Expro Opens New Operating Base in Canada

- Expro Opens New Operating Base in Canada

Wednesday, July 27, 2011
Expro International Group

Expro announced the establishment of a new, purpose-built operating base in Newfoundland, Canada.

Ground was broken on the new base in April 2011 and construction is expected to be completed in October of this year. Upon completion of construction, Expro plans to open the facility for business in November.

The new operating base will support the provision of well testing, subsea and DHV services for offshore Newfoundland. These service and product offerings will be enhanced going forward as new opportunities present themselves in the ongoing exploration and development of the offshore fields in the area.

"Expro Canada has experienced strong growth in the past few years, and the Eastern Canadian offshore is a critical part of this success as well as its future growth," said Carl Cooper, Frontier Division Manager for North America.

"Enabling this expected growth requires a purpose-built home from which our team can continue to provide world class equipment and services to the expanding industry."

When complete, the base will accommodate a team of 30 people, the majority of whom are local employees.

The new Expro facility will be located in the new Paradise Industrial Park in Paradise, Newfoundland. It will consist of a four-bay workshop with 8400 sq. ft. of warehouse area, an office annex with 6000 ft. of office space on two levels, and an acre of paved and fenced yard.

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Flexlife Opens New Base in UK

- Flexlife Opens New Base in UK

Tuesday, July 19, 2011
Flexlife

Flexlife has opened a new base in Newcastle and plans to recruit 25 staff by the end of this year, rising to 50 within 18 months.

The award-winning company has appointed Andrew Lake as Director of Operations in Newcastle. He is a Chartered Engineer with more than 30 years experience, including senior roles at Soil Machine Dynamics, BPP Technical Services and Wellstream International. He holds a 1st class Mechanical Engineering degree and is a Member of both the Institute of Mechanical Engineers and the Association for Project Management.

As well as attracting new recruits into the industry, Flexlife believes the location will be a draw to many workers who commute weekly to Aberdeen and other energy hubs at present. The office is at the newly developed Baltic Place on the quayside near to the Millenium Bridge.

Chief Operating Officer John Marsden said, "We know from our experience that there is a talented pool of highly-skilled staff in the Newcastle area and we are hoping to tap into that. We have the best team in the industry and are confident we will quickly attract the same caliber of staff for our Newcastle office. We are already off to a great start with Andy taking charge of our operations in Newcastle."

Mr. Lake said, "Flexlife is experiencing a period of significant growth and the new office will expand our capability to offer specialized support to our clients. The choice of Newcastle for this latest expansion recognizes the skills in the region and will be a new addition to the growing subsea sector in the North East of England."

Mr. Marsden added, "Flexlife has continued to build on its reputation for offering a full subsea integrity and project management package, assisting clients to cost-effectively manage all of their subsea assets and infrastructure. Looking ahead, the Newcastle office will provide us with the capability to expand our range of services to include front end engineering design to support the ongoing work for our clients."

Flexlife reported an increase in turnover of more than 50% for year ending 2010/11, with a rise from £4.8million to £7.5million. A further rise to £17.8million is predicted for 2011/12.

As well as the new office in Newcastle, Flexlife has moved into premises in Brazil and taken on a new global HQ in Aberdeen. The company also operates in Africa, the Far East and Mediterranean and staff numbers globally are expected to reach 120 by the end of this year.

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Atlas Increases Borrowing Base

- Atlas Increases Borrowing Base

Monday, June 27, 2011
Atlas Energy, L.P.

Atlas announced that its lending group on its senior secured credit facility has completed its borrowing base redetermination and has increased Atlas Energy's borrowing base from $125 million to $160 million. Atlas Energy currently has no amounts borrowed against its credit facility. Wells Fargo Securities, LLC led the lending group in the redetermination process and there were no other changes to the terms of the credit facility.

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Riverdale O&G Boosts Asset, Revenue Base

- Riverdale O&G Boosts Asset, Revenue Base

Friday, May 20, 2011
Riverdale O&G Corp.

Riverdale O&G is steadily increasing its assets and revenues through acquisition of oil and gas interests that are non-operating and without the costs for drilling and completion. The latest acquisition is a 160 acre, 2.5% carried working interest (CWI) on 3 new producing wells and 1 well scheduled for drilling to 5,500', in the next few weeks, situated in Frio Co., Texas.

Recently, RVDO acquired a 1.667% CWI in 60 acres in Lavaca Co., Texas, which is scheduled to be drilled to 6,000', within a month and has an estimated reserve of two billion cubic feet (2 BCF) of gas and 12,000 barrels of condensate.

RVDO is currently in the process of commencing a 3D seismic acquisition over its 631.82 acre Foster Lease, located in Jim Wells Co., Texas. Funding is being completed and a 8,500' well is estimated to be drilled during the 4th quarter, 2011, that could penetrate 16 potential oil and gas reservoirs, that have been identified from the offset producing wells. There are an additional 8 to 10 development wells that could be drilled on the Lease. RVDO will retain a 6.25% CWI.

Each project mentioned above, has or will have the utilization of 3D seismic, and the application of a proprietary Neural Network interpretation process. The Neural Network has demonstrated the ability to define oil and gas accumulations, with much greater accuracy, than the use of 3D seismic alone.

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