Industry veteran appointed to help guide company's growth strategy
London - Acoustic Data, a global leader in wireless well technology, has appointed Mike Mannering as Chairman of the Board.
With over 40 years of industry experience, Mannering has previously held many senior corporate positions within Schlumberger including President of the Rig Management Group. More recently, he was the Director of Songa Offshore, advisor to several private equity funds, and Chairman and Investor in Navetas Energy Management until its sale in 2017.
Acoustic Data – founded by Mark and Jesse Tolley – recently closed an US$8m investment from Energy Growth Momentum, to scale its operations and capitalise on increased demand for its proprietary wireless downhole pressure and temperature gauge system, SonicGauge™. As Chairman, Mannering will provide strategic guidance on Acoustic Data's accelerated growth plan.
Mark Tolley, CEO of Acoustic Data, said: “Mike is a respected industry player, renowned for his technical and commercial expertise – it's a real privilege to have him on board. His industry insight and hands-on experience in developing oilfield service companies and increasing their market share will be invaluable in realising our growth strategy.”
Mannering adds: “In these low oil price market conditions, cost-effective data is a necessity for maximising the economic value of an operator's assets. Acoustic Data's SonicGauge System provides a real-time wireless solution to address this need. The key value proposition to be acknowledged is the company's acoustic telemetry system which has the potential to cost effectively transform third-party downhole hardware into intelligent systems overnight. It was this technology platform, combined with an exceptional team, which made joining Acoustic Data such an attractive opportunity.”