Done deals

Epoch, Canrig, Satyam, Geospatial Holdings, SGI, Getech, Schlumberger, Helix, Emerson, more...

Epoch Well Services has merged with Canrig to create a drilling technology company offering a range of drilling hardware and software products and services. The new company, named Canrig Drilling Technology is headquartered in Houston.

Satyam Computer Services chairman Ramalinga Raju has left the company after admitting a $1 billion hole in the company’s balance sheet which was ‘riddled with fictitious assets and non existent cash.’

Geospatial Holdings is to acquire Reduct NV from current owner, Delta Networks. Belgium-based Reduct develops underground pipeline mapping technologies including the ‘DuctRunner’ smart probe pipeline mapper.

Silicon Graphics, Inc. has received a delisting notification from Nasdaq as its market value has fallen below the minimum $35 million requirement.

Getech has acquired the assets of Lisle Gravity of Denver, CO. These include over 3 million onshore US gravity stations.

Gazprom has signed an advanced technology framework agreement with Schlumberger to enhance the efficiency of exploration and development for hydrocarbon resources. The agreement covers Gazprom fields in Russia and worldwide.

Helix Energy Solutions is to refocus its activity on deepwater construction and well intervention services and is to divest its oil and gas assets and its 58% share in Cal Dive International.

Reservoir Exploration Technology (RXT) ASA is going public with the issue of up to 2,156,250 shares at NOK 6.40 and 276,000 bonds at NOK 100 for potential gross proceeds of NOK 13.8 million in equity (share capital and premium) and NOK 27.6 million in bond loan. Oslo-based RXT specializes in multi component seismic seafloor acquisition.

Rockwell Collins has acquired high end visual display solutions provider SEOS which will become part of Rockwell’s Simulation and Training Solutions organization.

Emerson has acquired Bay-Tec Engineering of Napa, CA, expanding its services offering in the design, engineering and implementation of process automation systems for the life sciences, refining, and other industries. Bay-Tec’s expertise covers a wide range of process automation technologies including digital automation systems, safety instrumented systems, programmable logic controllers, human machine interfaces and advanced control applications.

Weatherford is to ‘Redomesticate’ from its current Bermuda corporate location to Switzerland in early 2009.

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