January 1999
News & Resources

Companies in the news

January 1999 Vol. 220 No. 1  Company News  Apache Corp. agreed to acquire certain oil and gas interests in the Carnarvon basin, offshore Western Australia, from subsidiaries of Novus Petroleum Ltd. P

January 1999 Vol. 220 No. 1 
Company News 

Apache Corp. agreed to acquire certain oil and gas interests in the Carnarvon basin, offshore Western Australia, from subsidiaries of Novus Petroleum Ltd. Proved and probable reserves are about 10.7 million boe, with daily production of 2,400 boepd.

Newpark Resources, Inc. acquired the OGS Laboratory from O’Brien-Goins-Simpson & Associates Inc.

Chevron Corp. formed a new subsidiary named Chevron Environmental Management Co. to centrally manage environmental remediation activities for its U.S. operations. Meanwhile, the firm sold its mineral rights in 160,000 acres in Kern, Kings and Fresno Counties and about 50,000 acres in 17 other California counties to a subsidiary of Peter Paul Petroleum Corp.

TGS-NOPEC and Bedford Interactive Processing Services (BiPS) signed a purchase agreement to transfer 100% of BiPS shares to TGS-NOPEC.

Vista Energy Resources, Inc., signed a letter of intent to acquire interest in a group of producing oil and gas properties in several contiguous fields in the Permian basin, with current combined daily net production of about 925 bopd and 3 MMcfgd.

Daniel Measurement, a Daniel Industries subsidiary, acquired all outstanding stock of Metco Services Ltd.

Coastal Oil and Gas Corp. purchased certain upstream oil and gas assets of Conoco, Inc., in the Uintah basin of northeastern Utah and the Piceance basin of western Colorado. The acquisition includes 21 oil and gas producing fields and an estimated 312,500 acres of producing and non-producing leasehold interests, including 106,000 acres of prospective deep rights under and adjoining the Natural Buttes Federal Exploratory Unit.

Bonterra Energy Corp. entered into an agreement to acquire the oil-producing properties acquired in WestCastle Acquisition Corp.’s purchase of Optus Natural Gas Distribution Income Fund’s oil and gas producing properties.

Fugro N.V. formed a new company, Fugro GeoServices, Inc., by combining the geophysical and geosciences divisions of John E. Chance and Associates, Inc.

Santa Fe Resources signed a production-sharing contract with the China National Offshore Oil Corp. to explore Block 26/35 in the South China Sea.

Saga Petroleum ASA agreed to sell its interest in the Indonesian Jambi Merang block to YPF Indonesia Ltd. and Amerada Hess (Indonesia-Jambi Merang Ltd.)

Baker Oil Tools acquired Sonoma Corp.

Ocean Energy acquired incremental interests in North American oil and gas producing properties from John Hancock Mutual Life Insurance.

Texaco Inc. acquired a 50% interest and the operatorship of offshore Block 1 in Angola from Shell.

Institut Francais du Pétrole (IFP) acquired an 82.5% interest in RSI, based in Grenoble, France.

Elf Aquitaine signed an agreement to sell its oil and gas subsidiary in Ecuador, Elf Hydrocarbures Equateur, to Vintage Petroleum Inc.

Canyon Offshore Inc. opened a new facility in Singapore to meet the subsea construction needs of companies in the Asia-Pacific region.

McGowan Resources acquired two Texas wells in Nolan County from Chisholm Exploration Co. and K. Phil Fleetwood Oil Properties, Inc.

Keppel Fels Ltd. and Keppel Integrated Engineering Ltd. will be restructured and renamed Keppel Fels Energy and Infrastructure Ltd.

Abraxas Petroleum Corp. acquired New Cache Petroleums, Ltd., including wells producing about 28.6 MMcfgd and 1,693 bopd, proven development projects and 210,000 net acres with 2-D and 3-D seismic data in western Canada.

McMoran Sulfur, Inc. and McMoRan Oil & Gas stockholders have approved the merger between the two firms, forming McMoRan Exploration Co.

Eni, Enterprise Oil, Fina and Mobil acquired LASMO’s interests in the Tempa Rossa field in southern Italy, including stakes in the concessions of Gorgoglione and Tempa d’Emma. Eni will operate until first oil, at which time Fina will take over.

TGS-NOPEC’s newest seismic vessel, the Northern Access, acquired its first non-exclusive 2-D survey offshore Norway’s Møre Coast.

Baker Process is the name of the new operating organization formed by combining EIMCO Process Equipment Co., BIRD Machine Co. and Baker Hughes Processing Systems.

CMS Energy Corp. changed the name of its oil and gas exploration and production business to CMS Oil and Gas Co.

Production began from the western area of Bruce field on October 10. Participants in the Phase II project are BP, Elf, BHP Petroleum, Total Oil Marine and Deminex.

Information Handling Services Group Inc. acquired Integrated Exploration and Development Services Ltd.

Sonsub’s installation of a subsea completion in Amerada Hess’s Garden Banks 216 Block is slated for this month, using an ROV onboard the Diamond Offshore Ocean Rover.

Nuevo Energy Co. signed a purchase and sales agreement with an affiliate of Samson Resources for the sale of its East Texas natural gas assets.

Venture Production acquired a 55% working interest in Trinidad’s 15,000-acre offshore Brighton Marine field. Nine platforms, more than 200 wells and reserves of more than 500 million bbl of oil are included. Venture plans a phased re-development program to boost output to 15,000 bopd.

Dresser-Rand Energy Systems and Kvaerner Process Systems formed Multiphase Power and Processing Technologies L.L.C. to develop and market proprietary expanders and other equipment to separate gas and liquids and generate power from previously wasted energy during oil production.

Schlumberger and Smith International formed a drilling fluids joint venture which will continue to operate as M-I. Smith will contribute its M-I L.L.C. fluids business, including M-I Swaco, and Schlumberger will contribute its drilling fluids business.

Sempra Energy and Comfort Systems USA formed an alliance to market a full range of energy solutions.

Vista Resources Partners and Midland Resources completed the merger between the two companies.

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