ABL Group has acquired the operations of well control equipment specialists Hose International.
Cathedral Energy Services has acquired the operating assets and personnel of Ensign’s Canadian directional drilling business in a CAN$5.0 million deal financed with a share issuance by Cathedral to Ensign.
Shareholders of North American MWD specialist Gordon Technologies have each sold 25% of their equity to Alpha Dhabi Holding in an all-cash deal.
Hexagon has acquired AI-powered BIM (building information modelling) specialist Avvir whose design-vs-reality analysis platform is to integrate Hexagon’s BIM and virtual design and construction solutions.
Shell and ExxonMobil chemicals joint venture Infineum is acquiring Entegris’ pipeline and industrial materials business
Mesquite Technologies has acquired artificial lift and production optimization software company OspreyData. The software will integrate Mesquite’s ‘Taproot’ line of AI-powered control equipment.
ProFrac has acquired US Well Services in a stock-for-stock merger transaction valuing the deal at approximately $270 million.
In a recent virtual investor call, troubled Chinese oil service company Recon Technology informed shareholders that most all of its revenue comes from its Chinese operations. Its Future Gas Station app currently generates revenues of $1-1.5 million per year. Recon’s business has been negatively affected by China’s national policies ‘that discourage the development of platform companies’. The company also announced that it has regained compliance with Nasdaq’s continued listing requirements and that it has a $47 million cash position.
Oil and gas automation specialist Sensia, a Rockwell Automation and Schlumberger joint venture, has acquired Swinton Technology, a provider of oil and gas measurement and metering supervisory systems.
Copenhagen-based ZeroNorth has acquired Prosmar Bunkering AS, an online platform supporting the bunker fuel market. Prosmar’s Bunker Dashboard solution and Bunker Pricer module are included in the deal. Prosmar Risk and Prosmar Price Matrix are not. Earlier this year ZeroNorth raised $50 million in capital.
mCloud has received a written notification from the Nasdaq indicating that its market value over the past 30 days was below the required minimum of $35 million for continued listing. The company has 180 days te rectify the situation.
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