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Vol. 231 No. 6 |
The GAC Group has strengthened its global energy and logistics network with the opening of GAC Energy & Marine Services LLC (GEMS) in Houston to offer integrated logistics solutions to the oil, gas and mining industries. The facility provides 65,000 sq ft of covered warehousing space and 40,000 sq ft of open-air storage. Its range of services include in-house case packing, international or domestic air and ocean freight management, and charter and project services.
Deep Down Inc., an oilfield services company specializing in products and services for the deepwater oil and gas industry, has entered into a conditional purchase agreement to acquire Cuming Corp. Founded in 1980, the privately held Cuming Corp. is a manufacturer of buoyancy and insulation products for deepwater oil and gas industry applications. Cuming’s operations are complementary with those of Deep Down’s Flotation Technologies subsidiary, which produces syntactic foam products for the oil and gas and other industries. Deep Down expects to acquire 100% of the stock of Cuming for about $37 million in cash and Deep Down shares, and to assume about $13 million of net liabilities.
To better establish its footprint in the upstream marketplace, The Freudenberg Group has launched Freudenberg Oil & Gas. A provider of elastomeric and plastic seals and engineer-designed products, Freudenberg Oil & Gas includes locations in Canada, Houston, Germany, Norway, Scotland, Kazakhstan and Brazil brought together under one unifying company. The company offers a complete range of standard elastomeric seals, custom-molded elastomers, engineered sealing solutions, high-performance machined plastics, pressure-control products and metallic seals and gaskets.
SPT Group of Norway, the provider of the dynamic multiphase flow simulator OLGA, has acquired 100% of the shares of the Calgary-based Neotechnology Consultants Ltd. (Neotec). Combining to offer a complete platform for flow-simulation technology, SPT Group and Neotec will provide steady-state and dynamic software tools for optimization of oil and gas production systems, from design through operations. Neotec will be fully integrated with SPT Group’s Flow Simulations Business Unit and expand the company’s portfolio of multiphase simulations.
Houston-based Pipe Recovery Systems Inc. (PRS) has teamed up with Tejas Research & Engineering, LP, a testing facility, to conduct testing for design enhancement and development of the next generation of chemical cutters. These are mechanical/chemical pressure-actuated devices that use an oxidation/reduction process to cut stuck tubing downhole. PRS is engaged in building its distribution network, and has established distribution centers in Pennsylvania and Colorado and dealers in Canada and Mexico.
Derrick Equipment Co., a division of Derrick Corp., and STEP Offshore (Oslo, Norway), a wholly owned subsidiary of Aker Solutions, announced a distribution agreement that gives STEP Offshore exclusive rights to sell Derrick’s premium solids-control equipment and related products in Europe. The agreement covers capital equipment such as shale shakers, mud cleaners, centrifuges, degassers and flow dividers, and operational equipment such as shale shaker screens and spare parts.
Flint Energy Services Ltd. and Sub-One Technology have agreed to form a new jointly owned company, Flint InnerArmor, which will operate in North America and provide surface treatment services to the oil and gas industry. Flint InnerArmor will have services available in Alberta, Canada, within six months.
A new company, which has developed a sand control system to maximize oil and gas well production, has been launched with the backing of upstream private equity investor Epi-V. The company, Scarlet, has developed a sand screen and inflow control technology that uses hydraulic force applied from the surface to change the shape of pressure chambers within the screen sections. The new company has opened an office and product-development facility in Aberdeen, UK.
Titan Specialties, a provider of perforating and cased-hole logging technology, has acquired EBS, a privately held company in Wichita Falls, Texas, that manufactures select-fire perforating switches. The system, called EB Switch, is a pressure-actuated system used in wireline applications to selectively fire a string of two or more perforating guns in a single run.
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