Companies in the news

Chevron Corp. and Rutherford-Moran signed a definitive merger agreement whereby Chevron will acquire all the outstanding Rutherford-Moran shares for about $91 million. The agreement is subject to several conditions, including a new joint operating agreement with Pogo Producing, Rutherford-Moran’s partner in its Gulf of Thailand Block B8/32 concession, and on Chevron’s acquisition of at least 5% interest in the tract from Palang Sophon Ltd.

MG Generon and Air Drilling Services Inc. formed a joint venture named International Nitrogen Services L.L.C.

Veritas DGC Inc. signed a letter of intent to purchase the parent company of Time Seismic Exchange Ltd., a Canadian seismic data library company.

Seagull Energy Corp. completed its $52.5-million asset disposition of non-strategic producing properties. The funds were applied to reduce the firm’s long-term debt.

Compton Petroleum Corp. agreed to acquire J. M. Huber Canada Ltd.

Dresser-Rand has relocated its headquarters to Houston, Texas, from Corning, New York.

Daniel Measurement Services acquired all of the outstanding stock of Metco Services Ltd.

SubSea International Americas formed a Survey Division to provide support for inspection, repair and maintenance projects in the Gulf of Mexico.

From its previous acquisition of Smedvig Holdings and Smedvig Energy Services, Deutag Drilling has established a new company, Deutag UK Ltd., based in Aberdeen.

Ocean Energy, Inc., acquired incremental interests in several North American properties from John Hancock Mutual Life Insurance Co. The properties are located in the Permian basin, Rocky Mountain and Mid-Continent regions, the Gulf of Mexico shelf and in Canada.

As an extension of its ongoing survey of the Menzel Lejmat area in Algeria’s Blocks 208 and 405, Western Geophysical will acquire a 1,243-mi, 3-D seismic survey for Burlington Resources and Anadarko Algeria. The survey will improve the structural definition of the fields.

Nuevo Energy closed the sale of its East Texas natural gas assets to an affiliate of Samson Resources.

The Occupational Safety and Health Administration (OSHA) awarded Texaco the agency’s most prestigious Voluntary Protection Program (VPP) Star Award for dedication to safety in its Maysville Gas Complex. Management, labor and OSHA work together in the VPP program to implement safety programs and processes that protect workers more effectively than simply complying with OSHA regulations.

Racal Survey Ltd. sold Racal Geodia SA, its French geotechnical operations, to SAGE. Both Racal Geodia and SAGE will co-operate in the field of offshore geotechnical investigations, but they will continue to operate independently of each other.

Black Sea Energy and Sunwing Energy agreed to merge.

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