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Vol. 229 No. 8 |
Oilfield service company Expro agreed to acquire the oil and gas metering business of CiDRA Corp., based in Connecticut. The acquisition, for about $60.5 million in cash, will form the basis for a new business called Expro Meters. The company will develop, manufacture and sell a range of flow meters for the oil and gas market, in addition to providing production testing services on a rental basis.
Halliburton has acquired all the intellectual property and assets of Protech Centerform in Houston, Texas, Ravenna, Italy, and Aberdeen, Scotland. Protech Centerform is the world’s only provider of casing centralization that uses a carbon fiber and ceramic composite compound applied directly to the casing. Halliburton also announced that it has acquired the remaining 49% equity of Shell Technology Ventures Fund 1 BV in WellDynamics BV, giving Halliburton 100% ownership of WellDynamics. Founded in 2001, WellDynamics is the leading provider of intelligent well completion technology.
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Superior Energy Services’ Marine Services Division christened its new 175-ft class liftboat, the Superior Future, at Marine Industrial Fabrication in New Iberia, La. The vessel features a 100-ton, 100-ft boom crane and a larger working deck and deckload. The company owns and operates a fleet of 29 rental liftboats ranging from 145 ft to 250 ft in leg length and capable of working in water depths up to 180 ft. Two 265-ft liftboats will join the company fleet by early 2009.
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Halliburton reportedly has ended talks to buy Expro after that company decided to accept a £1.8 billion ($3.5 billion) bid from a private equity firm and an investment bank. The offer from Candover and Goldman Sachs was for 1,615 pence per share (about $32.10), but Halliburton raised its cash offer to 1,625 pence per share, if Expro would agree to convene a shareholders’ meeting to consider the offers. Expro spokesmen said the offer was not sufficiently higher to open up an auction.
Petris announced the addition of seven new customers to its PetrisWINDS Operations Center’s customer base over the last 12 months. The operations center, acquired by Petris in July 2007, is used by nearly 50 US oil and gas companies to manage the gathering and reporting of drilling, workover and producing operations.
GE Energy’s Oilfield Technology business will relocate its Canadian operations from the existing Calgary site to an expanded 36,000-sq-ft facility in Calgary. The operation center will be co-located in the facility with the company’s Transmission and Distribution business, and will provide design and manufacturing, machining services, materials and parts warehousing and a customer service support section.
Spectraseis, a provider of low-frequency geophysical solutions to the upstream oil and gas industry, will extend its technical collaboration with StatoilHydro in the emerging field of low-frequency (LF) passive seismic technology. StatoilHydro has interest in joining the newly formed Joint Industry Project established by Spectraseis and the Swiss Federal Institute of Technology to advance the understanding of LF seismic.
Schlumberger has acquired IES Integrated Exploration Systems, a Germany-based supplier of advanced petroleum systems modeling software and services for the E&P industry. IES specializes in the modeling of the generation, migration and entrapment of oil and gas with PetroMod software. Also, Schlumberger announced that it has acquired the business of Extreme Engineering Ltd., a Calgary-based supplier of unmanned MWD systems, from its founders and investors, which include the Shell Technology Ventures Fund 1 BV. Extreme Engineering, which will continue to operate under its own brand, has operational bases in Calgary, Alberta, Denver, Colorado and Fort Worth, Texas.
Schlumberger acquired Staag Imaging, L.P., a Houston-based provider of depth-imaging technologies for seismic data processing. It will become part of the Schlumberger WesternGeco business unit. Staag’s Full Waveform Inversion (FWI) technique is an automatic, data-driven tool that uses the two-way wave equation method to build highly accurate velocity models of the subsurface, including complex geology formations such as salt bodies.
IDM Group Ltd., a Houston-based manufacturer of integrated drilling rigs and rig systems, has acquired the business and assets of Southwest Oilfield Products Inc., a designer and manufacturer of fluid end pump products and services for the global oil and gas industry.
Simrit, a division of Freudenberg-NOK, announced the acquisition of the assets of the Tetralene Companies of Houston, a developer and manufacturer of specialized custom sealing components for the oil and gas industry. Tetralene manufactures custom high-performance thermoplastic and elastomeric components that range in diameter from 1/64 in. through 72 in.
NVIDIA Corp. and the University of Illinois at Urbana-Champaign announced that the university has been named as the world’s first CUDA Center of Excellence. In addition, NVIDIA has donated $500,000 to UIUC for the development of parallel computing facilities and the continuation of research programs. The Theoretical and Computational Biophysics Group at UIUC was one of the first research groups to leverage the parallel architecture of the GPU to accelerate its research in the field of computational biophysics.
Wellbore Energy Solutions (WES), an oilfield service company specializing in the rental of wellbore cleanup equipment, has completed its new corporate office and warehouse facility in Broussard, La. The 10,000-sq-ft facility houses operations and engineering support, including in-house bucking capabilities and an advanced inventory tracking system.
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