News articles regarding joining Three60 group
News articles regarding joining Three60 group
Today (3 August 2018), Stavanger based Ridge AS (“Ridge”) announced it has partnered with Three60 Energy (“Three60”), a fast-developing energy services group backed by Simmons Private Equity (“SPE”), an energy focused private equity fund. This investment marks the addition of a third company into the Three60 Group.
Established in 2011, Ridge specialises in the provision of engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines mainly in the Norwegian North Sea. The company has established a sound track record with its client base including around 20 major oilfield Operators, with projects delivered by a team of more than 90 specialist engineers. The business completed the acquisition of Ocean Maxwell in December 2017, adding engineers with subsea, subsurface and facilities capabilities and enabling Ridge to provide a wider spectrum of services to clients in Norway, Denmark, UK and Singapore.
The acquisition of Ridge represents the third constituent company of the Three60 Group following the investments in LEAP Energy and Step Change Engineering. LEAP Energy is headquartered in Kuala Lumpur, providing subsurface technical consulting and software development services. Step Change Engineering is based in Aberdeen and provides design engineering and project management services focused on both onshore and offshore facilities in the UK.
The headquarters of Ridge will remain in Norway and the existing management team of Ridge will continue to lead business operations, with key personnel to be recruited in Three60’s UK and Southeast Asia locations to supplement and expand the Ridge offering internationally.
Ridge will also benefit from the support of the Three60 leadership team.
Gerwyn Williams, Group CEO said, “The acquisition of Ridge represents a key service addition to the Three60 Group as we continue to build a global portfolio of excellent companies who together will provide Operators with a complete suite of technical services across the whole asset life cycle. We know that customers of LEAP Energy, Step Change Engineering and Ridge want them to offer a wider capability with the same technical excellence and service ethic they currently provide.”
Walter Thain, CEO North Sea Business said, “This addition to our overall service capability is extremely timely as we look to consolidate our integrated offering with capability in subsurface, drilling and facilities in conjunction with geographic expansion. We believe we can grow this business through adding capability including well engineering and production optimization services, continuing and accelerating the growth trajectory in Norway, and exporting the subject matter experts’ capabilities overseas.”
Jarle Veshovde, Managing Director of Ridge, said: “We are delighted to join the Three60 Group and look forward to leveraging our combined international footprint and exporting our services overseas. The wider integrated offering, with Step Change Engineering and LEAP Energy, will enable us to provide an enhanced service in field development, well management and production optimisation for our customers.”
About Three60 Energy
Three60 Energy is a fast-developing energy services Group whose aim is to deliver a more complete solution for owners, developers and operators of energy assets. Its strategy is to build a portfolio of oilfield services operating across the entire asset life cycle within the oil and gas industry both onshore and offshoreThree60 Energy has already acquired capability in Reservoir Engineering (Leap Energy based in Kuala Lumpur, Malaysia), Brownfield Engineering (Step Change Engineering based in Aberdeen, UK) and is in active discussions with a number of other companies interested in participating in the Group.
About Step Change Engineering
Step Change Engineering provides design, engineering and project management services in relation to brownfield projects and the repair and minor modification of topside Oil and Gas facilities in the UKCS. It currently has a team of approximately 50 experts based in Aberdeen, covering all engineering and project management disciplines in the sector. The company has been recognized extensively for its achievements, winning the ‘Business Success Under Three Years’ at the last Elevator awards, as well as being named as a finalist for the ‘Great Company Award - SME’ in the upcoming 2018 Offshore Achievement Awards.
About LEAP Energy
LEAP Energy was founded in 2008, with operated offices in Malaysia and Australia. The core activity is to provide subsurface technical consulting and software development services globally to Independent Oil Companies, National Oil Companies and Government bodies. Through a team of 100 technical staff, the company offers expertise in difficult hydrocarbon recovery, fractured reservoirs, mature field production optimization, enhanced oil recovery and unconventional resources such as coal bed methane. Besides a core competence in reservoir studies, LEAP Energy is also very active with Advisory Services, supporting M&A activities, asset and corporate valuation, and production optimisation and flow assurance. Since becoming the Three60 Energy founding company, the company has established a capability in operational geoscience, seismic project management and technical HSE, supporting both oil & gas and renewable projects.
About Simmons & Company
Simmons & Company are the Energy Specialists of US bank Piper Jaffray and have one of the largest and most experienced energy investment banking teams in the industry. The latest Simmons Private Equity fund II has raised approximately £130 million for investment in small to medium size companies who provide a differentiated offering to customers. To date, this fund has invested in Starn, specialising in services to support integrity services, the Seanamic Group specialising in subsea and marine related products, and the Pryme Group who specialise in component and outsourced manufacturing services.
Press Release 09.01.2018
Ridge AS acquires Ocean Maxwell AS
Ridge AS, a privately owned high-end well engineering and consultancy company based in Norway, are pleased to announce the acquisition of Ocean Maxwell AS, a Norwegian oil and gas consultancy company owned fully by founder Cecilie Sælen. With this acquisition, Ridge will further enhance the ability of the company to best serve the needs of new and existing customers in the upstream oil and gas industry.
