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Vol. 226 No. 9 |
The Andergauge Group has been acquired from Charles A. Anderson by SCF Partners (a Houston-based private equity group), management and employees of Andergauge. The firm supplies mechanical drilling tools to the global oil and gas industry, and has recently entered the intervention market with products for coiled tubing and workover applications. Andergauge is the first UK company to be acquired by SCF.
British Airways has begun new flights from London Gatwick to the Hassi Messaoud field area in Algeria. There are two flights each week, on Tuesdays and Thursdays, on a Boeing 737. The airline also flies from London Gatwick to the Algerian capital, Algiers, five times a week.
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SPS International Ltd , wellbore cleanup specialists, received the Queens Award for International Trade for overseas earnings and expansion into new international territories. From left: Glynn Williams, CEO, SPS International; Raymond Cowan, Finance Director; Angus Farquharson, Lord Leftenant for Aberdeenshire; Graeme Laws, Technical Director; and Robert Preston, VP Marketing.
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Kerr-McGee will sell its North Sea operations to the A. P. Moller-Maersk Group. The transaction is estimated at about $3 billion. As part of the agreement, the company will also sell some other North Sea operations to UK-based Centrica for about $500 million. The transaction will help Oklahoma-based Kerr-McGee buy back $4 billion of its own shares as part of a deal with financiers Carl C. Icahn and Barry Rosenstein. The company agreed previously to buy back as much as 29% of its stock if Icahn and Rosenstein would end their proxy battle to gain seats on the board.
Roxar, a technology solutions provider to the upstream industry, donated over $26 million of its IRAP RMS reservoir-modeling software for academic use at seven European Universities. Students at Heriot-Watt University in Edinburgh; the Imperial College of Science, Technology and Medicine at the University of London; the University of Manchester; Friedrich-Schiller University in Jena, Germany; Technische University in Clausthal, Germany; the University of Barcelona; and University College Dublin have access to software to build detailed reservoir models in real-time environments. IRAP RMS comprises 14 fully integrated software modules including mapping, modeling, flow simulation, well planning and workflow management tools.
WellDog, Inc., a Wyoming-based energy technology company, has been awarded the 2005 Small Business of the Year Award by the Laramie Economic Development Corp. (LEDC). LEDC, an investor-based, non-profit organization dedicated to growing jobs in the Laramie area, accepts nominees for the award from member businesses. Criteria for the award include: businesses in operations for two years or more who have made a contribution to the community, as well as those experiencing favorable improvement in number of employees, revenues and financial condition. Additionally, LEDC looks for companies who have shown advanced entrepreneurial skills through innovation.
Pride International, Inc., has agreed to sell four idle land drilling rigs from its Eastern Hemisphere Division for $25.5 million. The pending transactions are subject to closing conditions, which the company expects to complete during the third quarter of 2005. Proceeds from the transaction will be used to further reduce debt.
Halliburton’s Energy Services Group received an award of honor at the American Association of Petroleum Geologists (AAPG) conference for its contribution toward getting more students involved in the industry’s professional organizations. Since inception, Halliburton has contributed $639,000 to student memberships in AAPG, the Society of Exploration Geophysicists (SEG), and the Society of Petroleum Engineers (SPE). The company initiated the program in 2002, along with AAPG and SEG, in which it pays membership dues for college students wishing to join the organizations. The company later started a similar program with SPE.
Edgen Corp. subsidiary Edgen Canada, Inc., has acquired the common stock of Western Flow Products Inc. of Edmonton, Alberta. Western Flow is Canada’s largest stock distributor of specialty alloy pipe and components for the oil and gas industry. The operations of Western Flow will be merged into Edgen Canada, Inc. Darcy Sallis, formerly president of Western Flow, has been named Edgen Canada’s general manager.
TGS-NOPEC Geophysical Co. and partners initiated two new seismic programs offshore Russia, beginning in August. In the Sea of Okhotsk near Sakhalin Island, TGS and partner Dalmorneftegeofizika plan to acquire 8,000 km of multi-client 2-D seismic data. The program will infill the companies’ pre-existing seismic grid in the region and extend the program into the Sakhalin 6 area for the first time. In the Barents Sea, TGS and New Field Ventures Ltd will acquire 7,000 km of multi-client 2-D seismic data.
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