OFS Partners, a new strategy consultancy and expert network, has been formally launched this week.
The London-based firm, which has made the move as many in the industry are facing 30-40% falls in year-on-year performance, says the industry is in turmoil and operators, service firms and consultancies all need to start thinking and acting differently.
OFS Partners produces oilfield services insight, underpinned by strong corporate values and driven by a commitment to creating value for its clients.
“We invest time upfront to engage with clients and understand their situation and needs,” says Andrew Paterson, Managing Partner. “We are nimble, flexible and entrepreneurial and don’t rely on pre-existing management models or methods. With targeted primary research, we partner with the client team to arrive not only at recommendations, but also at a change architecture that either accelerates growth or safeguards value.
“OFS Partners has been established amidst this downturn because we strongly believe in the value equation we can offer to entrepreneurs, business leaders, investors and high performance corporate teams,” Paterson continued. “We are excited about the opportunity to play our part in helping businesses and investors in oilfield services and the wider oil and gas industry to change, adapt and reach potential despite current market conditions."
Paterson was previously a limited partner of the KKR acquisition vehicle for Acteon Group – a portfolio of oilfield services companies, at which a number of other staff at the new firm have worked. Paterson spent just under five years working for the board and held line management roles within the portfolio companies.
Before founding OFS Partners, Andrew was Head of Strategy for Infield (now owned by Wood Mackenzie). Prior to that, he advised the Carbon Trust’s Offshore Wind Accelerator. Paterson's career began with work on drilling fluids at the BP Institute, with the commercial aim of improving drilling efficiency.