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Nordic Venture Capital outperforms public markets according to new index

Nordic Venture Capital outperforms public markets according to new index

Nordic Venture Network launches the first venture capital index with actual returns from the Nordic venture capital market since 2000. The Nordic Venture Performance Index indicates that the Nordic VC-market has outperformed the public markets and other VC-markets by producing a substantial number of high value companies since the turn of the millennium. The annual net return for the Nordic Venture Performance Index of above 13% between 2000-2014 indicates excess performance in comparison with public markets such as the Nordic Small Cap Index and the NASDAQ 100 as well as in comparison with European and North American venture capital returns. “It’s great news that we have been able to create the first robust and credible Index for the Nordic VC-market”, says, Erik Hagen, former Chairman of Nordic Venture Network and Managing Partner of Viking Venture. “The analysis unveils good overall performance for Nordic venture capital and it also shows that a large number of Nordic startup companies have contributed in the value creation. Not only a few exceptional outliers as the perception might be. The analysis also points at even higher eventual returns when the effect of the fee structure of venture funds is taken into account,” Hagen continues. While there is a lack of robust return data on European and North American and European performance, other data sources would indicate that the Nordic venture market has outperformed both. “The new Index will be a vital tool in communicating the performance and risk profile of the Nordic VC-market and will help attract more capital to exciting Nordic innovative companies going forward”, Hagen states.   Read more about the new...
Read Cased Hole wins contract with Hess Denmark ApS

Read Cased Hole wins contract with Hess Denmark ApS

READ Cased Hole (READ) has been awarded a cased hole logging contract by Hess Denmark ApS, a wholly owned subsidiary of Hess Corporation and one of the world’s leading independent oil and gas companies. The framework contract appoints READ as the preferred provider on a four year basis with one year extension option available. Building on a 17-year track record of successful operations in the region this contract further extends READ’s presence in the Danish North Sea and enhances their reputation as a leading provider of production and integrity evaluation services for complex, horizontal wells. Earlier this year Hess announced plans to drill four production wells and begin one water-injection well in the South Arne field in Denmark, where the company holds 62% interest as operator. This further investment follows from the recently completed 1 billion USD Phase III redevelopment project to help extend the productive life from the field. READ’s combination of unique technology and diagnostic prowess deliver quantitative assessment of downhole well performance, providing Hess with valuable insights to help maximise efficiency and enable cost-effective recovery for those newly drilled wells in a field that’s been in production since 1999. “It’s a great win for all of us at READ”, said Roy Martin, READ CEO. “We’ve been working on this opportunity for the last year and we are delighted to have such a key role in this project and be able to make a difference for Hess when it comes to production optimisation.” READ is a Viking Venture portfolio company. Visit readcasedhole.com for press release and more information. More READ Cased Hole news: Multi-million contract award for...
Multi-million contract award for READ

Multi-million contract award for READ

Aberdeen-based production and integrity evaluation specialist READ Cased Hole (READ) has been awarded a multi-million pound contract by Danish energy giant, Maersk Olie og Gas A/S. The dual-award, five year contract with an optional three-year extension appoints READ as the primary service provider for cased hole logging services, including production evaluation and well integrity domains, which would be delivered across Maersk’s assets in the Danish North Sea. «The new contract win is a testimony to our 17 year-strong and successful relationship with Maersk,» said Roy Martin, CEO of READ «and we are confident that the range of production and well integrity solutions READ will continue providing will be instrumental for Maersk’s success as the market leader in mature well management and recovery. This contract puts READ on the track to working with Maersk for a quarter of a century and the results of this collaboration show that optimisation and effectiveness is more than just an industry trend during tough times, but a sustainable practice with tangible results.» About READ Cased Hole READ Cased Hole is the specialist in production and integrity evaluation, delivering fast and reliable cased hole log data analysis which allows well operators make qualified decisions quickly while minimising risk and maximising efficiency. READ Cased Hole is a company in the Viking Venture portfolio. For more information and press release, visit readcasedhole.com » More READ Cased Hole news: READ has appointed Roy Martin as CEO...
NTNU and Petrostreamz in collaboration on Integrated Asset Modelling

NTNU and Petrostreamz in collaboration on Integrated Asset Modelling

Petrostreamz AS has donated 35 licenses of its flagship software Pipe-It to the Norwegian University of Science and Technology (NTNU). The licenses will be used in research and development as well as for use in petroleum courses at NTNU IPT. Integrated Asset Modelling is rapidly becoming a new engineering discipline within the Oil & Gas industry as a means to gain a more accurate understanding of the value chain and enable optimization from reservoir to point of sales. Pipe-It can integrate the existing software models currently used to analyze individual parts an oil and gas field Using Pipe-It, the entire asset or field complex can be analyzed and optimized from the initial field development phase and throughout an assets operational life. The core technology in Pipe-It keeps track of the hundreds of components in the oil and gas streams from each well and perforation through to point of sales. Visit petrostreamz.com for press release and more information. About Petrostreamz Petrostreamz AS is a global expert in Integrated Asset Modelling (IAM) and supplier of software and solutions for value chain integration and optimization of Oil & Gas fields. The company is located with its headquarter in Trondheim, Norway, and offices in Oslo, Dubai, Houston, Rio de Janeiro, Yogakarta and Bordeaux. Petrostreamz is a company in the Viking Venture portfolio. More Petrostreamz news: Petrostreamz nominated for Gullkronen 2015 Petrostreamz listed as one of twenty Norwegian companies worth following in 2015 Petrostreamz awarded contract on optimizing production in Saudi...
Ziebel names new Chief Executive Officer

Ziebel names new Chief Executive Officer

Ziebel has appointed a new chief executive officer. Francis Neill took up the post, effective from 21 September, and is now responsible for the strategic direction and operating performance of the company. Based in Aberdeen, he will be responsible for Ziebel’s strategic direction and operating performance. He will help to develop the company, bring strong revenue growth, and optimise the use of its distributed fibre optic sensing technologies. Neill has 32 years in the oil and gas industry and, before joining Ziebel, acted for five years as CEO of EV. During that time he helped to turn it from a UK-only company to an award-winning, multi-million pound global organisation. He has also served in a variety of executive management and engineering roles all over the world, which have taken him to Belgium, England, Egypt, Jordan, France, Texas, Louisiana and Scotland. Francis said: “It is incredibly tough times in the oil and gas industry, but Ziebel has some great technology to enable operators to increase reservoir recovery factors. The start-up of our operations in the US has been well received, and the value of Z-Rod applications for unconventional wells is being demonstrated. The combination of composite deployment technology and distributed fibre optics is delivering data that gives real value to operators.” About Ziebel Ziebel is a market leader in composite rod well intervention for the oil and gas industry. The company’s game changing carbon rod with fiber optic intervention technology that we call the Z-System® is currently the main service offering. The Ziebel group is around 40 employees worldwide, with offices and operations in Stavanger, Aberdeen and Houston. More Ziebel...