American Energy Partners has acquired Hickman Geological Consulting in exchange for 40,500,000 AEP’s preferred shares (approx. 5% of outstanding common stock). The deal is said to be ‘one of a series of acquisitions planned for the future’ and the beginning of AEP’s ‘buy and build’ strategy.
Aspen Technology has acquired Mnubo, a Montreal-based provider of artificial intelligence and analytics infrastructure for the internet of things. AspenTech also recently acquired Sabisu, a UK-based specialist in visualization and workflow solutions for real-time decision support.
The Canadian Competition Bureau has come to an agreement with Thoma Bravo in respect of ‘competition concerns’ over its acquisition of Aucerna (previously 3esi-Enersight). The Bureau found that the transaction resulted in monopoly supply of oil and gas reserves valuation and reporting software to medium and large producers in Canada. The agreement means that Thoma Bravo is to sell Quorum’s Mosaic business to an ‘acceptable’ purchaser that will preserve competition. San Francisco-headquartered Thoma Bravo is a private equity investment firm. Its Calgary-based Aucerna markets the ValNav reserves software. In a separate deal, Quorum Software (another Thoma Bravo unit) has acquired Archeio Technologies, a provider of oil and gas document classification and ‘smart search’ technology. The acquisition expands Quorum’s software and services with a cloud-based document management tool.
Drilling Tools International has acquired WellFence a provider of patented data automation systems and credentialed wellsite access services for drilling and production locations. WellFence deploys check point towers with 360° cameras to monitor personnel entering and exiting a wellsite. DTI is majority-owned by Hicks Equity Partners, a Dallas-based family office investment group.
Emerson has acquired Calgary-based Zedi’s software and automation businesses. Zedi’s cloud-based scada platform augments Emerson’s portfolio of automation technologies. The technology currently monitors over two million sensors and ‘thousands of devices and applications’.
MicroSeismic has spun-out ‘FracRx’, a data analytics company that serves unconventional upstream operators. FracRx is said to be the ‘formalization’ of MicroSeismic’s data analytics and synthesis platform that integrates multi-physics data in a ‘prescriptive solution’ for improved economics, completion optimization and risk mitigation. MSI continue to operate as a geophysical company that acquires and images microseismic data.
Endeavor Business Media has acquired multiple PennWell operating units from the previous owner Clarion Events, including the PNEC E&P data management conference.
Halliburton has acquired the Promore downhole pressure gauge business. The permanent well monitoring systems will integrate Halliburton’s Intelligent Completions group.
Sure Shot Holdings (the parent company of Sure Shot Drilling) has acquired four Colorado-based utility service companies: DrillTech Directional Services, Pinnacle Development, BAS Rentals, and A to Z Cable Construction.
TechnipFMC is to ‘demerge*’ into two units ‘RemainCo’, a technology and services provider incorporated in the UK with headquarters in Houston and ‘SpinCo’, a spin-off of TechnipFMC’s onshore/offshore segment that will be headquartered in Paris, France.
* Paris-based Technip merged with Houston-based FMC in 2017.
Terra Drone Corp. has acquired RoNik Inspectioneering, a Dutch provider of visual and ultrasonic inspections using wireless robotics. RoNik Inspectioneering will be renamed Terra Inspectioneering. The company will focus on the inspection of industrial, hazardous, and enclosed spaces, such as storage tanks, boilers, super heaters, furnaces, stacks, pipelines and more.
TGS-Nopec has acquired Spectrum ASA in a cash and paper deal that puts a $422 million value on Spectrum.
The Weir Group has sold its Weir Flow Control unit to First Reserve, a private equity investment firm ‘exclusively focused on energy’. The unit will henceforth operate as Trillium Flow Technologies.
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