World Leading Simulator Company to Exhibit at RDCR 2019
Drilling Systems are one of the primary sponsors for this years’ RDCR conference and the world’s largest drilling and well control simulator manufacturer with over 30 years’ experience and more than 1,000 simulators in the field. We are delighted to announce their representative Max Wyndham will be demonstrating their flagship …
Slovakia-Based GA Drilling Receives Significant Funding from Lead Ventures and Signs Service Agreement with MOL Group
GA Drilling signed a EUR 4.2 million funding agreement with Lead Ventures and a service agreement with MOL Group. Lead Ventures, a Budapest based venture capital firm invested funds provided by MOL Group, and Hungarian Eximbank. The deal gives GA Drilling access to onshore production wells to test its disruptive …
Plexus Holdings PLC: Interim Results
Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces its interim results for the six months to 31 December 2018. Financial Results Following the sale of the wellhead Jack-up exploration application business (the “Jack-up Business”) to …
Parker Drilling Successfully Completes Restructuring Process
Parker Drilling Company (“Parker” or the “Company”) today announced that it has successfully completed its financial restructuring and emerged from Chapter 11 protection. Parker moves forward with a stronger financial position, having reduced total debt by approximately two-thirds, from $585 million to $210 million, and securing access to $50 million …
New Ultramodern CGG Facility Boasts Secure and Cost-Effective Storage of Reservoir Fluids and Gas Samples
Smart Data Solutions, part of CGG’s Geoscience division, has opened a new state-of-the-art reservoir fluids and gas sample storage facility in Schulenburg, just west of Houston, Texas. To ensure the integrity of stored sample assets, the purpose-built 60,000 cu. ft. facility is securely enclosed and video-monitored. It also offers the …
Weatherford Completes Sale of Land Drilling Rigs
Weatherford International plc today announced it has completed the sale of two land drilling rigs that were relocated in Algeria and has delivered two idle land drilling rigs from Iraq. The Company received $10 million in cash for each of the land drilling rigs relocated in Algeria and an additional $12 million in cash for …
TMK to Sell Ipsco Tubulars Inc.
PAO TMK announces that it has signed the Stock Purchase Agreement with Tenaris, a manufacturer of seamless and welded pipe, for the sale of 100% of the shares of IPSCO Tubulars Inc. for an aggregate, cash free, debt-free price of US$ 1,209 million, which includes $270 million of working capital. The completion of the …
$54M of New Land Drilling Contracts Secured by KCA Deutag in the Middle East, Russia, Europe and Africa
Further to the announcement issued on 18 February, global drilling and engineering contractor KCA Deutag (“KCAD”) is delighted to announce the award of new contracts on the back of strong tendering activity in its land drilling business. These contracts, with a combined value of approximately $54M, are for drilling operations …
Archer Limited: CEO John Lechner Resigns
Archer Limited announces that CEO John Lechner has resigned from his position, effective immediately. He will remain as a senior advisor to the Archer leadership team during the transition period until a new CEO is appointed. During the interim period, Archer Chairman Kjell-Erik Østdahl will assume the role of Executive …
Sercel Extends Boundaries of Well Exploration with SigmaWave, its First DAS Seismic Solution
CGG announced today that Sercel has launched its first distributed acoustic sensing (DAS) seismic solution: SigmaWave. Designed in partnership with Fotech Solutions, SigmaWave is the first integrated distributed acoustic solution designed exclusively for borehole seismic applications. It is a new and integral part of Sercel’s existing downhole seismic equipment portfolio …