ABL Group ASA is to acquire energy and engineering consultancy Add Energy, adding expertise in operations, digital optimization, carbon storage and energy efficiency to its service offering. The deal adds some 140 consultants to the group’s global team.
Matt Hall has decided to close Agile Scientific following ‘12 years of consulting, teaching, writing, and hacking’. Hall is taking a position as software developer with Equinor where he will be contributing to Equinor’s ‘inspiring’ open source software program. Agile’s Software Underground community of digital subsurface professionals lives on.
Capital Consulting International (a Rimkus unit) has acquired Manchester, UK-based Hargreaves Jones, a commercial and project management consultancy serving the oil and gas and other verticals. The acquisition progresses CCi’s offering in commercial and project management services to clients engaged in construction and engineering activities on infrastructure projects.
Toronto-headquartered CGI is in the process of acquiring Umanis, a French provider of data, digital and business solutions in a €310 million transaction. Digital transformation specialist Umanis’ 3,000 consultants work in big data and AI, infrastructure and cloud and BPO, leveraging methodologies including ‘DevSecOps’, at-scale Agile and ‘Think, build run’ in energy and other sectors.
Cathedral Energy Services has closed its acquisition of Altitude Energy Partners for a total consideration of approximately $100 million. The acquisition positions Cathedral as a leading independent directional drilling company in the and adds rotary steerable technology to its portfolio.
Global institutional energy and infrastructure investor EIG has signed a memorandum of understanding with Aramco to collaborate on future energy projects. The MoU targets existing and new technologies such as alternative fuels, carbon capture, hydrogen and natural gas, transportation, and energy storage. The agreement follows last year’s $12.4 billion investment from an international consortium led by EIG, involving the lease and leaseback of oil pipeline infrastructure from Aramco.
Helix Energy Solutions has acquired all of the equity interests of the Alliance group of companies expanding its decommissioning presence in the Gulf of Mexico and ‘advancing Helix’s environmental, social and governance initiatives by responsibly supporting end-of-life requirements of oil and gas projects’.
ProFrac Holding Corp. is to acquire US Well Services in a stock-for-stock transaction. The deal expands ProFrac’s fleet to 44 active units including electric, dual fuel and diesel fleets. The combined company is will the largest provider of electric frac services with 12 electric fleets. The deal represents an ‘aggregate stock consideration’ of approximately $93 million.
Troubled Chinese oil field service company Recon Technology has provided an update to investors. Recon is China’s first NASDAQ-listed non-state owned oil and gas field service company. Earlier this year, president Yongquan Bi resigned and the share price sunk below one dollar. Thanks to a rising oil price the company reports ongoing revenue growth and expects to achieve ‘an average annual growth rate of 30% in the next three fiscal years’.
Energy-focused private equity unit SCF Partners have invested in pipeline maintenance and integrity specialist T.D. Williamson. The deal combines TDW’s brand and technology with SCF’s ‘deep’ financial and strategic expertise.
The US bankruptcy court has selected CGG’s Sercel equipment manufacturing unit as the ‘successful bidder’ for the acquisition of ION Geophysical Corp.’s software business. The acquisition is expected to close in the third or fourth quarter of 2022.
Stanley Black & Decker is selling its oil and gas business to Pipeline Technique International. The deal covers Stanley’s pipeline services and equipment businesses including CRC-Evans Pipeline, Pipeline Induction Heat Ltd. and Stanley Inspection, all of which generated revenues of approximately $140 million in 2021. As a result of the sale, Stanley expects a charge of approximately $125 to $200 million relating to the write-down its oil and gas net assets.
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