Vol. 220 No. 6
Indias state-controlled Indian Oil Corp. and
Oil and Natural Gas Corp. formed an alliance, becoming
one national oil entity. The alliance will operate through project-wise joint ventures
constituted as non-government companies.
Weatherford International, Inc., acquired Austoil
Technology Ltd. Meanwhile, Weatherford also acquired ECD
Northwest from Clearwater, Inc. ECD
provides underbalanced drilling services with a full range of compressible fluid drilling
systems, which will complement Weatherfords rotating blowout preventers and high
temperature motor technologies.
LASMO plc agreed to sell a package of southern North
Sea gas assets to GDF Britain Ltd., a wholly-owned
subsidiary of Gaz de France. Assets include LASMOs
entire interest in the Caister, Boulton, Hunter, Chiswick and Cavendish fields, the CMS and
ETS pipeline systems and associated exploration and appraisal acreage.
Bouygues Offshore signed a letter of intent with
Kvaerner to acquire 100% of Kvaerner
(France) SA, including the company previously known as Sofresid.
Chevron discontinued its talks with ARCO
regarding merging the two companies E&P operations in West Texas and New Mexico.
Three new 3-D surveys of the White Rose area of Canadas Grand Banks to be run by
CGG Geophysics Canada will focus on merging the
surveys as well as improving earlier seismic processing flows.
Ocean Energy, Inc., finalized the sale of its
Canadian subsidiary to Quintana Minerals Canada Corp.
of Houston, Texas.
Nabors Industries completed its acquisition of Bayard
Drilling Technologies and merged it into a special purpose subsidiary of Nabors.
Bayards fleet consists of 87 land rigs, of which 14 are available for refurbishment
and 73 are actively marketed.
Castle Energy Corp. agreed to acquire AmBrit
Energy Corp. oil and gas properties. Included are producing properties in
Alabama, Louisiana, Mississippi, Montana, New Mexico, Oklahoma and Texas and unexplored
acreage in several of these states. Estimated proved reserves are about 27.5 Bcfge.
The newly-created Veritas Exploration Services
division will be responsible for advanced, integrated seismic data interpretation and
analysis, including a new reservoir characterization group.
M-I L.L.C. completed construction of a liquid mud
facility at the C-Port One in Port Fourchon, Louisiana.
Swaco formed an alliance with SCC
Environmental Group Inc. of St. Johns Newfoundland, Canada, to provide drilling
waste management solutions.
Diaz Resources Ltd, Brittany Energy Inc. and Uniglobe
Ventures Ltd. agreed in principle to merge the firms. It will continue to operate
as Diaz Resources Ltd.
Stewart Tubular Products, Inc., opened a new office
and warehouse facility in Lafayette, Louisiana.
TGS-NOPEC Geophysical Co. and Geco
Prakla formed a joint venture to acquire, process, market and deliver
non-exclusive 2-D seismic surveys, offshore Brazil. The 52,819-mi, non-exclusive survey will
blanket the Santos, Campos and Espirito Santo basins.
The American Energy Group, Ltd., agreed to acquire
Maverick Drilling Co.
Schlumberger Oilfield Services formed Holditch-Reservoir
Technologies by merging S. A. Holditch &
Associates, GeoQuest Reservoir Technologies, Camco Engineering Optimization Resources
and the Schlumberger Production Enhancement Group.
McDermott International, Inc., terminated
discussions with its majority-owned subsidiary, J. Ray McDermott
S.A. citing an inability to reach an acceptable financial agreement. The firms
will continue operating under the current corporate and operational management structure.
LICENERGY opened a new office in Perth, Western
T H Hill Associates, Inc., a drilling engineering
firm, and Prentice Training Co., a drilling training
and consulting company, formed a new company, Prentice &
Hill, LLC. The new firm will provide project engineering and field technicians
with training, books and software.
Sterling Fluid Systems (USA), Inc., created the
Sterling Service Division which includes the Parts Support Group.
Rotork Controls Inc. acquired Fluid
System Srl of Italy and Valvekits Group Ltd.
UTI Energy agreed to acquire Norton
Drilling Services, Inc. Meanwhile, UTI and partner REMY
Capital agreed to purchase Fracmaster Ltd.
Synergy Oil & Gas, Inc., completed its
acquisition of certain Unocal interests in West Starks field in Calcasieu Parish, Louisiana,
and in Texas, Felicia Creek in Liberty County, and SW Rugeley field in Matagorda County,
Ganado field in Jackson County and various other non-operated properties. Total net
production to Synergys interest is about 4,200 MMcfgd and 435 bopd.
American Energy Group completed its acquisition of
12.5% to 30% working interests in the Blue Ridge and Boling oil fields, Fort Bend County,
Texas, from two of its partners. The acquisitions comprise 12 existing wells and seven
development locations, including about 189,000 bbl of reserves.
Dresser-Rand has restructured into regional units in
North America, South America, Europe, Mideast-Eurasia-North Africa and Asia-Pacific. The
company will maintain its product services and compression services organizations. Each will
be headed by an executive VP.
Calpine Corp. agreed to acquire Unocal
Corp.s 75% interest in a geothermal steam field operation at The Geysers
area of northern California for $101 million.
Keppel Corp. Ltd. and Hitachi
Zosen completed the merger of its shipyard operations and renamed the new entity
Keppel Hitachi Zosen Ltd.
Foxboro Co. agreed to acquire the SCADA business of
Nuovo Pignone S.p.A., a subsidiary of General Electric (USA).
Canadian Occidental acquired Shells working
interest in Eugene Island Block 18 field, giving CanadianOxy about a 90% working interest in
the fields reserves.
Copyright © 1999 World
1999 Gulf Publishing Company