FrontRow strengthens board with strategic CEO appointment
Steve Kent demonstrates DTI’s exciting new technology which uses geometric transformation of a 3D-printed metallic element for high ratio well isolation challenges
FrontRow Energy Technology Group has appointed Steve Kent to the position of CEO in a strategic move to strengthen its board ahead of planned global growth
Mr Kent joins forces with Stuart Ferguson and Graeme Coutts, who have taken up the positions of Executive Chairman and Executive Director respectively, as well as Neil McGuinness, Frank Summers, Colin Smith and Richard Pugh who continue in their existing roles. The strategic board reshuffle is designed to maximise senior commercial talent ahead of strong anticipated growth.
The FrontRow Energy Technology Group, which includes Unity, DTI, Well-SENSE and ClearWELL, is focused on delivering value to the energy industry by solving production and decommissioning challenges through innovation and new technology.
It has experienced combined revenue growth of around fourfold since trading began in 2017, with gross profit up sixfold, a total headcount currently standing around 180 and an ever-expanding international client base and supply chain.
FrontRow expects this trajectory to accelerate, with innovation and product development high on the agenda, alongside strategic partnerships, internationalisation and strong growth in decommissioning activities.
Mr Kent said: “FrontRow has an exceptional portfolio of energy technology businesses with huge potential for value creation. My focus will be on creating value through international growth, market positioning and stakeholder connectivity.
Steve Kent, CEO and Stuart Ferguson, Executive Chair, FrontRow Energy Technology Group
“Here in Aberdeen the engineering talent is exceptional and we need to anchor these skills long-term in the region. There is a general perception that the North Sea oil and gas industry is in a state of steady decline, but the reality is that Aberdeen is a global city servicing global energy demand, with an exciting multi-decade opportunity in decommissioning ahead. This is a key decarbonisation mechanism, but it requires talent, technology and investment.
“Technology incubation has transitioned from the domain of operators down the supply chain, and is now primarily championed by tech start-ups, but the missing part of the equation is access to growth capital. FrontRow will continue to invest, grow and drive value creation across its portfolio, collaborating with stakeholders to help tackle some of the industry’s biggest challenges to date.”
Mr Kent is an accomplished C-Suite executive with over 30 years of entrepreneurial leadership in the global oil and gas service sector. His early career was spent in international technical and management roles at Schlumberger, Weatherford and Petroline. Subsequently he built a strong track record in high-growth business management, strategic innovation, successful investment and M&A activities, and co-founded the energy services investor EPI-V in 2007. He joins FrontRow following a tenure as Executive Chairman at Deep Casing Tools having recently facilitated its successful acquisition by the US corporation Drilling Tools International. Under Mr Kent’s leadership, Deep Casing Tools was recognised as one of the fastest growing UK technology companies in the Deloitte Fast Fifty Awards 2023 and won a prestigious Kings Award for Export earlier this year.
Former CEO, now Executive Chair, Stuart Ferguson who was instrumental in Mr Kent’s appointment, explained: “The Group’s growth and our ambitions for the future are presenting new opportunities and challenges so the time is right to add to the leadership team. I’d like to emphasise this is an additive approach, as although our titles have changed, Graeme and I will continue to work as we did before. Adding Steve’s outstanding vision, talent and leadership skills will support our growth and amplify further success.”
About FrontRow
FrontRow Energy Technology Group is a dynamic upstream oil and gas services group focused on dramatic cost reduction and value creation through the application of innovative technologies and ways of working. FrontRow comprises a number of complementary businesses with a collaborative work ethic, seeking smarter and more efficient ways to manage energy assets. Group companies include Unity, DTI, Well-SENSE and ClearWELL, which combine expertise in well integrity, well intervention, production enhancement, flow assurance and decommissioning. www.frontrow-energy.co.uk
