January 2014
News & Resources

Companies in the news

Companies in the news
Melanie Cruthirds / World Oil


GE has selected a site in downtown Oklahoma City for the company’s first-ever Global Research Center dedicated to oil and gas technology. The center will focus on accelerating mid-to-later-stage oil and gas technologies developed in GE’s Global Research labs, including production systems, well construction, water use optimization, CO₂ solutions and energy systems. Construction on the 95,000-sq-ft facility will begin in the spring of 2014, with expected completion in 2015.

Baker Hughes and DuPont Chemical Solutions have formed a strategic arrangement, aimed at bringing a more sustainable water treatment technology to the oil and gas industry. Baker Hughes will use the chemical compounds and generators from DuPont, as well as their expertise in the application of chlorine dioxide (ClO₂), in conjunction with Baker Hughes’ H2prO water management service to augment its Pressure Pumping operations. In addition to providing ClO₂ to treat water, DuPont also provides custom-engineered generators that can be fitted to Baker Hughes’ treatment trailers.

Pioneer Natural Resources Company said that severe winter weather in Texas has significantly impacted the firm’s operations in the Spraberry/Wolfcamp, Eagle Ford shale and Barnett shale combo plays during late November. The Spraberry/Wolfcamp area was especially hard-hit, as heavy icing and low temperatures resulted in power outages, facilities freeze-ups, trucking curtailments and limited access to facilities. This unforeseen severe weather event was not accounted for in Pioneer’s production and financial guidance for fourth-quarter 2013.

Aker Solutions will sell its well-intervention services business area to EQT, a Swedish private equity fund, for an enterprise value of $658 million. The agreement includes an earn-out provision, where Aker Solutions will receive 25% of any internal rate-of-return exceeding 12% per year on EQT’s equity investment. The business provides services that optimize flows from oil reservoirs.

ConocoPhillips has completed its transaction with Pertamina for the sale of its Algerian business unit for a total price of $1.75 billion, which resulted in proceeds of $1.65 billion, including customary adjustments. The company’s divestiture proceeds from 2012 through third-quarter 2013, plus this sale and the recently completed Kashagan sale, have totaled approximately $12.4 billion.

K&B Machine Works has introduced a new corporate identity, including a new name, effective Jan. 1: K&B Industries. The company is opening a new 200,000-sq-ft corporate headquarters and manufacturing facility in Houma, La., in summer 2014. K&B’s Houston facility will expand to include a large OD threading line, while the group will expand its customer inventory services division to Houston.

OneSubsea has been awarded a pump systems contract for Total’s Moho Phase 1bis development offshore Congo.  The scope of supply includes a multi-phase pump station, with two 3.5-MW high-boost pumps, a power-and-control module, a power and control umbilical, and PhaseWatcher subsea multiphase flowmeters with Vx technology for pump control. Offshore Congo, the field covers water depths ranging from 1,969 to 2,625 ft. Manufacturing and testing will take place at OneSubsea’s Horsøy facility in Norway.

Teledyne Oil & Gas, a business unit of Teledyne Technologies, recently opened its new 52,000-sq-ft Technology Development Center in Daytona Beach, Fla. The center is a high-tech research and new product development facility, to bring forward engineered solutions to technical challenges, primarily for the offshore oil and gas E&P industries. The new building complements the existing 100,000-sq-ft unit headquarters and manufacturing plant on the same campus.

The recently-opened Aramco Research Center in Cambridge, Mass., is the first of three U.S.-based R&D centers aimed at expanding the global research network and capability of Saudi Aramco. The new center is owned and operated by Saudi Aramco’s U.S.-based subsidiary, Aramco Services Company (ASC).  It is part of Saudi Aramco’s broader strategic upstream and downstream R&D program, and will be joined by new research centers in Detroit and Houston, both of which will open formally next year, in addition to locations in Europe and Asia.

The American Association of Professional Landmen (AAPL)—a rapidly-growing association with more than 16,000 members across the U.S. and in Canada—has been named The Energy Advocates Association of the Year. AAPL was recognized for its outstanding leadership and service within the American energy industry. This includes the nationwide rollout of a new member brand and a public awareness campaign throughout the Eagle Ford shale, which AAPL launched to encourage landowners to work only with landmen who are members of the association.

Fugro Voyager, a purpose-built DP2 geotechnical drilling vessel, is entering service with Fugro’s Offshore Geotechnical Division to expand its operations in the frontier areas of the Asia-Pacific region. This month, Fugro Voyager is departing for her maiden contract off the northwestern coast of Australia, where she will undertake work to aid foundation design for seabed infrastructure.

After signing a five-year charter agreement in 2011 with CGG for a series of six new seismic support vessels, BOURBON now has two vessels, the Bourbon Petrel and Bourbon Fulmar,  in service, and a third vessel, Bourbon Gannet, will be operational in the near future. The Grandweld shipyard in Dubai is building the vessels, and delivery of the remaining sister ships is scheduled for 2014. The Bourbon Petrel has been supporting the CGG Symphony seismic vessel in the Black Sea since July 2013. The Bourbon Fulmar is assisting the Viking Vanquish, a seismic vessel operating in northern Europe.

McDermott International, Inc. said that one of its subsidiaries has entered into an agreement with Petrobras for a short-term charter to supply its subsea construction vessel North Ocean 102 (NO102). The NO102 will carry out deepwater umbilical and flexible pipe installation offshore Brazil, and is expected to begin work during third-quarter 2014.

Enteq Upstream PLC, a provider of systems and components for measurement-while-drilling (MWD) and directional drilling, has formed the Enteq Drilling division to integrate the technology and services of Extended Exploration Technology (XXT) and KM Services (KMS). Both companies were acquired by Enteq in 2012.

FlexSteel Pipeline Technologies has opened a new service center in Pleasanton, Texas, which will provide local support to its clients throughout the Eagle Ford shale. On more than two acres of land, the 6,000-sq-ft facility will house technical and field services staff, along with an inventory of product and installation equipment.

Clean Harbors has recently opened its sixth open lodge in the Fort McMurray oil sands, called Ruth Lake Lodge. Clean Harbors designed an interactive 604-room facility enabling companies to provide their employees with a comfortable social, recreational and interactive environment. The facility is 26 km north of Fort McMurray, between the Suncor and Syncrude oil sands facilities.

Select Energy Services has announced that all Select-owned companies will undergo a name change, and will now operate under the Select Energy Services brand. Following the company’s launch in 2008, Select grew both organically and through acquisition. Since its inception, Select has acquired or invested in 34 companies and technologies; many retained the name under which they were acquired.

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Melanie Cruthirds
World Oil
Melanie Cruthirds melanie.cruthirds@worldoil.com
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