Gazprom Neft Buys Oilfield in Orenburg Region

- Gazprom Neft Buys Oilfield in Orenburg Region

Friday, September 02, 2011
OAO Gazprom Neft

The Gazprom Neft Group has acquired 100% of ZAO Centre of Science-Intensive Technologies, which holds exploration and production licenses for hydrocarbons in the Tsarichanskoye field – the largest of those discovered in the Orenburg region in recent years. According to Gazprom Neft's estimates, recoverable hydrocarbon reserves in the field may exceed 25 million tons.

"Gazprom Neft is familiarizing itself with a new territory – the Orenburg region, which will become, in the long run, another oil production center for the company. Gazprom Neft is planning to expand its presence in the region, both through the development of the underlying asset – the Eastern part of the Orenburg field, and through engaging other blocks to ensure a synergistic effect," said Vadim Yakovlev, the First Deputy CEO of Gazprom Neft.

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NES Buys FairfieldNodal Cable-Free Systems for Apache's Cook Inlet Proj.

- NES Buys FairfieldNodal Cable-Free Systems for Apache's Cook Inlet Proj.

Friday, August 26, 2011
FairfieldNodal

FairfieldNodal recently completed a significant sale of its true cable-free nodal recording systems to NES, LLC, on behalf of Apache Corporation. The $30 million transaction, which includes ZLand and Z700 marine nodes, represents several industry firsts: the first use of Z700 marine nodes in the United States and the first major use of Z700 and ZLand together in a complementary operation.

NES will use these systems for Apache's extensive 3D land, marine and transition-zone seismic acquisition project in Cook Inlet, Alaska, where unpredictable ice and ground conditions as well as strict governmental requirements present some of the most difficult environmental challenges in North America. They expect the project to continue for up to three years.

"We're very excited about Apache's decision," said Gary Bartlett, FairfieldNodal's regional sales manager for North America. "We recently performed a rigorous 10-day test survey for them in the same area, using our ZLand and Z700 nodes in combination. To have Apache specify our nodes for such a difficult and important project shows how confident they are that our cable-free systems are up to the task."

Because all FairfieldNodal nodes are entirely self-contained, they are easier and faster to deploy and retrieve. In the Apache test survey, they performed flawlessly in the same onshore and shallow-water regions NES will tackle in their upcoming long-term project for Apache.

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Maersk Buys Stake in HKN Energy

- Maersk Buys Stake in HKN Energy

Friday, August 26, 2011
Maersk Oil

Maersk Oil, a fully-owned subsidiary of the A.P. Moller – Maersk Group, has acquired a 20% shareholding in HKN Energy Ltd., a subsidiary of U.S.-based Hillwood International Energy, whose sole asset is a license in Kurdistan Region.

The acquisition is a step into the prolific but as yet underdeveloped area of Kurdistan in oil output terms, as Maersk Oil explores opportunities in the region.

"We want to gain knowledge and experience of operations in Kurdistan, which is why we have acquired a shareholding in a company already active in the region," said Jón Ferrier, Head of Business Development and Strategy in Maersk Oil. "In return, we will contribute our technical knowhow and expertise."

HKN Energy holds a 75% interest in and operatorship of the Sarsang license area in northern Kurdistan, on the highly prospective Zagros fold belt. HKN Energy drilled one discovery well in 2011 which is expected to be brought into production in 2012. Marathon Oil holds the remaining 25% interest in the license area.

The parties have agreed not to disclose the terms of the transaction.

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Magnum Hunter Buys New Rigs

- Magnum Hunter Buys New Rigs

Friday, July 15, 2011
Magnum Hunter Resources Corp.

Magnum Hunter announced that the Company's Appalachian Basin Division has acquired two new 2011 Schramm T200XD trailer mounted hydraulic drilling rigs ("Schramm Rigs") with a rated vertical working depth capacity of 9,000 feet. The two new Schramm Rigs will join the existing Alpha Hunter Drilling LLC ("Alpha Hunter") drilling rig fleet comprised of three Schramm T130 rigs.

All five of Alpha Hunter's drilling rigs are under term contracts with third parties who are operators active in the Pennsylvania and northwestern West Virginia Marcellus Shale region. When Magnum Hunter acquired Triad Energy early last year out of bankruptcy, the three existing Schramm Rigs were part of the overall acquisition. Alpha Hunter has been successful in contracting its rig fleet out on an improving day rate basis since last year. The existing drilling rig fleet have been primarily used to drill the vertical top hole sections for Marcellus Shale wells for third parties and for Triad Hunter LLC. These two Schramm Rigs can not only drill the surface holes, but they can also perform the directional drilling operations in unconventional resource shales in this region. They are equipped with automatic pipe handling systems, have unparalleled mobility and utilize the smallest footprint available in the market today. Due to the mountainous terrain in Appalachia, utilizing pad drilling and minimizing surface locations significantly reduce the location cost of each well.

The two new drilling rigs (including drill pipe) are being purchased for approximately $5.8 million and are being financed under a secured commercial bank term loan.

