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Vol. 224 No. 12 |
The Society of Petroleum Engineers (SPE) and the Society of Exploration Geophysicists (SEG) have formalized an agreement for intersociety cooperation to benefit their global membership through joint events, programs and services. In addition to reaching out to younger members and students, the two societies will collaborate in other ways, including publications and professional development. Under the agreement, a joint cooperation committee will be established that will include board members of each society and will be charged with developing cooperative initiatives.
Halliburton has acquired Geo-Logic Systems, LLC. Founded in 1983, Geo-Logic is a provider of advanced structural interpretation, analysis and restoration software for complex geologic environments. The company’s software validates complex geologic interpretations by determining their physical possibility using its structural restoration and balancing capabilities.
National Oilwell Varco (NOV) and Schlumberger Ltd created a joint venture to provide high-speed drillstring telemetry systems to improve the efficiency and safety of oil and gas operations. The IntelliServ joint venture is expected to accelerate development and delivery of intelligent drilling solutions through the expanded use of the Intelli-Serv Broadband Network, a technology that provides high-resolution data in real time from the bottom of oil and gas wells as they are being drilled. NOV owns 55% of the joint venture and provides manufacturing, technical and operational support, while Schlumberger owns 45% and brings evaluation and measurement expertise.
The Bayou Companies Inc. has signed an agreement with Garneau Inc. to acquire Garneau’s pipe-coating and insulation facility and associated assets in Camrose, Alberta, Canada. Bayou Perma-Pipe Canada Ltd., a joint venture between Bayou and Perma-Pipe Inc., will acquire the Garneau facility and serve as the operating company for Bayou’s Canadian operation.
Pason Systems Inc. has agreed to acquire privately held Petron Industries Inc., a designer and manufacturer of drilling rig instrumentation systems. Based in Houston, Petron offers sales and rental of drilling rig instrumentation systems for on- and offshore applications. Pason, through a wholly owned US subsidiary, will acquire a 100% interest in Petron, paid in cash.
VAM Drilling, a fully-owned subsidiary of Vallourec, has agreed to the acquisition of Dubai-based DPAL FZCO, a supplier of drill pipes, owned by Soconord Group. The DPAL FZCO manufacturing facility, located in the Jebel Ali Free Zone (Dubai, UAE), offers a large range of drill pipes to the oil drilling industry. It has an annual production capacity of 25,000 joints.
ION Geophysical Corp. and BGP Inc. have signed a term sheet to create a joint venture that will provide land seismic products worldwide. The joint venture will align ION’s land equipment business with BGP’s expertise and experience in land seismic operations. BGP will receive a 51% interest in the joint venture and about 16.66% interest in ION total cash proceeds of $175 million and also up to $40 million of bridge financing arranged by BGP.
R&M Energy Systems has opened a new rod guide operation in Roma, Queensland, Australia. The new facility provides wear-prevention solutions for both reciprocating and progressing cavity pumps. The new operation features engineered rod guide designs and plastics tailored specifically to oil and gas applications in Australia. The local manufacturing capabilities include technological advancements in injection molding equipment, and the in-plant cleaning system ensures better bonding of the rod guides to the rods for optimal performance and long life.
M-I Swaco has signed an agreement with Rice University to fund a two-year joint research program to investigate the potential uses of nanotechnology in the oilfield and drilling fluids industry. Nanotechnology is the study of matter, their properties and chemistries, on the nanoscale. Nanoparticles are about 1 nanometer (nm), or 1 billionth of a meter, in length. The company will invest $460,000 over two years. The M-I SWACO R&D group, in collaboration with a Rice team led by Professor James Tour, will work closely to investigate the use of these unique materials in drilling and completion fluids.
Houston-based Boots & Coots and Norwegian company Add Energy have entered into a cooperation agreement to market an integrated risk-management solution covering blowout prevention, mitigation, response and related services. Under the agreement, Boots & Coots and Add Energy will cooperate on well control response and blowout prevention services in Norway and on transient hydraulic simulations worldwide. Boots & Coots has over 30 years of experience in pressure control, and Add Energy has more than two decades of operational experience as a supplier of dynamic simulations and flow engineering for well control incidents and contingency planning.
Goober Drilling LLC, a land-based oil and gas drilling contractor, has changed its name to Keen Energy Services LLC. The company has 38 drilling rigs as well as trucks, cranes, loaders, dozers and other construction equipment used to transport rigs and build drilling sites.
L.B. Foster Co. of Pittsburgh, Penn., has formed a joint venture with two partners, Kentucky-based Lally Pipe & Tube and industry veteran Jim Legg to create LB Pipe & Coupling Products, LLC, to manufacture couplings and accessories for the oil country tubular goods, American Petroleum Institute and other markets. The company will occupy a manufacturing facility under construction in Magnolia, Texas.
Spectraseis, a provider of low-frequency seismic solutions to the upstream oil & gas industry, has formed a multi-year Joint Industry Project (JIP) for the research and development of low-frequency seismic technologies for hydrocarbon reservoir detection and characterization. The cooperative program is called the Low Frequency Seismic Partnership (LFSP). Confirmed participants in the LFSP, which will run for three years through 2012, are Cairn, Chevron, ExxonMobil, GDF Suez and Pemex. An Asian national oil company will join the LFSP over the coming months.
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