Wellogix has raised $8 million in equity from a group of investors led by San Antonio-based First Capital Group. The cash will be used to fund global expansion and software development. First Capital’s Jeffrey Blanchard now has a seat on the Wellogix board. The company also announced the appointment of Thomas Harper as vice chairman and director.
Juan Szabó, Hussein Shehab and Mohamad Idris Mansor been appointed to the advisory board of Stone Bond Technologies. Mansor was previously with Petronas, Szabó with PDVSA and Shehab with Kuwait Oil Co.
OpenSpirit Corp. has appointed Carlos Eiffel Arbex Belem, principle of IES Brazil Consultoria as agent for Brazil.
MRO Software has appointed Terry Ray as Director, Industry Marketing for Oil & Gas. Ray was previously VP Gartner’s Energy & Utilities Industry Advisory Service.
Fugro is to acquire Elcome Surveys Pvt. (India) and has signed a joint venture with Oceansatpeg in Brazil. Elcome has 69 employees, the Oceansatpeg JV of which Fugro holds 62%, 250. Arnold Steenbakker has joined Fugro’s Executive Committee with responsibility for the Onshore Geotechnical business.
The US Energy Department has named Carl Bauer as director of the National Energy Technology Laboratory (NETL).
Liu Xiao Bin has been named VP of Aveva’s new Guangzhou, China-based Process and Power Division.
An Enskilda Securities study found that E&P spending is to rise 15-25% in 2005 and by another 15% in 2006. Worldwide exploration spend as a percentage of E&P fell from around 25% in the late 1990s to 15.5% (a record low) in 2004. It is now coming back and is forecast to exceed $5 billion (17.5%) in 2006 (from).
Geosoft has added Shuttle Radar Topography Mission (SRTM) data sets to its Geosoft DAP public data server. Elevation data is available at 30 meter resolution for the US and at 90 meter resolution for the rest of the world. The near-global scale SRTM data was acquired by The Endeavor Space Shuttle in an 11-day mission in February, 2000.
Divestco has acquired Canamera Corp. and Canamera Equities—collectively known as Drilling Records. The US portion of Drilling Records will be combined with Divestco’s previous acquisition, Petro Data Source. Divestco also acquired Focus Holdings and Investments, a Calgary-based management and technical consulting services provider. Divestco has secured $10 million in new long-term debt financing from Scotiabank unit Roynat Capital. The cash will be used to fund potential asset and share acquisitions and for general corporate purposes.
The Gas Technology Institute (GTI) and the Network of Excellence in Training (NExT) are to partner on a training program for the natural gas industry. NExT is a joint venture between the universities of Heriot-Watt, Texas A&M, Oklahoma and Schlumberger.
In a delayed 10K filing, Silicon Graphics’ (SGI) auditors’ opinion on recurring operational losses, negative cash flows and a stockholders’ deficit raised ‘substantial doubts’ about the company’s ability to continue as a going concern. SGI has retained the services of turnaround firm AlixPartners LLC to advise on ‘further expense reductions, liquidity improvement and other restructuring actions for fiscal 2006’. The company has also secured a $100 million asset-backed facility from Wells Fargo Foothill, Inc. and Ableco Finance LLC.
Energy Solutions International has named Roderick Hayslett CFO. Hayslett was previously with Florida Gas Transmission.
UK-based Peak Group has secured £11 million financing from the Royal Bank of Scotland. The funds will be used to further develop the company’s turnkey multi-well, multi-client programs.
TGS-NOPEC is to acquire Aceca Ltd. for $10 million in cash and $2.5 million in TGS paper. London-based Aceca markets multi-client interpretation studies in northern Europe—distributed with Aceca’s web-enabled Facies Map Browser interface. TGS-NOPEC unit A2D has signed a five year agreement with Chesapeake Energy for unlimited access to A2D’s smartRASTER well log database. Chesapeake also will partner with A2D to expand its LAS log library.
C&C Reservoirs has launched a Structural Analogs Module co-developed with the French Petroleum Institute, IFP.
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