Tendeka: FloFuse, New Technology Launched
In response to the challenges of effective water injection in fractured reservoirs, independent global completions service company Tendeka has launched a new technology to optimize oil production. As an addition to their extensive range of advanced inflow control technology, FloFuse can increase oil recovery by improving injected water conformance in …
Weatherford Receives Notice from NYSE regarding Continued Listing Standard
Weatherford International plc (NYSE: WFT) (the “Company” or “Weatherford”) today announced it has received written notice from the New York Stock Exchange (the “NYSE“) that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because …
Plexus Holdings PLC: Invest in Precision Engineering Business – Kincardine Manufacturing Services Ltd
Highlights Investment of £735,000 in cash to acquire a 49% interest in Kincardine Manufacturing Services Limited (‘KMS’), a specialist precision engineering business with a blue-chip customer base, producing a variety of parts for the oil and gas sectors KMS provides Plexus with future access to machining capability which can support …
Plexus Holdings PLC: AGM Statement
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, will hold its Annual General Meeting (‘AGM’) today. At the AGM, Jeff Thrall, Chairman, will make the following …
KMG Nabors Drilling: Sets Kazakh Record for Multi Pad Drilling
Last month, Nabors Rig #584 set a multi-pad record, drilling five wells in 179.7 days with an average 32.9 days per well for a major customer in the Tengiz field of Kazakhstan. This was achieved through safe and efficient operations without any harm to personnel, the environment or surrounding communities. …
Coretrax Secures Investment to Fast-Track International Growth
Coretrax, the independent wellbore clean-up and abandonment specialist, has received a substantial investment from private equity firm Buckthorn Partners to accelerate its ambitious international growth plans. The Aberdeen headquartered company, which supports global well construction, completion and end-of-life operations, recently reported record trading performance across its operational centres in the …
Siemens Supplies World’s First Lithium-ion Battery Solution for Offshore Drilling Rig
World’s first drilling rig to operate a low-emission hybrid power plant using Siemens’ lithium-ion energy storage solution Integration of BlueVault™ will reduce fuel consumption by 12 percent and CO2 emissions by 15 percent The long-term sustainability of the offshore oil and gas sector is predicated on reducing costs and minimizing …
Akastor ASA: First Geo and AGR Combine to Create Leading Provider of Well, Reservoir and Software Services
Akastor ASA, through its wholly owned subsidiary Akastor AS, has today entered into agreements with Silverfleet Capital, DNB Bank ASA and Nordea Bank Abp, filial i Norge (together the AGR stakeholders) to combine AGR Bidco AS (AGR) with First Geo AS (the Transaction). The Transaction will be carried out primarily …
CGG and OMV Continue Cooperation with Multi-Year Extension of Dedicated Center
CGG announced today that its contract with OMV to operate a dedicated center at its head office in Vienna has been renewed. The contract will run for a further three years. During this period OMV will continue to benefit from onsite access to CGG’s subsurface imaging and reservoir characterization expertise …
New DNV GL Research Sees Long-Term Expansion of Hydrogen Use for Energy
Decarbonization could drive an estimated 100,000-fold rise in demand for hydrogen for energy by 2050, according to new DNV GL research paper The paper lays out a viable business concept for producing low-carbon transportable hydrogen offshore from natural gas Australia, Canada, the Netherlands, the UK and the US are most …