Exceed Managed Pressure Resources, the Managed Pressure Drilling (MPD) arm of Aberdeen-headquartered well management and performance improvement specialist Exceed, has announced a 230% rise in revenue during 2021.
The Lowestoft-based company, established by MPD experts James Parr and Jim Doran in 2016, was acquired by Exceed in 2019. Since then, it has continued to increased its global footprint, supplying a range of managed pressure and underbalanced drilling services to operators and major drilling contractors based in the UK, Norway, USA, Mexico, West Africa and Asia-Pac.
Ongoing demand for the company’s project management and execution, training, engineering, rig MPD system integration to operating, and offshore/onshore supervision services has also seen the company expand its headcount from eight to 13, with the 2021 recruits bringing an additional 100 years’ MPD experience to the team.
Discussing the past year’s results, head of managed pressure drilling, James Parr, comments: “As conventional offshore drilling becomes ever more complex and uncertain, demand for our specialist managed pressure drilling expertise continues to increase, resulting in strong, sustainable growth.
“In turn, we have continued to build an impressive track-record as operators, drilling contractors and MPD technology providers have enlisted the collective experience and knowledge of Exceed Managed Pressure Resources to successfully implement some of the headline well campaigns of 2021.”
The company, which established an office in Singapore during 2021, expects to see an increase in its activity in the Far East, based on current preparation work. In addition, its global service line will be augmented for 2022 to include the provision of qualified MPD control system operators to drilling contractors and service providers.