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Vol. 228 No. 10 |
Offshore Hydrocarbon Mapping (OHM) has completed the acquisition of the Houston-based Rock Solid Images (RSI). RSI integrates fundamental rock physics with well data and surface seismic to interpret geophysical signatures in terms of reservoir properties such as lithology, porosity and saturation, providing geologic insight and reservoir understanding at all stages of the oilfield life cycle. OHM provides controlled-source electromagnetic imaging (CSEM), an offshore geophysical technique to detect the presence and extent of hydrocarbon accumulations below the seabed. The two companies have been collaborating for over a year on initiatives to integrate CSEM data into RSI’s geologic models. This acquisition follows a strategic alliance with CGGVeritas to jointly develop the global market for CSEM.
CGGVeritas has acquired 15% of the shares of OHM.
At this year’s Louisiana Gulf Coast Oil Exposition (LAGCOE), the second largest oil and gas industry trade show in the US (Oct. 23-25 2007, in Lafayette, La.) more than 16,000 engineers and executives are expected to visit the more than 700 indoor and outdoor exhibit spaces. LAGCOE has been selected for the third time to participate in the US Department of Commerce International Buyer Program (IBP).
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Cyviz is opening a state-of-the-art visualization center in Stavanger, Norway. The Cyviz Technology Center (CTC) houses six different multifunctional visualization rooms and showcases trends in the visualization industry. The facilities are fully equipped with workstations, graphic boards, video conferencing and secure communication equipment.The company develops and manufactures advanced display technology for the oil and gas industry, as well as manufacturing, education and life sciences.
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TGS-NOPEC Geophysical Company ASA ( TGS ) and the Norwegian marine geophysical company Wavefield Inseis ASA have signed a merger agreement to combine the two companies. Under terms of the plan, Wavefield Inseis shareholders will receive 0.505 TGS shares for each Wavefield Inseis share.
IHS Inc, a provider of critical technical information, decision-support tools and strategic services, has acquired Norwalk, Conn.-based John S. Herold, Inc., an independent research firm that provides in-depth analyses and key financial and operational data on more than 400 global oil and gas companies. IHS acquired Herold for $48 million in an all-cash transaction.
Emerald Metals, LLC, has acquired the rights to market, sell and distribute high-performance perforating gun steel developed by GEODynamics, Inc. Under the agreement, GEODynamics’ steel mill will continue with technical developments, logistical services, stocking and global supply of specification material through Emerald Metals.
MODEC, BHP Billiton, and the Jurong Shipyard celebrated the naming ceremony of the FPSO Stybarrow Venture MV16 in August 2007. MODEC is the owner and operator, BHP Billiton holds the long-term lease, and Jurong is the shipyard responsible for integrating the topsides. The FPSO will be located in permit WA-255-P (2) in the Exmouth sub-basin off the northwest coast of Australia. The unit has a storage capacity of 900,000 bbl, a total liquid process capacity of 100,000 bpd, a crude production capacity of 80,000 bopd, and gas production capacity of 45 million scf/day.
Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). The activities of IMS and ChainCo are in line with existing Acteon companies InterMoor and Trident. As a whole, InterMoor and IMS together will possess the world’s largest inventory of mooring equipment available for rental. The acquisition of Seatronics provides an entry for Acteon into the advanced marine survey sector.
AlMansoori Specialized Engineering (MSE) of Abu Dhabi, UAE, has acquired Target Energy Group Ltd, headquartered in Aberdeen, UK. MSE takes complete ownership of the entire capital of Target Energy and its subsidiaries Target Well Control UK, Tiebo Middle East, Target Well Control France, Target Well Control Syria and Target MWD Canada.
Pride International, Inc., signed a memorandum of agreement to sell its fleet of three self-erecting, tender-assist rigs to Ferncliff TIH AS of Norway for $213 million in cash. The sale is expected to close by January 2008. The three units, the Al Baraka I, Alligator and Barracuda, are currently under contract to major international oil and gas companies and operating offshore West Africa.
Offshore and marine consulting firm Noble Denton Group has acquired Lowe Offshore International Ltd. (LOI). The move will increase Noble Denton’s annual turnover to more than $100 million. In April 2007, the group acquired the Oslo-based engineering firm Indec, and in July it acquired consultancy firm Poseidon Maritime (UK).
Blacksands Petroleum, Inc., has acquired 75% of the privately-held Access Energy Inc., a firm engaged in oil and gas exploration and development in Western Canada and the US. Access has a business partnership with the native American Buffalo River Dene Nation, which allows for the exclusive and binding surface access rights to explore for oil and gas on their traditional territories in Northern Saskatchewan.
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