FET Expands Capabilities with SVP Products Purchase

- FET Expands Capabilities with SVP Products Purchase

Friday, July 08, 2011
Forum Energy Technologies Inc.

Forum Energy Technologies (FET) announced the acquisition of SVP Products. The company sells Forum's Wood Flowline and Phoinix product lines, including swivels, plug valves, relief valves, chokes, pup joints and manifold trailers from three facilities in North, East and West Texas. SVP also performs critical repair and recertification services of these products from its locations as well as from its fleet of mobile units. SVP's customer relationships and service capabilities strengthen Forum's Production and Infrastructure division, which provides completion products, engineered process and production systems, measurement and monitoring systems, construction and field services, and a full range of valve and other flow control products. Terms of the transaction were not disclosed.

Cris Gaut, FET's chairman and chief executive officer, explained the importance of the acquisition. "SVP significantly expands the sales channel and service capabilities for our completion products offering and complements our Wood Flowline and Phoinix completion product offerings. SVP has an excellent reputation in the marketplace for customer service, knowledge and dependability. We are very pleased to partner with Jay Nabors, SVP's founder, and the team at SVP. Our goal is to help expand SVP's business to serve clients across the North American shale plays."

Jay Nabors, President of SVP, commented on becoming part of Forum. "Forum is building a great company with a compelling offering to our pressure pumping customers. We are pleased to become part of an energetic, growing organization."

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Enterprise Products Partners Reports Strong Q1, Revenue Up 19% YoY

Enterprise Products Partners Reports Strong Q1, Revenue Up 19% YoY



May 10, 2011

Enterprise Products Partners L.P. (NYSE:EPD) reported Q1 EPS of $0.49 today, beating the consensus estimate for $0.44 per share. Revenues for the quarter were up 19% year-over-year to $10.18 billion, easily topping the consensus estimate for $8.86 billion.

Michael A. Creel, president and CEO of Enterprise stated, "Enterprise had a record first quarter to begin 2011. Our 50,000-mile system of natural gas, NGL, refined products, crude oil and petrochemical pipelines continues to operate at record or near record volumes. We are continuing to benefit from production growth in the shale regions as well as increased demand for NGLs by the U.S. petrochemical industry and international markets. With few exceptions, the partnership's diversified mix of businesses had another strong quarter."

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Forum Expands Completions Products Position

Forum Expands Completions Products Position

Friday, May 06, 2011
Forum Energy Technologies, Inc.

Forum Energy Technologies, Inc. (FET) announced Thursday the acquisition of Phoinix Global LLC, a leading provider of high pressure flow control equipment and products utilized in hydraulic fracturing and flow back of oil and gas wells.

The company provides a complete product line including fluid ends, plug valves, relief valves, chokes, manifolds, manifold trailers and iron transport trucks from its facility in Alice, Texas. Phoinix's products and services strengthen Forum's Production and Infrastructure division, which provides completion products, engineered process and production systems, measurement and monitoring systems, construction and field services, and a full range of valve and other flow control products. Terms of the transaction were not disclosed.

Cris Gaut, FET's chairman and chief executive officer, explained the importance of the acquisition. "Phoinix Global significantly expands our completion products offering and complements our existing Wood Flowline product offering. Phoinix Global has an excellent reputation in the marketplace for customer service, engineering capability and reliability. We are very pleased to partner with the founders of Phoinix, Wade Pinkston, Scott Reeves, Kirk Baxter, and John Farias. Our goal is to help expand Phoinix' business to serve clients across the North American shale plays."

Wade Pinkston, President of Phoinix Global, commented on becoming a part of Forum. "FET is building a great company, and we are pleased to become part of an energetic, growing organization."
Forum Energy Technologies Inc., headquartered in Houston TX., is a global provider of manufactured equipment and applied products to the energy industry. FET's over 2,200 employees provide the products and technologies essential to solving the increasingly complex challenges of the oil and gas industry.

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Duncan Energy to Merge with Enterprise Products

Duncan Energy to Merge with Enterprise Products



Apr 29, 2011

Duncan Energy and Enterprise Products announced today that both companies are planning a definitive merger agreement. In the merger Duncan Energy will become a wholly-owned subsidiary of Enterprise Products' operating partnership through a unit-for-unit exchange. Based on the cash distributions to be paid on May 6 by both companies, the merger would result in a 32% increase in per unit cash distributions for the unitholders of Duncan Energy. The merger is expected to be immediately accretive in terms of distributable cash flow per common unit of Enterprise PRoducts. Shares of Duncan Energy are up 5.67% to $43.05 while Enterprise Products shares are down 2.53% to $48.25.

Red Spider Launches New Products at Key Industry Events

Red Spider Launches New Products at Key Industry Events

Monday, April 04, 2011
Red Spider

Red Spider is launching two game-changing products to new international markets for the company at key industry events.

The UK-headquartered company recently expanded into the North American market, opening a base in Houston. The company has invested nearly £1.6million in the last quarter in increasing its fleet of products to ensure it can respond to growing customer demand.

eRED, Red Spider's first tool to use its patented remote open close technology for pressure testing applications, has been used in 12 fields. The technology is on its way to becoming the industry standard solution for various downhole applications.

The valve has allowed North Sea operators to save up to £600,000 during a single subsea completion operation, typically reducing slickline runs from 8 to 1. In subsea workover operations savings of up to 41 hours and £500,000 have also been recorded in a single job.
It quickly became apparent from the eRED's continuing success that there were other potential applications for Remote Open Close Technology in the completion of wells. Further customer requests led to around £1.9million of investment and over two years of extensive research and development work which has resulted in the two new products - PowerBall® and the eRED-FB (a completion placement valve).

Red Spider CEO Steve Nicol, who is attending the South African event, said, "There is enormous potential for our products in the US, South America and Africa - a high level of interest has been expressed in all of these regions. Both conferences are excellent forums for us to show our new completions technology to highly-relevant audiences."