Oilfield technologies company Blue Water Petroleum Corp. signed a letter of intent with Viscos Energy Partners to form STO (Sludge to Oil) to operate Viscos’ oil sludge remediation, upgrading system.
Reservoir services company Core Laboratories NV acquired Sanchez Technologies in an all-cash transaction. Sanchez is based in Viarmes, France. Sanchez designs and manufactures cutting-edge reservoir pressure-volume-temperature equipment and instrumentation.
Seventy received $42 million for the sale of Hodges to an Aveda Transportation subsidiary. Hodges currently operates and owns about 900 pieces of rig moving and heavy haul equipment.
Wellsite services provider ROC Services Co. will be acquired by Coral Reef Capital.
The Houston company will continue to provide the full suite of construction, maintenance and engineering procurement construction (EPC) services it currently offers through its oil and gas, utility transmission and distribution (T&D) and Canada segments.
Prospector Offshore Drilling SA will sell two heavy-duty, harsh-environment jackups, and , to subsidiaries of SinoEnergy. Prospector will receive about $292 million in net proceeds.
NFS’ full line of drilling fluid additives, including lost circulation materials, emulsifiers, lubricants and shale inhibitors used onshore and offshore were included in the $5 million transaction.
Hodges operates and owns about 200 haul trucks, 400 trailers, 70 bed/pole trucks, 35 cranes, 40 forklifts/loaders and 160 service vehicles. The transaction is scheduled to close June 15.
Saudi Aramco will receive engineering, procurement, construction and installation services, fabrication services and facility maintenance for development of non-associated gas fields and production as it expands offshore to Red Sea.
Through a cooperation agreement, multiclient seismic imaging company Spectrum Geo and oilfield services company Schlumberger Ltd. will jointly acquire and process Spectrum’s offshore Mexico Campeche-Yucatan 2-D regional multiclient program.
Saginaw, Texas-based Connor Oil Tools manufactures well intervention products, and they will join the product range of Legacy Oil Tools, said David Wesson, Geodynamics’ president and CEO.
Services companies have taken the hardest hit in industry from the oil price drop, Bloomberg said. Companies with weaker balance sheets might need to consider mergers to survive.
|Mid||USD 257.5||Members only||Energy XXI Ltd.|
|E&P||USD 18.4||Members only||New Standard Energy Ltd.|
|Mid||USD 837.5||Members only||Bridger Logistics LLC|
|E&P||USD 0||Members only||Gale Force Petroleum|