A new international offshore contracting giant, with a market cap above $5.5 billion, backlog of $5.3 billion and over 12,000 employees, came into being last month with the combination of Acergy SA and Subsea 7 Inc. Meg Chesshyre looks at the rationale behind this high-profile marriage…
Marathon Oil is spinning off its downstream business to create the upstream Marathon Oil Corporation, to be based in Houston, and the downstream Marathon Petroleum Corporation, based in Ohio. Marathon Oil will operate and report through three segments: exploration & production…
Field development prospects on the UK Continental Shelf are gathering momentum again, with Nexen (Golden Eagle, Blackbird), Chrysaor (Solan) and BG (Blake increased production) firming up North Sea project and environmental impact details in recent weeks…
Companies across the offshore supply spectrum used the recent downturn to take stock – either out of necessity or for strategic reasons – in order to reposition themselves for when the upturn finally kicked in. OE looks at one such company,…
Data fetchingCoastal Flow Measurement has announced a new leasing program for its BirdDog Remote data Retrieval System, which provides access to information from monitored remote locations through a web interface as well as BirdDog Morning Reports delivered daily via e-mail…
Russell McCulley reviews recent developments and talking points in the offshore communications arena.Florida-based Harris Corporation followed its summer 2010, $525 million acquisition of CapRock Communications with the purchase of Schlumberger's Global Connectivity Services (GCS) in November…
The Oil Council's recent World Energy Capital assembly in London shone a light on the new generation of smaller companies from disparate backgrounds now beginning to make their presence felt on the international exploration and production stage…
Merger and acquisition activity in the US oil & gas sector picked up steam 3Q 2010, despite ongoing uncertainty about business in the Gulf of Mexico, reported PricewaterhouseCoopers.For the three-month period ending 30 September, there were…
Things are stirring on the UK continental shelf if the attendance at last month’s Pilot Share Fair in Aberdeen is anything to go by. More than 1000 people, including Meg Chesshyre, turned out to hear from major operators and contractors about their strategies for future North Sea projects…
Global upstream capital spending should rebound this year, according to IHS Herold director Nicholas Cacchione, author of the research firm’s 2010 Global Upstream Performance Review, released last month. ‘In North America, E&P investment increased 30% in the first half of 2010…
There were echoes of the UK’s Dragon’s Den and its US reality TV brethren Shark Tank when the great and the good of the private equity world gathered in Aberdeen last month to sample the wares of would-be oil & gas sector high fliers.The occasion…
Current projections indicate around £27 billion will be spent on UK offshore decommissioning over the next 40 years, of which £9.2 billion will be spent over this next decade, according to a 2010 Decommissioning Insight brochure presented at the conference by Robert Harris-Deans…
Schlumberger wrapped up its $11 billion purchase of Smith International at the end of August. Andrew Gould, chairman and CEO of Schlumberger, commented: ‘We are ready to begin the process of realizing the synergies made possible by this merger…
All dressed up and nowhere to go is never a good feeling. But that's exactly what has just happened to − of all companies − TGSNopec. The acknowledged maestro of the multiclient seismic survey business last month put out a terse statement that…
One or two recent asides from major seismic contractor bosses implies that they expect that the global seismic fleet to move closer to some kind of equilibrium next year where the supply of vessels is no longer so out of kilter with the demand for survey work…
Subscribe
