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Vol. 225 No. 4 |
Schlumberger Oilfield Services has received top recognition by BG Group for a well placement solution in Minerva-Hub development wells in the southern sector of the North Sea. The project was initially selected as one of nine finalists before winning in the “Alliance with External Parties” category as part of this year's BG Chief Executive Innovation Awards. For the Minerva-Hub wells, BG Group, Schlumberger and GlobalSantaFe designed and executed a multilateral openhole sidetrack solution to increase well exposure to reservoir sweet-spots and maximize productivity.
Andergauge Drilling Systems has relocated their headquarters to a larger facility in Altens, Aberdeen, Scotland. In recent years, the company has expanded geographically and now has 17 overseas locations. The new HQ building will provide support for worldwide operations, and will house the R&D department and the Europe/ Africa Region office. The larger facility will accommodate an expansion in tool fleet and personnel. The tailored workshop environment ensures efficient tool maintenance and provision for additional testing and client demonstrations.
ExxonMobil Corp.'s additions to its worldwide proved oil and gas reserves totaled 1.7 billion boe in 2003, replacing 105% of production, including property sales. Excluding property sales, reserves replacement totaled 107% of production. The 2003 results were led by significant additions from the Caspian region, Qatar, West Africa, and from new and established operations in Europe.
Transocean Inc. began marketing efforts for a proposed initial public offering of its wholly owned subsidiary, TODCO. Transocean expects to offer 12,000,000 shares of Class A common stock, or approximately 20% of TODCO's outstanding shares. The estimated price range has been set at $11.00 to $13.00 per share. All of the shares are secondary shares being offered by Transocean. The common stock will trade on the New York Stock Exchange under the symbol “THE”.
Foster Marketing Communications has relocated to larger offices on North Beltway 8 in Houston to better serve its growing base of domestic and international clients. FMC is now at Greenbriar Place, 650 N. Sam Houston Parkway E., Suite 550. FMC specializes in business-to-business marketing in general and the oil and gas industry in particular.
The Energy Services Division of Nalco Co. has agreed to partner with PROPETROL-Serviços Petroliferos, Ltda, an Angolan company established in 1996, to form a new venture. It will operate as Nalco Angola and provide oilfield and refining process chemicals and on-site service. The venture will absorb Nalco's existing infrastructure and in-country manufacturing and will build and operate a second 4,600-sq-m laboratory, manufacturing facility and distribution center in Soyo.
Cooper Cameron Corp. completed the acquisition of Petreco International, a Houston-based supplier of oil and gas separation products, for approximately $90 million, net of cash acquired and debt assumed. Petreco provides custom processing products to the oil and gas industry worldwide. Petreco's 2003 revenues were about $117 million, generating $12 million in income before taxes. In addition, Cooper Cameron consolidated its two compression-related divisions, Cooper Energy Services and Cooper Turbocompressor, into one division named Cooper Compression. The new division encompasses reciprocating and centrifugal compression equipment and aftermarket parts and services, and serves customers in the energy industry.
BG Group agreed to acquire El Paso Oil and Gas Canada, Inc., from El Paso Corp. for US$345.6 million in cash. El Paso Canada holds around 690,000 net acres in four core areas in the western Canadian sedimentary basin, mostly in southern and western Alberta and northeastern British Columbia, of which 630,000 is undeveloped oil and gas acreage. The acquisition also includes producing assets with a working interest production of some 80 million scfe/d.
BJ Services Co. has expanded its casing, tubing and hammer services to the Gulf of Mexico oil and gas market. The company acquired Cajun Tubular Services, Inc., of Lafayette, La., which provides tubular running, testing and torque-monitoring services to the region. BJ also acquired the assets of Petro-Drive, a division of Grant-Prideco, Inc., based in Lafayette. Petro-Drive provides hydraulic and diesel hammer services in the Gulf and international markets.
C & C Technologies, Inc., and W.L. Gore & Associates, Inc., will collaborate to provide advanced offshore geochemical survey services to the petroleum industry. The two companies have worked collectively on several successful offshore geochemical projects over the past two years. The technology has proven effective where conventional geochemical surveys have either been unsuccessful or inapplicable. The alliance enables a new “piggyback” program for affordable data acquisition. GORE customers can take advantage of C & C's worldwide fleet deployment, which will make sample collection more efficient and economical.
Expro International Group PLC has acquired the well tractoring business of Houston-based SmarTract Inc. The acquired business, to be called Expro Tractor Solutions, will provide downhole robotics and tractor services to the oil and gas industry worldwide. The SmarTract tractor is an electro-hydraulic crawler-type tractor that provides a method of deploying tools in high deviation and horizontal wells on wireline, providing an alternative to drill pipe and coiled tubing. Its ability to apply force either up or down in the wellbore also makes it suitable for manipulating tubing-mounted equipment such as plugs and sliding sleeves.
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