PRESS RELEASE: Surtech is a provider of downhole geophysical measurements and utilises a fleet of 23 vehicles across Australia, with main bases in Perth and Brisbane.

The acquisitions will provide the Brisbane-based company with Surtech's systems to collect accurate data on the composition and behaviour of subsurface rocks.

Surtech founder and managing director Martin Mulliner, who launched the company more than 20 years ago, said the integration of the two businesses would provide many opportunities.

"We will build on our shared vision to offer the most innovative subsurface services and technology in Australia, across all georesources," Mulliner said.

Qteq CEO and chair Simon Ashton commented: "It is a complementary acquisition which greatly enhances our service capability, with operational bases now established in Western Australia, South Australia and Queensland.

"It will accelerate the market adoption of our BMR (borehole magnetic resonance), Spectroscopy and LWD (logging-while-drilling) services that we are currently developing."

In addition, Qteq has agreed to acquire directional & measurement while drilling (MWD) company WellServ.

The two companies form Qteq's third and fourth acquisitions for this financial year.

Qteq has grown from 40 employees, since launching in August 2017, to more than 110 today.