Aberdeen-headquartered well and reservoir management specialist, Exceed, is set to be acquired by global integrated energy service partner, Kent, following the signing of a binding agreement between the two companies.
The acquisition marks Kent’s strategic expansion in the fast-growing global decommissioning market, delivering on its aim to become a full-service partner across the energy lifecycle, including late-life operations through to the safe and successful decommissioning of customer assets.
With operations spanning over 40 countries, Exceed has been delivering complex offshore well projects for two decades, with over 70 wells drilled and more than 150 decommissioned to date. As one of only three licensed UK Well Operators, Exceed is recognised for its depth and breadth of technical expertise and a strong client base that includes leading international, national and independent energy organisations.
Exceed’s proven delivery model and outstanding track record will combine with Kent’s global platform and project execution strength to meet growing demand for safe, compliant and cost-effective end-of-life solutions for oil and gas infrastructure.
For Exceed, the partnership with Kent unlocks access to a truly global footprint, a wider portfolio of tier-one clients, and the financial capacity to pursue larger, more complex scopes across new geographies. From Kent’s perspective, the acquisition strengthens its position in a decommissioning market which is set to double in size over the next decade, with global offshore decommissioning spend expected to rise from $8 billion to $16 billion per year by 2035.
Ian Mills, Exceed Managing Director comments: “We’ve built Exceed over 20 years with a commitment to technical excellence, innovation and client trust. Joining forces with Kent is the natural next step, providing the management support and global reach to scale our expertise to new markets while preserving the same culture, entrepreneurial spirit and values that define us.
“This deal also unlocks significant opportunities in the energy transition space. Exceed is already repurposing reservoirs for carbon capture and hydrogen storage projects, and combined with Kent’s existing expertise in low carbon and renewables, we will bring an unmatched offering to the marketplace.”
John Gilley, CEO of Kent adds: “Our agreement to acquire Exceed is a bold step into the future of responsible energy operations. Exceed’s specialist capabilities in well and reservoir management, coupled with their strong reputation in decommissioning, complement our vision of offering full lifecycle services to our clients. Together, we will be uniquely positioned to help the industry navigate energy security, net-zero mandates, and the safe retirement of offshore assets.”
The transaction is expected to complete later this year.
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