EPI GROUP ACQUIRES P.D.F. LIMITED TO BROADEN ITS SCOPE FOR SUPPORTING CLIENTS' EXPLORATION AND DEVELOPMENT PROGRAMMES.
EPI Group (EPI) announces the acquisition of P.D.F. Limited (PDF), a leading UK-based oil & gas geoscience consultancy, providing exploration and production/development advisory services, as well as acting as the Outsourced Exploration Department™ (OExD®) for a wide range of International clients.
PDF, whose head office is in Oxfordshire, UK and is managed by Dr. Mark Enfield, will bring a new level of geoscience capability to the EPI Group. This will provide PDF's existing and new clients with a larger organisational footprint, which will support continued growth and the delivery of larger projects within a broader spectrum of advisory services. The directors and staff of PDF are remaining within the expanded business, and have important roles to play in the new organisation.
The acquisition complements EPI's core operations business of supporting land and marine seismic surveys, data processing, environmental projects and wellsite operations, whilst introducing a new advisory arm to the organisation, providing a full suite of geoscience services. The provision of geoscience advisory is via traditional consultancy or the Outsourced Exploration Department™ model, where PDF is insourced to fulfil the role of the exploration department within the clients' organisations. Services include: integrated field evaluations and production enhancement; detailed prospect level geoscience, developing assets to drill-ready stage and acting as operator where required; basin and block level play evaluation and new ventures screening; data management; due diligence evaluations and corporate support, including running and maintaining operated assets and fund raising.
Edward Bowen, CEO of EPI says: “We are delighted to announce this transformational acquisition that strengthens EPI's technical ability, enabling us to offer a broader range of advisory services to our ever increasing client base. With a proven track record of adding significant value within the full asset lifecycle, we have a great opportunity to deliver PDF's quality and innovative services to our global business. We expect to see increasing demand for outsourcing technical functions where operators have opted to reduce headcount to retain flexibility and deliver greater efficiency to shareholders. We believe PDF's quality technical offering in both the advisory capacity and Outsourced Exploration Department™ are extremely well-suited to capitalise on this industry restructuring, given their partner relationships with clients, providing a cost effective, flexible solution to support their clients' exploration and production activities”.
Mark Enfield, Managing Director at PDF Limited adds: “We are very excited to be joining the EPI Group. Both businesses, from senior management down, have a similar and complementary ethos and company culture, which focuses on quality and innovation through the entire delivery. The synergy that this new relationship brings presents an excellent opportunity to securely increase our rate of growth and create a group that is greater than the sum of its parts. These attributes, combined with adding EPI's broad geophysical expertise and its growing overseas network of operating offices, will allow us to deliver increased capability and value to our clients. Our innovative OExD® (Outsourced Exploration DepartmentTM) partnership model has proven a success over the years and we feel it is extremely fit for purpose in the current industry climate. The enlarged group will enable us to provide a true full asset lifecycle capability for E&P companies looking to create efficiencies through outsourcing without compromising on quality.”
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