Exceed, a specialist in well management and performance improvement, has recently announced that it has recruited eight former senior members of staff from Applied Drilling Technology International (ADTI) sine it ceased trading in May 2015.
Closing ADTI and forming a new venture as a result
ADTI was closed for business by its private equity owner, Sun European Partners.
As a result, 90 jobs were cut, however, concurrently, the decision lead eight senior members of ADTI to actively look at ways to continue to operate. Following discussions with Exceed, a new venture was formed with the intention of continuing to serve former ADTI clients and the wider North Sea market.
The project brings Exceed’s total number of staff to 30 people, with 20 contractors working on projects both in the North Sea and globally – in Canada, West Africa and South East Asia. Furthermore, it will extend Exceed’s service offering to include well abandonment, production technology and petroleum engineering.
New roles at Exceed for former ADTI staff
The former ADTI staff have joined Exceed as stakeholders through a newly-formed subsidiary. They will undertake the following roles: commercial director of wells, well engineering and operations director, wells project manager, subsea manager, production technology and petroleum engineering manager, engineering team lead, completions and workover manager, and well test and decommissioning manager.
A wider range of services and creation of jobs
Al Brockie, Head of Wells Management at Exceed, said: “There is a strong strategic fit between ADTI and Exceed, with both companies offering a range of wells management services in different markets.
“The move also sends an important message to the industry in a time when thousands of jobs are at risk across all sectors and many talented professionals are being made redundant purely as a result of cost saving measures,” he added.
Re-opening doors locally and nationally
John Anderson, Exceed’s newly appointed Commercial Director for its Well division, said: “This is an opportunity for us to continue servicing existing customers and preserve the ADTI bloodline, quality and levels of service. Our team brings strong historic client relationships with a number of North Sea based operators and we are very optimistic that this newly combined service offering and track record will re-open doors both locally and nationally.”
Adapted from press release by David Bizley