Done Deals

Innovation Norway, Badger Explorer, Dirivera, Forbes Energy Services, GeoDigital International, Powel, IDOX, Sword Group, Lufkin Industries, Quinn’s, Maxim Partners, Pipe Maintenance, P2 Energy Solutions, Beyond Compliance, Technip, Genesis, TerraSpark, Lime Rock, Recon Technology.

Innovation Norway has awarded a ‘public grant’ of 20 million NOK toward Badger Explorer’s autonomous drilling demonstration program.

Dirivera Investments is to acquire ‘substantially all’ of Forbes Energy Services’ assets in Mexico for $30 million cash.

GeoDigital International has purchased the US assets of Norwegian Powel AS.

McLaren Software’s parent company, UK based IDOX plc., has acquired CTSpace from the Sword Group.

Lufkin Industries has completed its acquisition of the assets of Quinn’s Oilfield Supply Ltd. for $311 million in cash. Lufkin also completed a $350 million term to finance the acquisition.

Maxim Partners has acquired Pipe Maintenance, a provider of inspection, repair, maintenance and asset management services for oil country tubular goods and down-hole tools.

P2 Energy Solutions has acquired Beyond Compliance, a provider of hosted compliance management solutions, notably its Integrated Compliance Management System suite.

Technip has consolidated its wholly owned subsidiary Genesis Oil and Gas Consultants with its Houston-based deepwater engineering team into a new unit, ‘Genesis,’ now with 1,000 engineers in Houston, London, Aberdeen, and Perth.

TerraSpark Geosciences has received an additional $4 million capital injection from Lime Rock Partners. The monies will serve to ‘accelerate growth in the seismic interpretation marketplace.’ Lime Rock’s total commitment now stands at $10 million.

Following the reception of a second ‘Nasdaq letter’ last month as a result of its failure to file a 10-Q for the three months ended September 30, 2011, Recon Technology has engaged Friedman LLP as auditor, replacing Marcum Bernstein & Pinchuk (MBP). Recon states, ‘There have been no disagreements with MBP on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures.’

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.