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Vol. 227 No. 11 |
Geophysical services provider CGG and the University of Bergen have signed a master research collaboration agreement. The agreement includes joint R&D projects, two of which are already underway, the donation of CGG's seismic processing software, Geocluster, to the university and the creation of an adjunct professorship.
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CGG has launched the Geo Challenger, the new flagship of its 13-vessel seismic fleet. The 3D/4D HR vessel was converted at a Norwegian shipyard to 12-tow-point capacity and equipped with 80 km of Sercel Sentinel solid streamers. It is the first seismic vessel in the world to operate with this technology.
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Enventure Global Technology acquired Triad Pipe & Steel Company, a leading supplier of specialty oil country tubular goods and provider of outsourced supply chain services. The Triad acquisition will provide Enventure customers worldwide greater access to specialty pipe. Enventure, the leading provider of solid expandable tubular solutions for the energy industry, is owned by Shell Technology Ventures and Halliburton Energy Services. Both Enventure and Triad are based in Houston. Stoneworth Financial provided advice to Enventure on the transaction.
Superior Energy Services will acquire Columbus, Miss.-based Warrior Energy Services Corp. for about $175 million in cash and 3.5 million shares of common stock. Warrior Energy Services is a natural gas and oil well services company that provides wireline and well intervention services to exploration and production companies. The company has 25 operating bases in 10 states, and also operates two manufacturing and repair facilities in Mississippi and Texas.
Independent drill bit company Varel International has opened a new regional office for the Mid-Continent area of the US in Oklahoma City. The office will serve oil and gas customers operating in Oklahoma, Kansas, Colorado, Wyoming and Montana.
Cameron has formed a joint venture with the Curtiss-Wright Flow Control Corp.'s Electro-Mechanical Division to supply subsea multiphase pumping systems. It will operate as Cameron/ Curtiss-Wright EMD LLC and combine the subsea production systems integration experience of Cameron with the motor and pumping system expertise of Curtiss-Wright.
WellDog, Inc., a Laramie, Wyoming-based energy technology company, has entered into an agreement with Goolsby, Finley and Associates to purchase that firm's Wyoming well database. The database includes over 105,000 coal tops from more than 20,000 coalbed methane wells with correlated coal seams throughout the Powder River basin.
Schlumberger has opened the newly expanded Schlumberger Singapore Artificial Lift Product Center at Benoi Crescent in Jurong. The facility, which manufactures, services and repairs electric submersible pumping (ESP) systems for the oil and gas industry worldwide, was expanded by almost 50%.
Sondex plc, a supplier of downhole technology to the oil and gas industry, has acquired Houston-based Ultima Labs Inc. for an initial consideration of $1.65 million and further contingent payments of up to $7.35 million, based on future performance. Ultima Labs has a wide range of IP and products related to logging while drilling (LWD) and wireline applications.
Anadarko Petroleum Corp. has agreed to sell its wholly owned subsidiary, Anadarko Canada Corp. (ACC), to Canadian Natural Resources Ltd. for US$4.24 billion. Anadarko's interests in the Mackenzie Delta and other Canadian arctic frontier properties are excluded from this sale. ACC produces about 340 MMcfd, equivalent, 85% of which is natural gas. At year-end 2005, ACC had proved reserves of about 262 million boe, 75% of which were proved and developed.
IPSCO Inc. will acquire NS Group Inc., a manufacturer of seamless and welded oilfield tubular goods. NS Group had sales of $677 million for the 12 months ending June 30, 2006. IPSCO will acquire all outstanding shares of NS Group for $66.00 per share in cash, or about $1.46 billion.
Ashmore Energy International LTD (AEI) has acquired Prisma Energy International Inc., a wholly-owned subsidiary of Enron, for about $2.9 billion, which includes about $800 million in cash dividends received earlier in 2006 by Enron from Prisma Energy. AEI manages interests in a group of 20 energy assets located in 12 countries, with more than $2 billion in revenue and 7,000 employees.
Nabors Industries Ltd. will acquire the Moncla Companies for an undisclosed price. Principal assets are 56 workover and well-servicing rigs, 13 truck-mounted swabbing and testing units, rental equipment, various auxiliary equipment and real estate. The land rig fleet is composed of 49 heavy workover rigs, while the offshore fleet consists of seven barge workover rigs.
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