategy, and we believe the business will prosper more effectively under the ownership of a company fully focused in the wells management sector.
“We're proud of the legacy, history and strong market recognition that the Senergy Wells business has delivered in recent years and we wish the team every success in this next chapter. Elemental Energies is an ideal home for both the team and the clients we have worked with, which will now be supported by Elemental.”
Further announcements regarding Elemental Energies’ future plans and leadership team are expected to be made in the new year.
