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Vol. 227 No. 8 |
Paradigm, a software and consulting provider to the oil and gas industry for rock and fluid interpretation, announced a definitive agreement to acquire Earth Decision, a provider of fully integrated shared-earth modeling for asset teams. Financial terms were not disclosed. Jean-Claude Dulac, founder and chief architect of Earth Decision, will remain as chief architect for Paradigm.
Aberdeen-based well and pipeline service company Qserv has acquired the Weatherford Group’s coiled tubing business. The multi-million-pound deal includes all coiled tubing, flowline and nitrogen-related assets, contracts and business in the North Sea and Europe and also ongoing work in the Ivory Coast, Equatorial Guinea, Mauritania and Yemen.
Schlumberger Information Solutions has acquired the rights to Quorum Business Solutions’ Quorum Volume Management (QVM) software. QVM is a comprehensive, field operations data management application with multiple, proven heavy oil volume management installations in North America and a large-scale brownfield installation in Asia. Under terms of the agreement, SIS acquires all rights to the software, as well as key development personnel.
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Flotation Technologies, Inc., a producer of deepwater buoyancy systems, and Lankhorst Mouldings, a supplier of polymeric pipeline ancillary systems, signed an alliance agreement to create a new joint venture LLC to offer the combined product lines in the Gulf of Mexico. The new company, Lankhorst Flotec Offshore LLC (LFO), was formed to pool the engineering, sales and product development resources of both companies. Together, they offer a complete portfolio of products and a global reach, with manufacturing in both Europe and the US. LFO will allow for the creation of unique and enhanced solutions from exploration through production, offering all ancillary products from the seabed to the surface.
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Schlumberger acquired geomechanics measurements and analysis firm TerraTek, Inc. That company, with 80 people in the Salt Lake City office, will become the Geomechanics Laboratory Center of Excellence for Schlumberger Data & Consulting Services. The center will offer rock mechanics evaluations, unconventional gas reservoir analysis, large-scale drilling and completions performance testing, and log-to-core integration.
J. Ray McDermott, S.A., a subsidiary of McDermott International Inc., has reopened its Engineering office in New Orleans, La. The return comes 294 days after Hurricane Katrina forced the evacuation of employees to temporary offices in Amelia, La., and Houston.
VSFusion announced the acquisition of Magnitude S.A.S., a provider of comprehensive microseismic monitoring services. The acquisition brings together one of the largest global groups offering borehole seismic application design, data processing, interpretation and integration with an earth science company offering advanced microseismic monitoring.
IHS Inc., a provider of integrated oil and gas information, software and consulting services, has acquired the assets of GeoPLUS Corp. of Tulsa, Okla. GeoPLUS has a PC-based software family, PETRA, used to analyze subsurface data from existing oil and gas wells.
Santos has agreed on the terms of a $474-million acquisition of Delhi Petroleum Pty Ltd to increase its stake in the Cooper basin oil and gas fields of Australia. The acquisition includes all of the equity in the Delhi Group of companies and the transfer to Santos of the associated ASX-listed Floating Interest Energy LinkeD Securities issued by the Australian Onshore Energy Fund. This will increase Santos’ interest in the Cooper basin J.V. from about 63% to 85% and add roughly 67 million boe of proven plus probable reserves.
Offshore engineering firm Acteon has acquired the flexible pipelay and retrieval specialist Aquatic Engineering and Construction Ltd. Products and services offered by Aquatic integrate well with the those offered by other Acteon companies, notably moorings specialists InterMoor, deepwater riser company 2H Offshore, and WellCut, which focuses on subsea decommissioning.
Expro International Group PLC acquired Power Well Services (PWS), a supplier of well testing and other flow management products and services for $674.5 million (£366.0 million). PWS’s operations include global well testing and regional fluids analysis, as well as choke equipment supply and related services.
Fugro GEOS has received a prestigious safety award from one of the world’s leading training and advisory bodies. Following comprehensive tests by an independent adjudicating panel, Fugro GEOS was given the International Safety Award by the British Safety Council for the third consecutive year. Only companies with below average accident rates are eligible to apply, and winners must also have good safety policies, plans and commitment to health and safety.
Weatherford International Ltd. signed a three-year technology development cooperation agreement with Statoil ASA to develop new fiber-optic-based sensing and communication systems to extend the life of oil and gas fields. This is part of the ongoing Statoil Subsea Increased Oil Recovery initiative.
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