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 …
KCA Deutag Secures Land Drilling Contracts for Five Rigs Worth $48m
Leading international drilling and engineering contractor KCA Deutag today announces that its land drilling operation has been awarded new contracts for five rigs with a combined contract value of $48 million. The first of those rigs, the T-72 has been awarded a nine month contract in Pakistan for one firm …
GE: To Divest Baker Hughes?
GE‘s new CEO’s plans stick to health care, power and aviation, stop short of breakup. General Electric Co.’s new leader plans to unveil a road map Monday for the conglomerate that will focus on three of its biggest business lines, but stops short of a breakup or more radical restructuring …