Done deals

Petroware/Logtek, JWitsml, CB&I, Veritas Capital, EcoStim, Fir Tree, Amec Foster Wheeler.

Startup Petroware AS (a subsidiary of Logtek AS) has acquired The latter’s Log Studio platform provides digital well log management functions including read/write access of WITSML 1.3 and 1.4. Petroware is interested in collaborating with organizations operating Witsml 2.0 test servers to continue its work on the JWitsml sub-component.

Private equity unit Veritas Capital has signed a definitive agreement to acquire the capital services business of CB&I for $755 million.

EcoStim Energy Solutions has received a $17 million cash injection from private investment unit Fir Tree Partners. The transaction represents a ‘potential equitization of substantially all of the company’s debt,’ avoiding defaults.

Prior to its acquisition by Wood Group (page 1), Amec Foster Wheeler reported progress on its ‘non-core’ disposal program with aggregate proceeds of £246 million forecast by end of Q2.

This article originally appeared in Oil IT Journal 2017 Issue # 3.

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