Companies in the news

TGS-NOPEC Geophysical began a new, non-exclusive 1,554-mi, 2-D program, offshore Sierre Leone, in preparation for a bid round set for 2001.

McMoRan sold its 30% interest in Vermillion Block 408 to The Exploration Co. (16.8%) and Samedan Oil (13.2%).

Tanganyika Oil Co. completed a 3-D seismic acquisition program over its West Gharib Block, Gulf of Suez basin, Egypt. A multi-well exploration program is slated for 2001 to evaluate the large drilling prospects validated by this program.

Weatherford International, Inc., acquired Starfield Multilateral Well Completion technology from Starfield Holdings, Inc. Meanwhile, Weatherford’s completions systems division installed and expanded the longest open-hole horizontal-expandable sand screen for BP in its Foinaven A field in Faroe-Shetland basin, 120 mi West of Shetland. In a separate transaction, the firm signed a definitive agreement to acquire a 48% interest in Universal Compression, Inc.

Abraxas Petroleum Corp. subsidiary Grey Wolf swapped assets and cash for gas producing properties and undeveloped land in the Sundre, Alberta, area. This brings Abraxas and Grey Wolf’s working interest to 100% in the gas plant, gathering system, 25 producing wells, 45,000 gross acres and over 30 workover and development locations.

Hallwood Energy Corp. acquired interests in 34 producing wells, five service wells and 69 inactive wells in five Texas and Louisiana fields.

Delta Petroleum Corp. completed its acquisition of Eland and Stadium field producing wells in Stark County, North Dakota.

Alberta Energy subsidiary AEC Oil & Gas (USA) Inc. purchased interests in Anadarko’s Alaskan foothills acreage. Meanwhile, Anadarko increased its acreage in two exploration licenses in Canada’s Northwest Territories’ MacKenzie Delta basin with a 37.5% working interest in over 3.1 million acres.

Woodside Energy’s Echo / Yodel development project offshore Australia includes two subsea wells, provided by FMC Southeast Asia Pte., in 459 ft of water.

Baker Hughes and Schlumberger formed a seismic joint venture, named Western GECO, owned 30% by Baker Hughes and 70% by Schlumberger.

Canadian Occidental Petroleum was awarded the 90,000-acre El Descanso Block in Colombia’s Upper Magdalena basin. Meanwhile, its Colombian subsidiary signed two new contracts with state oil company Ecopetrol to explore more than 250,000 acres in Fusa and about 269,000 acres in Villarica.

Toreador Resources Corp. completed its acquisition of Texona Petroleum Corp.

CRP acquired Emerson & Cuming Composite Materials.

Integriti Solutions Ltd. acquired Houston Corrosion Consultancy.

Grant Geophysical, Inc., formed a new operating group to target the expansion of its worldwide transition-zone business.

BP’s development plans in Colombia’s Casanare area progress with a fourth rig from Parker Drilling Co. to be added by year-end.

Wellogix, Inc., the recently formed combination of WellBid, Inc. and eNersection, closed financing with The Beacon Group Energy Investment Fund, AC Ventures, Battery Ventures, Burlington Resources, SCF Partners, TechQuest Capital Partners and Weatherford International.

Clearwater, Inc., completed its first full year of manufacturing and providing bulk storage and delivery of potassium formate brines.

Paradigm Geophysical formed a strategic alliance with Sysdrill, Ltd., including the framework for acquiring a controlling interest in Sysdrill’s operations.

Enterprise Products Partners L.P. formed an operating partnership to purchase Acadian Gas LLC from Coral Energy LLC, an affiliate of Shell Oil Co.

CXY Energy and partners were high bidders on 21 deepwater blocks in the Western Gulf of Mexico Sale 177. The firm bid $13.2 million for an average 45% working interest in the 21 blocks.