Companies in the news

Kerr-McGee Corp.’s board of directors approved the plan to develop Leadon field in the UK sector of the North Sea. The newest discoveries in Birse and Glassel fields are about 5 miles away. Estimated reserves in the area are 170 million boe. The fields will be developed using subsea horizontal wells tied back to an FPSO. Initial production is slated for early 2002, with peak production of 50,000 bopd by year-end 2002. Meanwhile, China National Petroleum Corp. awarded Block 09/18 in China’s Bohai Bay, including more than 550,000 acres, south Block 04/36 and 05/36, which Kerr-McGee operates.

Global Industries, Ltd., and Oceaneering International, Inc., agreed to exchange certain properties and share facilities in Asia and Australia. Under the agreement, Global will transfer its remotely operated vehicles (ROVs), including its Triton XL-11 and related equipment in the area to Oceaneering in exchange for diving assets and related equipment, including its dive support vessel Ocean Winsertor.

In the finalized agreement, EOG Resources Inc. will develop Abraxas Petroleum Corp.’s Montoya play in West Texas.

Following the acquisition by Bowridge, Computest Gas Testing Ltd. now operates as a subsidiary of Central Production Testing Ltd.

TGS-NOPEC Geophysical Co. began a new, 5,903-mi, non-exclusive 2-D program, offshore Liberia. Combined with its recent project in Sierra Leone, the surveys will cover the entire Liberian geologic basin, in preparation for the bid round in mid-2001.

CiDRA Corp. agreed to provide BP with specialized consulting services to integrate fiber optics into deep water and other developments, develop new fiber optic products, enhance capabilities of existing technologies and integrate multiple optical technologies for specific applications.

Weatherford International completed its acquisition of Alpine Oil Services Corp.

Wood Group Petroleum Services acquired Allied Wireline Services and C & D Wireline Services Inc., forming Wood Group Wireline Services.

Global Energy Holdings signed a technical cooperation agreement with the South African Agency for Promotion of Petroleum Exploration and Exploitation Ltd. to explore the 7,160,777-acre Block 3B/4B, offshore northwest South Africa.

Expro International Group opened a new workshop facility in Bergen, Norway, to service clients in the Norwegian sector of the North Sea.

Madison Filter Group Ltd. agreed to acquire Southwestern Wire Cloth.

Cohere Networks, Inc., formed a new division to address the upstream petroleum industry’s need to store and manage dense files and applications. Meanwhile, Cohere Networks and Continuum Resources signed an MOU to collaborate on joint marketing and technology opportunities.