December 2007
News & Resources

Companies in the news

Acquisitions, mergers, ventures and other company news

Vol. 228 No. 12

Schlumberger has acquired exclusive development and distribution rights to the oil and gas sector for ThinAnywhere, a remote-access 3D graphics visualization technology, from Mercury International Technology, Inc. The agreement gives Schlumberger the exclusive right to develop new applications based on the technology for the oil and gas sector. Schlumberger will use this technology in its LiveQuest solution, providing 3D thin client access and enabling centralized application support capabilities.

InterMoor Inc., an Acteon company, has received its ISO 9001:2000 certification for its three facilities in Amelia and Fourchon, Louisiana, and Houston, Texas. This certifies the company to perform engineering, design, fabrication, installation and servicing of mooring equipment and subsea structures.

Weatherford International Ltd. has acquired Rotary Laboratories, Inc., a specialist in the full-diameter and sponge core analysis sector of the oil and gas industry. Rotary Lab is a privately owned service company based in Midland, Texas.

IHS Inc. has acquired the assets of Exploration Data Services of the Gulf Coast (EDS) and its subsidiary, Geodigit, LLC, which collectively maintain and market extensive geological data covering the subsurface Gulf of Mexico. The assets include EDS’s catalog of interpreted formation tops on more than 25,000 offshore wells, and Geodigit’s MMS offshore well data, base maps and other well header data. Terms of the purchase are $6.25 million in cash.

Marathon Oil Corp. completed its acquisition of Western Oil Sands Inc., through a cash and securities transaction of about US$5.8 billion, plus Western’s outstanding debt valued at around US$1.1 billion, for a total transaction value of US$6.9 billion. Marathon, based in Houston, Texas, has principal operations in the US, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the UK.

Socotherm has inaugurated a new “Marine Base” in Modica-Pozzallo, Sicily. The Pozzallo port is an important oil and gas junction in Sicily, in the center of Mediterranean area, and the new pipe-coating plants will serve future projects in the area. It includes a covered area of about 12,000 sq m, where internal and external anticorrosion/thermal insulation coating plants have been erected to serve the deepwater market. The 128,000-sq-m outdoor area will allow storage of bare and coated pipes.

Mountains West Exploration, Inc., signed a letter of intent to acquire Net Direct Systems (NDS), a global IT systems integrator. With nine years of experience and deep expertise developing data center, network and security solutions on a variety of platforms and devices, NDS has developed comprehensive enterprise systems. Strategic partnerships have included HP, Riverbed and Secure Computing.

Stabil Drill, a Superior Energy Services company acquired Donnie Williams Tool Co. and J&S Hole Opener Rentals. Headquartered in Youngsville, Louisiana, the two companies specialize in drilling tools engineered for the oil and gas industry both onshore and offshore. They have operations along the Gulf Coast, with locations in Lafayette, Louisiana, and Houston, Texas.

Shell Technology Ventures Fund 1 B.V. has agreed to sell a minority interest in @Balance B.V. (At Balance) to Smith International, Inc. The transaction will give At Balance access to Smith pressure equipment and services. At Balance is a technology-based provider of MPD services offering automated pressure-control systems.

Global Resources Group, based in Aberdeen, Scotland, and CRC-Evans Automatic Welding, based in Houston, Texas, have joined forces to create a new company for turnkey operation of spool bases, specialist welding manpower services, spool piece fabrication and associated work. The new firm, Global Pipelines, also provides specialized personnel for pipe welding.

GE Energy has completed the acquisition of Sondex plc. Headquartered in Hampshire, UK, Sondex specializes in the engineering and manufacture of directional drilling and formation evaluation systems and wireline tools for oil and gas production. The acquisition will expand GE’s portfolio of detectors for use in high temperature and shock environments

Mustang Engineering, a subsidiary of John Wood Group PLC, will provide detailed engineering and procurement support for the topsides production facilities on ATP Oil & Gas Corp.’s first newbuild deepwater facility, the Telemark Hub floating drilling/production facility. The facility will be located in 4,000 ft of water at Block MC-941, offshore Louisiana, Gulf of Mexico. Designed for 25,000 bpd oil and 50 MMcfd gas, the unit will have expansion capability to 100 MMcfd gas. It will incorporate six dry-tree wellheads with three pairs of future subsea flowlines.

Schlumberger has executed a joint venture agreement with High Arctic Energy Services Inc. to provide underbalanced drilling and managed pressure drilling services to the worldwide upstream oil and gas industry. Initially, the joint venture, owned 51% by High Arctic and 49% by Schlumberger, will focus on providing services for projects managed by Schlumberger Integrated Project Management.

Bainbridge Oil & Gas and Bainbridge Resources recently opened offices in Houston, Texas. Bainbridge Oil & Gas is an investment vehicle to exploit opportunities in the oil and gas industry via a portfolio of funds, and Bainbridge Resources serves as its operating company. Both were developed by former executives of Santos Ltd., an Australian oil and gas E&P company, and Bainbridge Capital Advisory’s Energy group.

CGGVeritas has increased the number of dedicated processing and imaging centers that it operates for major oil companies with the launch of a center for Repsol YPF in Madrid, Spain. It joins 11 other centers in the company’s worldwide processing network. The center will provide 2D and 3D, time and depth, land and marine, processing and imaging services.


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