Emerson Agrees to Acquire Paradigm
Emerson has agreed to acquire Paradigm®, a leading provider of software solutions for the oil and gas industry, for a purchase price of $510 million, reflecting a multiple of 13 times expected 2017 EBITDA. Paradigm, joined with Emerson’s existing Roxar software business, creates a best-in-class, end-to-end Exploration & Production (E&P) …
NOV Grant Prideco: Delta Connection Performance Without Compromise
Rising wells costs and expensive connection repair rates drove a conversation between NOV and its customers on how to combat these persistent issues. The result: a stronger, more cost-effective drill-pipe connection that doesn’t compromise on performance. The Delta™ rotary-shouldered drill-pipe connection addresses the needs of a diverse, shifting market by …
Tendeka: Wins Multi ICD Contracts in the Middle East
Following a recent award by the Kuwait Oil Company (KOC) to deliver a lower completions project, Tendeka, a global leader in advanced completions and production optimisation, has been awarded two further contracts in the Middle East. The multi-million-pound agreements with the Abu Dhabi Onshore Operations Company (ADCO) and Petroleum Development …
Wood Group: Completes Amec Foster Wheeler Acquisition
Wood Group is pleased to announce that it has completed the acquisition of Amec Foster Wheeler. Wood Group’s new ordinary shares will be admitted to the premium segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange with effect from …
Schlumberger: Launches GROVE IST Integrated Seat Technology Ball Valve
GROVE IST – Ball valve improves metal-to-metal valve performance and seal integrity with a smaller, lighter design to save operating cost. Schlumberger announced today the release of the GROVE IST* integrated seat technology ball valve. New ball valve technology features a patented seat-on-ball design that significantly improves performance over conventional …
Paulo Ruiz Sternadt Named CEO for Dresser-Rand Business
Paulo Ruiz Sternadt (42) has been appointed CEO of the Dresser-Rand business, part of Siemens Power and Gas Division. He succeeds Judith Marks (54) who will leave the company at her own request. Mr. Ruiz Sternadt brings to this position extensive leadership experience including more than 16 years with Siemens …
BHGE: Appoints Lorenzo Simonelli as President and Chief Executive Officer
Baker Hughes, a GE company today announced that its board of directors has elected BHGE President and Chief Executive Officer (CEO) Lorenzo Simonelli as chairman of the BHGE board, effective October 2. Simonelli will continue in his president and CEO role, which he has held since the closing of the …
DNV GL: Liv Hovem Appointed as the New Oil & Gas CEO
DNV GL has appointed Liv Hovem as the new CEO of its Oil & Gas business area. Starting 1 January 2018, Hovem will report to Group President and CEO Remi Eriksen. Liv Hovem will take over as CEO of DNV GL’s Oil & Gas business area, which provides integrated technical …
Weatherford: Roxanne Decyk and David King Join the Board
Weatherford International plc (NYSE: WFT) today announced that it appointed Ms. Roxanne J. Decyk and Mr. David S. King to serve as Directors of the Board, effective September 21, 2017. Over the course of her career, Ms. Decyk has held executive roles at Royal Dutch Shell and Amoco where she …
Key Energy Services: Sells Russian Well Intervention Business
Key Energy Services, Inc. has closed on the sale of its well intervention business in Russia (“Russian Business”) to an undisclosed buyer for an undisclosed amount. Key’s President and Chief Executive Officer, Robert Drummond, stated, “The sale of Key’s Russian Business marks the culmination of the strategic initiative set forth …