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Vol. 224 No. 1 |
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 brings all of the Technip-Coflexip companies in line with corporate branding. The new name, will be applied to the firm’s Aberdeen and London offices, and its rigid pipe spoolbase in Evanton, Scotland.
Wireline Engineering moved into its new 11,000-ft2 office in Blackburn. The new space offers 3,000 ft2 of office space and a new workshop and testing capability. Capacity has been increased with the addition of two more CNC machines.
Vision Technologies Systems, Inc. completed its asset purchase of Halter Marine through its subsidiary, VT Halter Marine, Inc. The new name of the firm is VT Halter Marine, Inc.
A2D received the Best Database / Data Management Solution at the World Oil Next Generation inaugural program.
Centurion Energy International Inc. reached an agreement with the Egyptian government to sell 35 MMcfgd from its El Manzala gas fields in the Nile Delta region of Egypt. The agreement provides a price of $2.65/MMbtu until full cost recovery and then $2.50/MMbtu thereafter if the price of Boet crude is $20 or higher. If it is less than $20, the gas price is reduced on a sliding scale to a floor price of $1.50/MMbtu at a Brent floor price of $10/bbl. Additional gas sales allows Centurion to initiate steps toward the construction of a new pipeline tying the southern area of the El Manzala to the Egyptian gas grid.
Ovation Data Services, Inc. intends to purchase a majority interest in DPTS Ltd. of Orpington, Kent, UK. Ovation's London-based Data Storage Group will remain separate from the transaction and continue to operate from offices in Ealing, London. Following final approval, Ovation's UK tape operations will be moved to the DPTS Orpington service center, which becomes headquarters for EAME and Asian operations.
Veritas DGC acquired the geophysical software and services business of Calgary-based, Hampson-Russell Software Services Ltd.
FMC Energy Systems has signed a cooperation agreement with Halliburton AS to provide a full range of light and medium-range intervention services from floating vessels covering the Norwegian Continental Shelf and may be extended to other territories.
Wintershall Nederland B.V. completed its takeover of Clyde Netherlands B.V., previously owned by ConocoPhillips.
Grant Prideco signed a definitive agreement to acquire Reed-Hycalog from Schlumburger for $255 million cash, 9,731,834 shares of Grant Prideco common stock and the assumption of about $5 million in liabilities, or a total of about $350 million.
OMV was awarded a new exploration license for the Nawabshah Block in Pakistan's Sindh province.
Cal Dive International formed a new wholly-owned subsidiary, Well Ops, Inc. to provide offshore operators cost-effective subsea well operations.
Oranje-Nassau (UK) agreed to purchase Agip's interests in three producing oil fields in UK's North Sea. The acquisition includes a 20% interest in Cook, an 18.2% interest in Janice and a 3.7% interest in Pierce fields.
Devon Energy Corp. completed the sale of its Argentine oil and gas operations for a sale price of $90 million to Petrobrás.
M-I acquired UK-based CleanCut Technologies and its patented offshore waste collection and transportation system.
Lafayette-based Stabil Drill established a fully operational European hub in Aberdeen, Scotland. The new facility has offices and comprehensive rental and manufacturing capabilities.
McMoRan Exploration Co. and K1 Ventures formed a joint venture, K-McEnergy Ventures to acquire energy related businesses. McMoRan will manage the new joint venture.
EOG Resources purchased 11.5 million shares of its common stock previously held by Enron through an independent broker. The manner of sale restrictions provides that the remaining 10.5 million shares are to be sold in block sales with no single purchaser acquiring more than 2,903,069 shares of EOG common stock.
Unocal agreed with Pure Resources' senior management for their support of Unocal's pending exchange offer for the shares of Pure common stock not currently owned by Unocal. In accordance with this agreement, Unocal's subsidiary is increasing the exchange ratio of the exchange offer to 0.74 shares of Unocal stock for each share of Pure's common stock.
Nexant was named 2002 British International Expertise Award winner.
Odegaard, a Danish oil technology company, opened its first North American office in Houston to meet increased demand for its reservoir characterization services. 
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