Management Comments

Mr. Kirk Trosclair, Senior Vice President of Equipment Services for Triad Hunter LLC, commented, "The addition of the two new Schramm Rigs recently acquired will expand Alpha Hunter Drilling's ability to provide top of the line, safety oriented, and cost effective contract drilling services for our Appalachian exploration and production customers. Additionally, Triad Hunter will receive the benefit of having an internal source for oilfield service equipment, supplies and drilling rigs available to draw upon and utilize as we expect the markets for this specialized equipment to continue to be extremely tight over the next several years. We believe adding these two high quality drilling rigs to our existing three rig fleet will allow Triad Hunter the greatest amount of operational flexibility in providing for our Company's internal needs as well as third parties."

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Abraxas Buys Drilling Rig

- Abraxas Buys Drilling Rig

Wednesday, July 06, 2011
Abraxas Petroleum Corp.

Abraxas has purchased a drilling rig and hired an experienced rig operator.

Abraxas purchased a used Oilwell 2000 hp diesel electric drilling rig, which will be refurbished and mobilized to the Williston Basin to drill Bakken/Three Forks wells using a multi-well pad drilling system. Abraxas anticipates that the rig will be ready to spud its first well in October 2011 in the North Fork area of McKenzie County, North Dakota where the Company has 60 gross (18 net) identified drilling locations.

The rig will be owned and operated by Raven Drilling, LLC, a wholly-owned subsidiary of Abraxas. Abraxas has hired an experienced rig operator, Tom Coons, who will run the day-to-day operations of the rig and its crew. Mr. Coons has worked for Abraxas as a drilling consultant in the Rocky Mountain region since 1997 and he has drilled numerous wells in various basins throughout his 40 year career in the business.

"Due to the severe shortage of equipment and services in the Williston Basin, we felt it was prudent to secure our own drilling rig in order to get our operated wells drilled on a timely and cost-efficient basis. The multi-well pad drilling system should save a lot of capital costs as the rig walks from location to location which reduces the mobilization costs, in addition to other cost savings by using the same mud system for multiple wells. On the completion side, we are still in the process of negotiating long-term availability of services; nonetheless, we are beginning to see additional availability in the basin, both of which will be of benefit to us once we get our operated wells drilled and ready for fracture stimulation," commented Bob Watson, Abraxas’ President and CEO.

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Aker Buys Majority Stake in Norwegian Subsea Duo

- Aker Buys Majority Stake in Norwegian Subsea Duo

Wednesday, June 29, 2011
Aker Solutions

Aker Solutions has acquired 70 percent of the Norwegian companies Ing. Harald Benestad AS (Benestad) and Phaze Technologies AS.

Benestad and Phaze Technologies, founded and owned by Harald, Pål and Randi Benestad, are well established globally in the subsea industry and have been among the key suppliers to Aker Solutions as well as other major subsea companies for a number of years. Both companies are located in close proximity to Aker Solutions' subsea technology and manufacturing centre in Lier, Norway, and employ 33 people and with a 2010 operating revenue of NOK 49 million (USD 9 million).

Benestad, a highly specialized materials science company, delivers high technology products for hostile, extreme pressure and high temperature subsea environments. All subsea instruments and power consumers require leak free connections through pressure housings and Benestad's power and signal penetrators are viewed by Aker Solutions as the best quality with the highest functionality in the industry.

Phaze Technologies provides advanced and reliable instruments for hydrocarbon leak detection, water leak detection, pressure and temperature measurements and water cut metering. The market for such products is growing as a consequence of more stringent environmental regulations and optimization of production from subsea fields.

"Benestad and Phaze Technologies have unique competence and experience within their fields and a strong commitment to developing leading edge and extremely reliable products. They have very strong technological expertise which will significantly broaden and deepen Aker Solutions' competence base," said Mads Andersen, executive vice president of Aker Solutions' subsea business area.

Pål Benestad, chairman of Benestad and Phaze, said, "Aker Solutions share our vision to be the preferred partner to our existing and new customers. Innovative solutions based on strong technological know-how will remain our focus area going forward and access to Aker Solutions' customers and regional network will enable further growth for both Benestad and Phaze."

Both companies will continue to operate as independent companies with existing management and brands servicing a broad range of long standing clients.

Completion of the agreement is subject to clearance by Norwegian competition authorities. The transaction value is undisclosed.

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GDI Buys Ensco Jackup

- GDI Buys Ensco Jackup

Monday, June 27, 2011
Gulf Drilling International Ltd.

Gulf Drilling International has purchased from ENSCO Offshore the jackup drilling rig known as ENSCO 95 on June 22. The rig is a 3 legged Hitachi cantilevered drilling rig rated for 250 feet of water depth. GDI are most satisfied with the fine cooperation and support that ENSCO has extended to make this transaction possible. This is not GDI's first encounter with Ensco as the Al-Rayyan jack-up rig (formerly the ENSCO 55) was acquired from them back in 2005.

GDI will have a full Special Survey performed prior to placing the rig into service in order to obtain a new Class Certificate. This will necessitate the rig being put into shipyard for a 3 to 4 month period where major refurbishment will be done. The rig will be deployed for operating in Qatari waters on completion.