The acquisition of Ocean Maxwell fits perfectly into the Ridge company strategy of providing objective, best-in-class engineering personnel and technical studies to the upstream oil and gas industry. With the purchase, Ridge will be able to offer a wider spectrum of such services to clients in Norway, Denmark, UK, Singapore and the rest of the world.
Ridge will deliver inspired engineering and consultancy services within four main O&G disciplines: Subsurface, Drilling & Wells, Subsea and Facilities. “Ocean Maxwell increases the portfolio of services we can offer to our clients, with their subsea and facilities engineering pool.” says Jarle Veshovde, Managing Director in Ridge. “Our focus as a company continues to be delivery of engineering excellence and the highest quality solutions and advice, which we have become renowned for.”
After the acquisition, Ridge comprises a pool of approximately 80 specialist engineers and consultants, with a projected 2018 turnover exceeding NOK 160 million.
Ridge is now further reinforced as one of the strongest independent specialist consulting companies within the oil and gas technical engineering and consultancy market in Norway, particularly in the E&P segment. A larger engineering team, increased customer base and a strengthened back-office support capability allows for providing a more comprehensive service to the industry.
Jarle Veshovde Managing Director
+47 404 13 254 email@example.com
Cecilie Sælen Manager Subsea & Facilities
+47 971 88 547 firstname.lastname@example.org
We are excited to announce that Lasse Hermansson and Ridge have been nominated for EY Entrepreneur Of The Year for 2017. The world’s largest entrepreneurship programme, the EOY programme passionately believes in promoting entrepreneurship and empowering entrepreneurs to grow their businesses nationally and globally. Lasse and Ridge has been chosen from more than 3500 growth companies in Norway. There will be 6 regional finals prior to a national final in Oslo. The international final will be held in Monaco. First round, will be the regional final in Stavanger, October 24th .
Read more here: https://lnkd.in/gHpVkws
Foto: Tomas Larsen
A big thank you to guests, speakers and sponsors for making the Ridge Day 2017 a memorable event. We are all moving forward with more Courage, thanks to you.
See you again next year!
It is the week of the annual Ridge Day.
The theme this year is COURAGE.
We are pleased to see that the available spots have been filled up rapidly. Karina Hollekim will talk about daring to dream, guest speakers from operators will share their thoughts and experiences on what Courage means to them. Accompanied by good food, specially made refreshments, entertainment and a door price second to none.
We are certainly look forward to it!
The annual Ridge Day is fast approaching.
Last year we focused on Performance. The theme this year is COURAGE.
Guest speakers from Energy Ventures, Aker BP, DNO and OKEA will share their thoughts and experiences on what Courage means to them.
The second Well Completion Training Course for a service operator were just delivered. The course was delivered with an operators view. Both course in general and presentations scored 5,42 of 6 in our standard course evaluation form.
Standard or Tailor Made courses can be delivered to suit your company needs on short notice.
OKEA have awarded a frame agreement to Ridge AS for “Well Management Services”. Under this contract, Ridge will provide personnel and services to manage offshore well design, construction and operation for OKEA. The initial contract term is three years, with three possible one-year extensions.
“We are proud that OKEA chose us for this work”, says Jarle Veshovde, Managing Director of Ridge. “Today’s market separates the wheat from the chaff, and this award shows that OKEA appreciate the knowledge, culture and solutions that Ridge possess. It will be very exciting to work with OKEA, who are visionary, creative and driving a fresh approach to field development on the Norwegian Continental Shelf. Together with our cooperation partners and specialists we have established a first class team who will help OKEA create value and push performance in their projects. We see that our goals are aligned with those of OKEA, and we are eagerly looking forward to this strategic cooperation.”
Do you want learn how to improve drilling performance?
Do you want to try “state of the art” drill string optimisation software?
Ridge AS is pleased to announce that one of our technical collaboration partners DrillScan are planning to hold a short but intense master class in our Forus office. DrillScan are an independent company that offer unique business solutions for improving drilling performance through software development, well engineering services and laboratory based research & development.
The objective of the class is to reinforce your knowledge in Drillstring Mechanics and Directional Drilling by using advanced technologies and real case studies. Most sessions strongly rely on the use of DrillScan’s proprietary Software. Attendees are required to bring their laptop. Each participant will have the possibility to use DrillScan Software after the training (full 30-day trial)! The course will be held in English.
Attendants: Drilling Engineers, Application Engineers, Drilling Optimization Engineers.
The cost for a two-day seminar is 19.950 kr. The course will be held in Kontorveien 12 (Kai Hansen Trykkeri-building).
Please sign up before November 15 by sending an email to email@example.com
For more information about DrillScan and Ridge please visit their websites by clicking on the link in the bottom of this email.
It is extremely pleasant for us to register that some companies think ahead and educate their people, despite the times we’re in. A major service operator just finished a series of two day courses in Well Completions with us. The course had focus on the operators view. In a tough marketplace, this could make a big difference. Based on the feedback given, this was very educational and valuable for them. They might come back for more....
Photo: Tomas Alf Larsen
We are very proud to announce that Ridge has been named the winner of the 2015 Gaselle
Award for Rogaland. The Gaselle Award goes to the fastest growing and most well run
companies in Norway.
Yes, we have a new name- Ridge