Companies in the news

Vol. 223 No. 12

Eastman Kodak Co. Commercial and Government Systems signed an agreement with Boston-based Syncline to become a value-added reseller of Kodak Citipix aerial imagery. Syncline offers a full range of web-based GIS mapping solutions for business and government organizations.

OMV acquired 25.1% of the Rompetrol Group, a large private oil operator in Romania.

Canadian Superior Energy Inc. of Calgary, Canada, commenced a major drilling program targeting natural gas in several newly established areas of north-west and west central Alberta and north-east British Columbia. Drilling commenced on a multi-well program which entails the drilling of about 25 company-operated wells (average working interest 90%) in several newly established high-impact areas, including the Ladyfern, Chinchaga and Pine Creek areas of Alberta. Further drilling in Alberta will also take place in the Giroux Lake, Windfall, Boundary Lake and Bison Lake areas. In northeast British Columbia, high impact exploration is also planned for the Umbach, Altares and Parkland areas, where it has acquired extensive acreage over the last several months. The multi-well drilling program is part of a focused E&D program.

Perenco acquired CMS Oil & Gas (Venezuela) LDC, which owned 43.75% interest in the Colon Operating Services Agreement (OSA) in western Venezuela. The acquisition brings Perenco's net production in the Colon field to 6500 bopd. Perenco already owns and operates 100% interest in the Pedernales field in the Orinoco River delta and 90% interest in the Ambrosio field on Lake Maracaibo, both under OSAs with PDVSA. In 2002, Perenco completed a successful program of three new wells on Pedernales, involving a total investment of about $15 million.

Cummins, Inc. and Rotary Gas Systems, Inc. started the first production prototype of Cummins new natural gas-powered industrial engine designed expressly for the gas compression marketplace. Initially introduced in Calgary on June 11, it was fired-up on a compression package designed and built by Rotary Gas Systems, Inc. After start-up, the unit will be placed in service on location in the San Juan basin near Farmington, New Mexico.

Schlumberger Oilfield Services opened its first collaborative virtual-reality center in Abu Dhabi. Named the Oasis iCenter, it provides a secure networked facility for technical experts and asset team members to work together in a collaborative environment. It will maximize the use of real-time information to expedite and enhance decision-making and planning processes.

CanArgo revised its joint investment agreement (JIPA) with Ukrnafta, the Ukrainian state oil company and with Gals-K Ltd., a local Ukrainian oil and gas company, on the terms of its farm-in to the JIPA for the Bugruvativske field in Ukraine. Gals-K will invest about $3 million in the field over the course of the next year to drill two new wells. CanArgo can match up to the amount invested by Gals-K prior to Dec. 31, 2003.

Shiningbank Energy Income Fund entered into agreements to acquire additional long-life gas reserves in three areas, complementary to existing operations in Whitecourt, McLeod and Caroline operations in west-central Alberta for over $21.3 million. Current production stands at 820 boed.

Oil States acquired Applied Hydraulic Systems, Inc., an offshore crane manufacturer and services company for about $27 million.

BP and its partners in Indonesia's Tangguh natural gas project agreed to supply LNG to China's Fujia LNG terminal. BP is now in all three legs of China's LNG strategy.

General Marine Leasing is seeking opportunities overseas in areas such as Indonesia, Malaysia, Brazil, Azerbaijan, Vietnam and other countries for its portable buildings.

Tusk Energy continues its growth in production during the third quarter. Drilling included participation in nine wells, which resulted in two gas wells, three oil wells, one service well and two dry holes.

Avalon Sciences Ltd. has moved its headquarters to its new purpose-built headquarters in Somerton, Somerset, UK.

Canoro Resources Ltd. reports unanimous approval of its consolidation of 65% working interest and its appointment as operator of Block AA-ON/7 located in Assam State, India. Completion is waiting on India's government for final approval and processing.

eProduction Solutions acquired the assets of Muse Measurements Corp. Muse will operate as a separate division of eP from the facility in San Dimas, California.

Black Hills Corp. agreed to acquire Denver, Colorado-based Mallon Resources Corp. Total cost for the transaction is estimated at $52 million.

Samson Investment Co. purchased natural gas properties in Sweetwater County, Wyoming, from Enervest Energy for $40 million. In addition to existing production, the properties contain numerous drilling locations on 55,535 acres.

Global Pressure Control, Inc. was formed by six executives from Cudd Pressure Control. The new firm will provide a full scope of services through three divisions: Global Well Control, well control, firefighting and blowout control services; Global Special Services, snubbing, hot tapping / valve drilling and freeze services; and Global Technical Services, consulting, engineering and project management services.

Coflexip Stena Offshore Ltd, changed its name to Technip Offshore UK Ltd. The name change to bring all of the Technip-Coflexip companies in line with corporate branding. The new name, Technip Offshore UK, will be applied to the firm’s Aberdeen and London offices, and its rigid pipe spoolbase in Evanton, Scotland.