November 2001
News & Resources

Companies in the news

Nov. 2001 Vol. 222 No. 11  Company News  Sasol signed regulatory agreements with the Minerals and Energy Minister and Trade Minister of South Africa on the Moza

Nov. 2001 Vol. 222 No. 11 
Company News 

Sasol signed regulatory agreements with the Minerals and Energy Minister and Trade Minister of South Africa on the Mozambique to South Africa natural gas project and pipeline. Sasol’s board has approved funds for the development of Temane and Pande gas fields with a gas transmission pipeline between Mozambique and South Africa.

Hydralift agreed to purchase 32.35% of the shares in the Dutch company SAS Gouda BV with the option of purchasing the remaining shares over the next two years. This acquisition follows Hydralift’s strategy to focus on the subsea pipelaying market.

Mitsui Babcock and MacGregor Energy Services formed a strategic alliance to provide flexible technology-led business solutions and services.

Osprey Energy signed a letter of intent to sell its three northern Louisiana wells (part of the 12 wells included in the Cotton Valley Project) which Osprey purchased from Union Pacific Resources in June, 2000. Osprey will receive $1.8 million, three oil and gas wells, three saltwater disposal wells and a five-year "right of first refusal" for the purchase of any wells in a Louisiana field that the seller deems non-core. Osprey will also have access to saltwater disposal facilities to serve five wells from which water is now transported by truck.

The Society of Exploration Geophysicists (SEG) opened its Geoscience Center at its world headquarters in Tulsa, Oklahoma, on October 11, a date chosen to coincide with Earth Science Week. The objective of the center is to spark the curiosity of students by challenging them to come "See inside the Earth."

Clearwater, Inc., acquired WSP Chemicals & Technology, Inc., an Ambridge, Pennsylvania-based manufacturer of synthetic water-soluble polymers. The addition of WSP creates a new water-soluble polymer division focusing on product development for the oil field, integrating cementing and drilling polymers.

The new Denver, Colorado-based Lone Wolf Operating Co. will be led by Doug Hoisington and Jim Brundige. Lone Wolf is currently operating in Texas and is available for services in the Mid-Continent and Rocky Mountain regions.

Canoro Resources Ltd. acquired a working interest in two gas properties and 15,000 additional acres in the Chambers area of western Alberta from Rosetta Exploration Inc. for about $1 million. The firm then sold a portion of its working interest to Aurado Exploration Ltd. The sale includes two producing gas wells with an additional zone completion planned.

Mustang Engineering, Inc., formed a Compliant Structures Group specializing in conceptual studies, cost estimates, design, engineering and management of projects involving compliant piled towers.

Kerr-McGee completed its acquisition of HS Resources, Inc. HS stockholders will receive election forms allowing them to choose to receive either $6 in cash, or .9404 shares of Kerr-McGee common stock for each share of HS Resources common stock they hold.

Chevron U.S.A. Production Co. in Bakersfield, California, and Schlumberger Oilfield Services have formed a "value enhancement alliance" to improve recovery from the Kern County, California, Lost Hills oil field discovered in 1910.

Mohr Research & Engineering changed its name to MOHR Engineering and Testing to better publicize its expanded testing operations.

Weatherford International, Inc., acquired the artificial lift assets of Axelson and Guiberson Well Service from Halliburton. Weatherford also acquired the assets of America Casedhole Specialists Inc. and ACE Crane and Equipment Co.

Enterprise Oil reached an agreement with Paladin Resources plc for the sale of its wholly owned subsidiary Enterprise Oil Denmark Ltd. for $35 million plus interest.

Aberdeen, Scotland-based John Wood Group plc, acquired 60% interest in a Colombian engineering company, Procesos y Disenos Energeticos SA, which will trade as Energeticos. The remaining 40% will be owned by the previous Colombian owners.

Comsat Mobile Communications is celebrating 25 years of continuous, around-the-clock, commercial operations and providing the critical communications link for customers on land, at sea and in the air.

Robertson Research International Ltd. acquired Target UK, Target Norway and Undeveloped Discoveries businesses from Asset Geoscience Ltd.

Expro Group and FMC Technologies signed a global cooperation agreement to integrate their supply of landing strings and intervention services.

Schlumberger Oilfield Services agreed to acquire Sensor Highway Limited. Meanwhile, Schlumberger also has acquired Kavernen Bau und Betriebs.

The Brazilian government granted Phillips Petroleum deepwater Blocks BM-ES-11 and BM-PAMA-3 in its third licensing round. Block BM-ES-11 is in the Para Maranhao basin. There have been several discoveries on the shelf, but to date no deepwater drilling has been conducted. Block BM-PAMA-3 is in the northern portion of the Greater Campos basin, 75 mi northeast of giant Roncador field.

Gator Exploration Ltd. and its partner acquired seven licenses in the 2-million acre onshore Gippsland-basin coalbed-methane property in Victoria, Australia. Despite no organized attempt yet to produce methane from the Gippsland coals, the stratigraphy and structure have been explored through extensive core bores, water bores, coal mining, etc. Gas has been measured in the coals during conventional oil and gas exploration. WO 

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