2003 Profit Track 100
Rank: 46 Reeves Oilfield Services
Equipment is used to locate oil and gas in boreholes
This company makes and operates instruments that examine boreholes drilled into oil and gas reservoirs. Founded in 1970, the Loughborough firm works for all the leading oil companies, although much of its business comes from independent operators in the Canadian gas fields. Reeves says it is getting more custom because its technology helps exploration companies reduce the risks and costs of sinking boreholes. Profits at the company, which is staff-owned and backed by 3i, the venture-capital firm, have grown 50% a year from £3.7m in 1999 to £12.6m in 2002.
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This company makes and operates instruments that examine boreholes drilled into oil and gas reservoirs. Founded in 1970, the Loughborough firm works for all the leading oil companies, although much of its business comes from independent operators in the Canadian gas fields. Reeves says it is getting more custom because its technology helps exploration companies reduce the risks and costs of sinking boreholes. Profits at the company, which is staff-owned and backed by 3i, the venture-capital firm, have grown 50% a year from £3.7m in 1999 to £12.6m in 2002.
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Company facts
Reeves Oilfield Services
Oilfield services provider
Company website
| Profit growth | 50.04% pa |
| 2002 profit | £12.6m |
| 1999 profit | £3.7m |
| 2002 staff | 434 |
| Founded | 1970 |
| Location of HQ | Loughborough |
| If applicable: * = annualised figures ‡ = draft accounts |
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