Qteq, Wireline Services to merge

Australian georesources company Qteq, in a bid to grow its mining presence in Australia, confirmed it will merge with fellow Aussie firm Wireline Services Group (WSG)
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Qteq and Perth-based Wireline Services Group (WSG) join forces

Staff Reporter

The acquisition, for which financial details were not disclosed, is the fifth this year for Qteq.

The company said the teaming will bring together its integrated technical services team with nearly 80 field logging engineers in Australia and Canada.

In addition to growing its borehole measurement sensors and systems, Qteq said it is looking forward to a new and efficient era with improved production and sustainability and environmental advantages on both national and global levels.

"We are excited to join forces with a company that shares our vision for a sustainable, environmentally responsible georesources sector," Qteq founder and CEO Simon Ashton said.

"WSG's 18 years of experience and dedicated team enhance Qteq's national and international service capability beyond our current bases in every Australian state and core hubs overseas."

WSG founder and managing director Matthew Mayne will remain with the newly combined group of companies. He called the merger a "perfect opportunity" to reach new markets.

"My first order of business will be driving the division's regional and global growth, as Qteq continues to expand into South America, Africa and Canada," he said.

WSG, which has subsurface geophysical and geotechnical measurement systems and more than 30 logging units across Australia, Asia and Canada, will combine its data services team's efforts with Qteq's team to oversee market uptake.

"Qteq's research and development team, in Perth, is building a tech-based bridge from the oil and gas sector to the coal seam gas (CSG), mining and groundwater industries, with elemental spectroscopy and MWD Systems for RC drilling," Mayne said.

"WSG's enviable reputation for delivering highly competitive, high-quality and safe services across the industry aligns with Qteq's core vision."

Qteq's most recent transitions prior to WSG were acquisitions of Surtech Systems and Wellserv in May.