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Company News

Mergers and Acquisitions

  • GE Oil & Gas will buy Salof, a designer and manufacturer of small-scale liquefied natural gas technologies based in Texas. The acquisition includes 200 employees. Together with the acquisition, GE will acquire a 50% ownership interest in Beijing enCryo Engineering, a Beijing-based joint venture between Salof and Beijing Maison Engineering.
  • Enegi Oil entered into a joint venture with Advanced Buoy Technology (ABT) to exploit stranded offshore oil reserves using ABT’s unmanned buoy technology. The companies will work together to secure and develop interests in stranded, offshore oil reserves.
  • NorthWestern Energy will purchase operating and nonoperating natural gas production interests in northern Montana’s Bear Paw basin from Devon Energy Production. This purchase also includes Devon’s 82% interest in Havre Pipeline. The acquisition includes approximately 916 producing wells and connected gathering systems with more than 82 miles of transmission line, 576 miles of gathering lines, and 21 compressors. Net proven reserves are estimated to be 64.6 Bcf.
  • Teekay Offshore Partners will acquire a 50% interest in the Cidade de Itajai (Itajai) floating production, storage, and offloading (FPSO) unit from Teekay for approximately USD 204 million. The Itajai operates in the Baúna and Piracaba fields in the Santos basin offshore Brazil under a 9-year, fixed-rate, time-charter contract with Petroleo Brasileiro. The remaining 50% interest is owned by Odebrecht Oil & Gas.
  • Atlas Resource Partners bought 466 Bcf of natural gas proved reserves from EP Energy for USD 733 million. The reserves are located in the Baton basin in New Mexico and the Black Warrior basin in Alabama.
  • Kodiak Oil & Gas acquired Bakken and Three Forks producing properties and undeveloped leasehold in the Williston basin of North Dakota from Liberty Resources for USD 660 million. Net oil and gas production is currently approximately 5,700 BOEPD.
  • Statoil will acquire 80% of PetroFrontier’s working interest in four exploration permits and two exploration permit applications in the Southern Georgina play in the Northern Territory in Australia. Statoil will carry 100% of the initial exploration phase capped at USD 50 million.
  • Kabe Exploration and International Equity Partners Oil & Gas will jointly explore and develop 7,300 acres of oil leases in the Mississippian field of southern Kansas. Each well is estimated to yield 400,000 bbl of oil, adding up to a potential 9.6 million bbl for the project.

Company Moves

  • Tam International, an oilfield services company that provides inflatable and swellable packers, opened a new office in Dubai. The new office is in a centralized area to enable customers to attend lunch-and-learn sessions, presentations, and in-house training.
  • Produced Water Absorbents chose Aberdeen to locate its first international entity, PWA Europe. The company provides wastewater treatment solutions and services to the oil and gas industry.
  • Omega Well Monitoring opened a new repair and calibration center in Houston. The new location will allow for faster turnaround times and reduced shipping costs for repairs and calibration of Omega’s gauges.

Contracts

  • Northern Petroleum was awarded a 5-year, 100% interest contract in Petroleum Exploration License 629 in the Otway basin in South Australia from the Government of South Australia. The company will perform geochemical analysis and seismic reprocessing. The play spans an area of 1.4 million acres and holds shale oil prospects that have been lightly explored.
  • Pertamina signed a shale gas production sharing agreement in May and will explore the Sumbagut block in north Sumatra, Indonesia. The block is estimated to possess 18.56 Tcf of shale gas. Pertamina is aiming for initial production after 6 years of exploration with production levels beginning at 40 MMscf/D and increasing to 100 MMscf/D in 2020.
  • FMC Technologies was awarded a contract from Anadarko Petroleum for subsea equipment for its Heidelberg field. FMC Technologies will supply five enhanced horizontal subsea trees, tree-mounted controls, two manifolds, and other associated tooling and equipment.
  • Technip, in consortium with Samsung and Huanqiu, was awarded a contract for a liquefied natural gas project in British Columbia, Canada from Pacific Northwest LNG. The project include two 6-MTPA liquefied natural gas trains, process units, and marine facilities; inlet facilities, utilities, and power generation; and off-site structures.
  • Oceaneering International was awarded a contract from Saipem to supply umbilicals for the Burullus West Delta Deep Marine Phase IXa development located offshore Egypt. The award consists of 10 subsea production control umbilicals and two electrical power cables.
  • The Danish Energy Agency approved a 6-month extension for New World Oil and Gas, Danica Jutland, and the Danish North Sea Fund to complete a work program in licenses 1/09 and 2/09 at its Danica Jutland project in western Denmark. The extension will allow the results of the recent acquisition of 3D seismic data to be incorporated into a forward work program.
  • Technip was awarded a major contract for the supply of flexible pipes for the Iracema Sul field in Brazil from Petrobras. The contract includes the qualification and supply of up to 250 km of flexible pipes as well as related equipment for the pre-salt area to be installed on the FPSO unit, Cidade de Mangaratiba.