PX Group acquires NRG Well Management
On the 29th of April 2020, px Group, the leading energy and industrial solutions business, is pleased to announce that it has acquired a majority stake in NRG Well Management, a leading provider of Well Management services to the Oil & Gas industry.
NRG Well Management Ltd provides engineering and project management solutions to the global upstream Oil and Gas Industry, providing a complete managerial and technical package that covers the whole exploration, appraisal, development and P&A life cycle.
This acquisition gives px Group unique access to the capabilities and experience of the wider Aberdeen based NRG Group, now in its 25th year of operation, aligning to px’s growth ambition and plans. With a broad range of well and asset lifecycle expertise totalling over 900 years now at px’s disposal, the acquisition will bolster px’s service offering to new and existing clients.
Commenting on the acquisition, Geoff Holmes, Chief Executive Officer at px Group, said:
“NRG Well Management brings industry-leading expertise to px Group, extending our capability to the full upstream asset lifecycle. On a personal note I am delighted to build an even stronger working relationship with the Mackay family.”
“NRG is not only sizeable and reputable, but the company has significant potential for growth with its wide range of operator clients across the North Sea. It is known worldwide for quality and consistency in delivery, which is something we at px Group pride ourselves on.”
Daniel Mackay, Managing Director of NRG Well Management, says:
“We are delighted to be joining the px Group, adding to px’s expertise across the asset lifecycle and are very much looking forward to the growth opportunities this brings.”