New venture of the year

RESMAN has been awarded «Gullkronen» 2011 as «New venture of the year». Gullkronen is awarded to companies, teams and persons who have shown remarkable achievements on the NCS during 2010.

The jury’s reasoning for awarding the prize to RESMAN was: The winner is a great example that unique technology from R&D labs can be successfully commercialized. Continued product development in close co-operation with operators and financial backing from active investors have been key elements of their impressive growth. Today their products are used by a growing number of international operators as a unique, cost effective and competitive solution to challenges that represent a huge global demand.

Since its first commercial sales in 2007, RESMAN has now installed its technology in approximately 60 wells worldwide and have companies like Statoil, Shell, BP, ENI, ConocoPhillips, Chevron, BHP Billiton, Marathon, Hess, Talisman, Pioneer, Husky, Dong, Xcite and RWE on its list of customers. The company passed $10 million in revenues in 2010 and is intent on keeping its rate of growth.

Said CEO Torger Skillingstad: I was very proud to represent all of us at the award ceremony. This award is something we are very proud of, it’s the innovation and hard work that all of us have done that has led to this industry recognition.

Said RESMAN board member and investor Bjarne Lie of Verdane Capital: The Resman organization has consistently impressed us since we first invested in the company in 2006. Very few of our portfolio companies have been able to make the transition from exciting but unproven technology to global niche leadership in such an accelerated manner. Our prior ‘Res’ investments, Reslab and Reslink, delivered great value to their customers and investors, and we are highly confident that Resman is on a similar track.

For more about Gullkronen, see www.rystadenergy.com

RESMAN Wins Hart's MEA for Production Technology

First contract with BP Norge