Ardyne cements its position in N. Sea decommissioning market with take-over of Norwegian rival

Alan Fairweather
Alan Fairweather

Ardyne – a new oilfield services company launched with £50 million backing from Lime Rock Partners – has made its first acquisition. 

Headquartered in Aberdeen, Ardyne specialises in the provision of downhole products and services for plug and abandonment (P&A) and slot recovery operations in the global oil and gas sector.

To accelerate its growth, Ardyne has acquired Wellbore AS, a Norwegian oil service company that is a leading provider of downhole tools for casing cutting and pulling. Wellbore has 29 employees and offices in Tananger, Bergen and Aberdeen.

Alan Fairweather, Ardyne chief executive, said: “Wellbore’s offering and culture is the perfect complement to Ardyne as we launch our business. We have been very impressed with the Wellbore team’s emphasis on quality and service delivery.  The current management team will continue to run Wellbore AS and its facilities in Norway.”

Trevor Burgess, Managing Director, Lime Rock Partners, said: “This is the ideal time to create a market leader in decommissioning and slot recovery. Commercial pressures are pushing field redevelopment and decommissioning higher up the agenda in the North Sea and elsewhere.

“We are backing an exceptionally strong management team with a well-researched business plan that can exploit this opportunity.  Ardyne will help ensure that Aberdeen and Stavanger maintain their position as centres of excellence in the offshore oil and gas business.”

The 2016 UK Oil and Gas Collaboration Conference – Aberdeen 14 April 

Pixie Energy

Pixie logo Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy here.

Local Energy Matters: Scotland

Local Energy Matters: Scotland is a free-to-download brochure with a focus on energy tariffs in the two Scottish electricity distribution regions, as well news on local energy and low-carbon schemes.

Previous editions can be download here.

Scottish energy market overview

You can read an overview of the Scottish energy market here.

Scottish Government energy feed