The Hafren Scientific Group (which trades under the names Chemostrat and Origin Analytical) announces the acquisition of X-ray Mineral Services Ltd. (XMS), a company specializing in XRD mineralogical and XRF elemental analysis for upstream oil and gas companies and large geological service consultancy groups. In response to a lower oil price environment since 2014, XMS also established a successful non-Oil & Gas analytical business with customers in the extractive, manufacturing and environmental sectors.
This acquisition adds several important components to Hafren's existing multi-disciplinary geoscience offering as well as diversifying further its non-oil and gas service delivery capability. The enlarged Group will also benefit greatly from the integration of XMS' industry leading and experienced team of specialist analysts, geologists and technicians.
XMS's business is complementary to that of Hafren. XMS is known for its quality XRD commercial mineralogical data, as illustrated recently by its strong performance in the academic Reynolds Cup competition. It also continues to set the standard for analysis and evaluation of XRD data for detailed hydrocarbon reservoir evaluation. Meanwhile, Hafren's Chemostrat Inc in the US has redefined the benchmark for unconventional reservoir analysis providing fast, cost-effective and ‘fit for purpose' solutions that enable clients to efficiently design, drill and complete unconventional reservoirs. IR technology is at the core of Chemostrat Inc's workflow, but this is dependent on high-quality XRD data for calibration. Bringing XMS into the Hafren Group will greatly assist in the development of a scalable global service suitable for all current and emerging tight rock plays.
Chemostrat, together with its JV company Future Geoscience (a JV with PetroStrat Ltd also based in Wales), is also expanding its data delivery capability through a portfolio of large scale multi-disciplinary proprietary and multiclient geological studies which integrate large high-quality elemental and mineralogical data sets. The XMS acquisition increases inhouse capacity to undertake such work, creating a new Centre of Excellence for mineralogy and reservoir quality.
XMS also offers a specialised XRD and XRF analytical service for extractive, geotechnical, environmental, recycling and academic clients and provides quality control data for tile, brick and ceramic manufacturers. In addition, it offers expert advisory services on mineralogical issues. These services are complementary with those of Hafren's Origin Analytical division and the acquisition will be a catalyst to optimise analytical workflows that support the Group's broader diversification strategy.
"We're all very excited about joining the Hafren team. Our analytical expertise fits perfectly into Hafren's current suite of services, and these synergies will yield better service and data to our mutual clients," said Stephen Jones, MD of X-ray Mineral Services. "Furthermore, our non-oil and gas business stream will be complemented and strengthened by the services of Origin Analytical, producing a highly capable analytical and consultancy team to tackle a wide range of issues facing extractive and industrial clients".
"Additionally, XMS's services will be leveraged using Hafren's worldwide network, and we will establish together a unique commercial Centre of Excellence for mineralogy to support Oil and Gas as well as a broadening our diversification strategy. Needless to say, we're excited about the future."
"Our geoscience group believes that high-quality data is at the heart of robust geological solutions and the Hafren Group has had considerable success in providing practical solutions for clients that do not compromise on quality," said Tim Pearce, Hafren Group MD. "The integration of XMS' analytical capability and highly skilled staff will greatly enhance our ability to continue to innovate cost-effective data delivery to our clients as well as diversifying the Group's client base further".
The Hafren Group wishes to acknowledge the continued support of the Development Bank of Wales and the Welsh Government. This transaction will further strengthen geoscience service provision, an important export sector, in Wales.
Dr Paul Carey – Hafren Scientific Ltd – Marketing Sales Director – +44 (0)1938 555330Stephen Jones – X-ray Mineral Services Ltd – +44 (0)1492 535250
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