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Treaty Buys Equipment for Belize Drilling Proj.

- Treaty Buys Equipment for Belize Drilling Proj.

Thursday, June 23, 2011
Treaty Energy Corp.

Treaty announced the purchase of several pieces of machinery that will be sent to Belize in early July.

Andrew V. Reid, Chairman and CEO of Treaty Energy Corporation, stated, "The major piece of equipment that we have purchased is a much larger drilling rig that is capable of drilling to depths of 6500 feet. We will post pictures of this new rig along with its specifications to the Treaty Energy website in a few days."

Mr. Reid stated, "The reason for this purchase was two fold: first, the Schramm 450 Drilling Rig originally purchased to go to Belize will need more work than our time line permits. That rig will be used in Texas when refurbishment is completed; and second, current studies by Treaty's group of geologists, well locators, and satellite surveyors suggest the possibility that deeper pay zones could exist and this rig will be capable of exploring those deeper pay zones at a later time, after the more shallow wells are drilled and producing."

Mr. Reid went on to say, "We have acquired equipment for well pad construction and road construction to the well sites. This equipment consists of: a New Holland B95 Backhoe; and a 2006 D4G Caterpillar Bulldozer. The final purchase is a crew truck to replace the rental vehicle that has been used over the past months. This vehicle is a Chevrolet Duramax Diesel Crew Cab 4WD Pick Up."

Treaty indicated that all of the above equipment will be shipped by sea to Belize out of Mobile Alabama with a planned departure date of July 10, 2011. The shipment will go directly to Belize with a scheduled travel time of five days.

In conclusion Mr. Reid stated, "Because of the rapid pace of events in Belize, our stakeholders can expect frequent updates on this project as all such updates are now becoming extremely important."

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Rockbridge Buys Acreage in Pembina

- Rockbridge Buys Acreage in Pembina

Wednesday, May 25, 2011
Rockbridge Resources Inc.

RockBridge announced that in addition to a deal struck with EnCana Corporation in the first quarter of this year to acquire rights to the NW quarter of section 28-48-3W5, the Company has now also acquired the NE quarter of section 28-48-3W5 at a crown land sale. The net working interest for RockBridge in the entirety of section 28-48-3W5 will now be 37.5%. The Company is also pursuing additional acquisitions and land swaps in its two core Pembina Cardium properties to rationalize and maximize future drilling locations and reserves capture. For example the above acquisition has added two horizontal drilling locations to the company's inventor increasing it from 20 to 22. The Company has been approached by nearby parties to farm-in on our acreage; however, to date no transaction has been consummated.

RockBridge President and CEO, Richard J. Wolfli, stated, "We are consolidating and rationalizing our southern Pembina Cardium lands to maximize the exploitation schemes and the total reserves we can exploit and prove on the acreage. This is important in crystallizing value for the resource in future drilling or farm-out opportunities."

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CGGVeritas Buys Petrodata Consulting

CGGVeritas Buys Petrodata Consulting

Friday, April 22, 2011
CGG Veritas

CGGVeritas has purchased Petrodata Consulting.

The acquisition of Petrodata further strengthens the reservoir services of CGGVeritas, via Hampson-Russell Software & Services, offering seamless, fully integrated reservoir studies and field development planning.

Since the Petrodata team came together in 1997 its highly qualified staff has established a reputation of excellence in the Russian industry. Many on the team are qualified to act as official experts for GKZ and TsKR, the Russian reserves and production regulatory authorities. By capitalizing on their extensive experience and expertise, Petrodata developed a significant share of the domestic reservoir services market and have captured a growing share of projects for international oil and gas companies around the world.

Rob Mayer, Sr. VP, Hampson-Russell Software & Services, CGGVeritas, said, "We are very pleased by this acquisition which perfectly complements our existing high-end stochastic, petrophysical and 4D inversion technologies to better define the reservoir. We look forward to strengthening our Hampson-Russell Software & Services presence in the important Russian oil and gas market and leveraging the excellent reservoir engineering skill set of the Petrodata team across our worldwide network of CGGVeritas service centers to better meet the specific local needs of our clients."

Lukoil Buys 25.1% Stake in Trebs, Titov Project

Lukoil Buys 25.1% Stake in Trebs, Titov Project

Friday, April 15, 2011
Dow Jones Newswires
by Jacob Gronholt-Pederson

Lukoil has agreed to buy a 25.1% stake in the Trebs and Titov exploration project in northwest Russia from mid-sized oil company Bashneft.

Lukoil paid RUB4.7 billion ($166.7 million) for the stake in the project, which needs investment of $6 billion, Lukoil's Chief Executive Vagit Alekperov said.

Lukoil expects first oil from Trebs and Titov in the fourth quarter 2013 or the first quarter 2014, he said.

Bashneft, which is majority-owned by conglomerate AFK Sistema, last year won the right to develop the Trebs and Titov oil fields ahead of bigger rivals such as Lukoil and TNK-BP Ltd.

Last year's auction for the Trebs and Titov fields, which combined hold 1.5 billion barrels of oil, was mired in controversy after bidders were told by authorities they couldn't bid because of incorrectly-filed applications.