Riverstone Completes Acquisition of Seajacks International
Riverstone Holdings LLC’s most recent renewable energy fund has successfully completed its previously announced acquisition of Seajacks International, for a total cash consideration of US$207 million. Seajacks is now wholly-owned by Riverstone and the management team. Seajacks currently owns and operates two self-propelled jack up vessels out of Great Yarmouth in the United Kingdom: the Seajacks...
Saxon Oil Announces Completion of Acquisition of Picogina Holdings B.V.
Saxon Oil Company Ltd report that it has closed the acquisition of Picogina Holdings BV from Energy Ltd. pursuant to the Acquisition Agreement among Energy, Saxon and Saxon Oil Company dated October 21, 2008. The assets of Picogina consist of 100% of the participations of Hidrocarburos del Cantabrico S.L. , a private company incorporated under the laws of Spain, which holds a 100% interest in five...
ION and PGS Sign Fleet-Wide Agreement for Orca
ION Geophysical Corporation announced that its Concept Systems software group has signed a five-year agreement with Petroleum Geo-Services (PGS), one of the leading geophysical companies in the world. The agreement, the largest ever for Concept Systems software, specifies that PGS will upgrade all existing 2D and 3D towed streamer vessels to Orca® command & control in a phased manner and that...
Polarcus Signs Fleet-wide Agreement With ION for Integrated Marine Technologies
ION Geophysical Corporation announced that its Marine Imaging Systems group was awarded a fleet-wide contract by The Polarcus Group of Companies (Polarcus), a new entrant in the marine seismic market with a green philosophy, to equip all six of its new state-of-the-art vessels with four streamer positioning and control technologies from ION’s Intelligent Acquisition(TM) [IA] portfolio. The contract,...
SouthGobi Energy Resources Confirms High Quality Metallurgical Coking Coal at the Mamahak Coal Project in East Kalimantan, Indonesia
Peter Meredith, Chief Executive Officer of SouthGobi Energy Resources Ltd., and Gene Wusaty, Chief Operating Officer, Coal Division, announced today that the company has received independent laboratory analysis of a recent bulk sample that confirms high volatile, high-fluidity metallurgical coking coal at the Mamahak coal project in East Kalimantan, Indonesia. SouthGobi owns 85% of the Mamahak coal...
Todd Shipyards Corporation Announces Ratification of Labor Contract with Metal Trades Council
Todd Shipyards Corporation announced that its wholly owned subsidiary, Todd Pacific Shipyards Corporation, has reached an agreement with the Puget Sound Metal Trades Council for a new five-year collective bargaining agreement. The Agreement was ratified by the employees of Todd by more than a 2-1 margin. Todd’s employees are represented by eleven local unions that negotiate under the umbrella of...
Northern Offshore Announces Drilling Contract
Northern Offshore, Ltd. announced that it has entered into a drilling contract with AGR Peak Well Management Limited, a subsidiary of AGR Group ASA (Oslo Bors: AGR.OL) for the use of the semisubmersible GSF Arctic II in the North Sea. As previously announced, Northern Offshore has entered into an agreement with an affiliate of Transocean, Inc. to acquire the rig and expects to close on the rig purchase...
Enterprise, TEPPCO and Oiltanking Plan Texas Offshore Crude Oil Port and Pipeline System
Enterprise Products Partners L.P. and Oiltanking Holding Americas, Inc. announced they have formed a joint venture to design, construct, own and operate a new Texas offshore crude oil port and pipeline system to facilitate delivery of waterborne crude oil to refining centers along the upper Texas Gulf Coast. The initiative will provide an efficient alternative to offshore lightering and inland dock...
General Maritime Corporation and Arlington Tankers Ltd. to Merge in a Stock-for-Stock Combination, to Create a $2.0 Billion Enterprise Value Company
General Maritime Corporation jointly announced today that they have entered into a definitive agreement whereby the two companies will combine in a stock- for-stock combination. Under the terms of the definitive agreement, approved unanimously by the Boards of Directors of both General Maritime and Arlington Tankers, shareholders of General Maritime will receive 1.340 shares of the combined company...
PGS AWARDED MAJOR NORTH SEA SEISMIC CAMPAIGN FOR STATOILHYDRO
Petroleum Geo-Services ASA has been awarded a contract for a series of seismic surveys to be conducted in the summer of 2009 for StatoilHydro. Four of the Company’s seismic vessels will be involved in the surveys, giving a total contract value of around USD 100 million. StatoilHydro will be the first customer for the Ramform Sterling, PGS’ second new S-Class Ramform vessel, on schedule...
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