Service Companies & Manufactures

CADMATIC Ltd has acquired Finnish software company Kymdata Ltd. The strategic acquisition expands CADMATIC’s product portfolio and includes the entire share capital as well as IPRs to all Kymdata’s CADS software and its business agreements. The acquisition increases CADMATIC’s estimated turnover to EUR 28 million. With the addition of Kymdata’s …

Forum Energy Technologies, Inc. announced today that its subsidiaries have entered into a definitive agreement to sell their aggregate 40% interest in Ashtead Technology, a subsea rentals company. Total consideration for Forum’s interest and the settlement of a Forum GBP 3 million loan to Ashtead will be $47.8 million. Forum will receive approximately $39 million in cash proceeds …

Global multi-disciplined technology and engineering company XL Group has beefed up its senior management team to support further expansion. The north-east firm has created five new business development roles and appointed a new operations director, Richard Dodunski, who now oversees all group divisions. XL Group, which is based in Blackburn, …

Exclusive Agreement Will Jointly Commercialize New MambaTM Severe-Service Couplings to Reduce Tubing Wear and Parted Rod Strings in Rod-Lift, PCP-Lift Applications Weatherford International plc has announced the release of the Mamba™, a severe-service sucker-rod coupling engineered to significantly reduce production-tubing friction and wear in sandy, corrosive, and deviated wells. Designed exclusively …

Following cementing operations foam wiper balls are typically used to remove residual cement, drilling fluid or debris from the inside of the drill pipe or tubing. The foam wiper ball is pumped down the drill pipe wiping the internal diameters before being circulated back to surface along with the debris. …

PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, today announces its interim consolidated IFRS financial results for the six months ended June 30, 2019. 2Q 2019 Highlights Financial §  2Q Revenue up 4% quarter-on-quarter to $1,307m §  2Q Adjusted EBITDA up 11% …

World-First Technology to Transform Well Construction Achieves Milestone; Completes 15,000 Tubular Connections in 50 Operations Worldwide Weatherford International plc has announced that its Vero® automated connection integrity system, which applies artificial intelligence to validate well integrity with absolute certainty and minimize safety risks, has completed 15,000 tubular connections in 50 operations …

TGS-NOPEC Geophysical Company ASA announced today that it has completed its acquisition of Spectrum ASA, creating a leading global multi-client geophysical data provider. TGS first announced its intent to acquire Spectrum on 2 May 2019. Completion of the acquisition and the merger plan has today been registered with the Norwegian …

China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The formal exclusive agreement allows both companies, which are already globally recognised as safe providers of high-quality subsea and well intervention solutions, to expand its capabilities and resources. COOEC Offshore, as …

The Board of ABB has unanimously appointed Björn Rosengren, as Chief Executive Officer. He will join ABB on February 1, 2020 and succeed CEO, Peter Voser, in this role on March 1, 2020. At that time Peter Voser will revert to his position at ABB solely as Chairman of the …