JPT

 

Vol. 58 No. 9

September 2006

Company News

Emerging Technology

  • Weatherford signed a 3-year technology development cooperation agreement with Statoil ASA to develop new fiber-optic-based sensing and communication systems to extend the life of oil and gas fields. The two companies will focus on the development of new downhole optical sensing systems as well as an integrated fiber-optic subsea communication system.

  • Digital Gas Inc. signed an agreement with Carbon Recovery Corp. (CRC) of West Berlin, New Jersey, to collaborate on commercializing CRC’s advanced magnetic-resonance technology. The technology seeks to recover oil and other raw materials from relatively untapped resources including oil shale, oil sands, tires, municipal solid waste, and other potential sources such as coal and plastics.

  • Chevron and the Georgia Inst. of Technology formed a strategic research alliance to pursue advanced technology aimed at making cellulosic biofuel and hydrogen viable transportation fuels. Chevron will contribute up to U.S. $12 million over 5 years for research into and development of these emerging energy technologies.

  • WesternGeco announced that Shell will underwrite a major portion of the first multiclient wide-azimuth, towed-streamer exploration survey in the Gulf of Mexico. The project covers a minimum of 200 Outer Continental Shelf blocks in the central Gulf of Mexico, about 125 miles off the coast of Louisiana in water depths of 4,400 ft.

Corporate Moves

  • Digital Oilfield Inc. opened an office in London. The U.K. staff will focus on sales and support of Digital Oilfield’s software solutions in Europe, Africa, and the Middle East.

  • Aspen Aerogels, a Massachusetts-based developer of the nanotechnology-enabled aerogel blankets, will open a new laboratory in Edmonton aimed at increasing aerogel blanket applications in the Canadian oil-sands market.

  • Sonic Environmental Solutions Inc. established a wholly owned subsidiary, Oil Sands Sonoprocess Solutions Inc., which will focus on the application and development of core sonic generator technology in the oil sands industry.

Mergers and Acquisitions

  • Anadarko Petroleum will acquire Kerr-McGee and Western Gas Resources Inc. in separate all-cash transactions totaling U.S. $21.1 billion, plus the assumption of debt estimated at $2.2 billion. Anadarko also announced plans to sell its subsidiary, Anadarko Canada Corp.

  • Schlumberger acquired TerraTek Inc., a firm involved in geomechanics measurements and analysis. -TerraTek will become the Geomechanics Laboratory Center of Ex-cellence for Schlumberger Data & Consulting Services. The center will offer rock-mechanics evaluations, unconventional-gas-reservoir analysis, large-scale drilling and completions performance testing, and log-to-core integration.

  • Petris Technology Inc. acquired the software and support assets of Maurer Technology software owned by Noble Technology Services. Petris will assume worldwide responsibility for the development, sales, service, and future development of the Maurer drilling and completion software.

  • ROC will acquire from Apache Corp. a 24.5% interest in the Zhao Dong Block in Bohai Bay, offshore China, for U.S. $260 million.

  • Schlumberger Information Solutions acquired the rights to Quorum Volume Management software from Quorum Business Solutions. The software is a comprehensive field operations data management application with multiple heavy-oil volume-management installations in North America and a large-scale brownfield installation in Asia.

  • Aberdeen-based well and pipeline service company Qserv acquired Weatherford’s coiled-tubing, flowline, and nitrogen-related assets and contracts in the North Sea and Europe and related work in the Ivory Coast, Equatorial Guinea, Mauritania, and Yemen.

  • Acteon acquired flexible-pipe lay and retrieval specialists Aquatic Engineering and Construction Ltd. Aquatic has headquarters in Aberdeen; a main operations base in Peterhead, U.K.; a subsidiary in The Netherlands; and satellite sales offices in Egypt, Qatar, and Southeast Asia.

  • Expro Intl. Group acquired PWS, a supplier of well-testing and other flow-management products and services for U.S. $674.5 million. PWS’s operations include a global well-testing business and a regional fluids-analysis business, as well as choke-equipment supply and related services to the land well market in the U.S.

  • TNK-BP agreed to sell oil company Udmurtneft to China’s Sinopec for an undisclosed amount. The deal marks a strategic advance by Sinopec into Russia.

  • Independent petroleum producer Energy Partners Ltd. agreed to acquire Stone Energy Corp. for U.S. $1.4 billion.

Contracts and Tenders

  • Hydro awarded Aker Kvaerner a contract for a subsea compression pilot for the Ormen Lange gas development project. The aim of the pilot is to evaluate whether a subsea compression station, at approximately 900 m water depth, is a viable alternative to an offshore platform.

  • Weatherford was awarded a 5-year contract worth approximately U.S. $87 million by Petrobras to provide drillpipe-riser intervention systems and services to be used for installation and intervention in subsea wells in the Espirito Santos basin.

General

  • V&M STAR received the Steel Manufacturers Assn. 2006 Recycler of the Year Award for its dedication to environmental stewardship.

  • Chevron announced the launch of Energy for Learning, a U.S. $18 million program to support public school education in 23 Louisiana and Mississippi school districts affected by Hurricanes Katrina and Rita.