Nabors Industries: Completes Tesco Corporation Acquisition
Nabors Industries Ltd. (“Nabors”) (NYSE: NBR) and Tesco Corporation (“Tesco”) (NASDAQ:TESO) today announced the completion of the previously announced acquisition of Tesco by Nabors. Under the terms of the agreement, Nabors acquired all common shares of Tesco in an all-stock transaction. Tesco shareholders will receive 0.68 common shares of Nabors …
Russian Upstream Projects Require $102.6bn by 2020 to Maintain Stable Production, says GlobalData
An average of $34.1bn per year in capital expenditure will be spent on 1,673 oil and gas fields in Russia between 2018 and 2020, according to GlobalData, a leading data and analytics company. Capital expenditure into Russian traditional oil projects will add to up $55bn over the three-year period, while heavy …
Oil States: To Purchase Geodynamics for $525m With $300m in Cash
Oil States International (NYSE:OIS) agrees to acquire GEODynamics, a provider of oil and gas perforation systems and downhole tools from funds managed by Lime Rock Partners for $525M in cash and stock. The deal consists of $300M of cash at closing, the issuance of 8.66M OIS common shares valued at …
Tendeka: Secures OGTC Funding for PulseEight Testing
Independent global completions service company Tendeka has been awarded funding from the Oil & Gas Technology Centre to advance further field testing of its wireless intelligent completions technology, PulseEight. The funding will help Tendeka install a PulseEight downhole device and a newly developed PulseEight surface system with OMV Group in …
ABB: Subsea Variable Speed Drive Successfully Tested Under Water
Test simulated harsh water environment to subsea variable speed drive (VSD) and proves reliability of concept as Joint Industry Project team pushes boundaries of traditional product development. The first full scale prototype of a subsea variable speed drive has been successfully tested in a sheltered harbor in Vaasa, Finland, taking …
TAM International: Opens a New 11,000 sq. ft Manufacturing Facility in Russia
TAM International, an independent oilfield services company providing inflatable and swellable packers to the oil and gas industry, announces the opening of a new manufacturing facility in Obninsk, Russia. Obninsk is in the Kaluga region, southwest of Moscow. The facility includes over 11,000 sq. ft. of manufacturing space and over …
Tendeka: Appoints Brad Baker as CEO
Global oil and gas solutions provider Tendeka has appointed Brad Baker as its new Chief Executive Officer as the independent completions and production optimisation specialist gears up for further growth. Mr Baker joins Tendeka after a 27-year career with Baker Hughes, most recently as Vice President of Stimulation and Production …
ARANZ Geo Changing its Name to Seequent
ARANZ Geo announced today that the company is changing its name to Seequent. The name change and rebrand reflects the company’s expansion into a broader range of global industries and markets. Seequent leads the world in visualisation of complex scientific data. It first introduced its Leapfrog® 3D geological modelling software to …
Icemann Reaches 10,000 Safe Transfers
The Icemann gangway system has reached a milestone 10,000 transfers since its arrival in Eastern Russia in August to transfer personnel working on offshore platforms under the Sakhalin-2 project. Developed by Ampelmann, the global leader in offshore access solutions, it is currently the only gangway system of its kind able …
TMK Announces 3Q and 9M 2017 IFRS Results
PAO TMK (“TMK” or “the Group”), 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 third quarter of 2017 and nine months ending September 30, 2017. 3Q and 9M 2017 Highlights Financial – 3Q …