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  • Offshore Service & Supply News

    Hornbeck Offshore Services, Inc. has awarded contracts to VT Halter Marine, Inc. of Pascagoula, Mississippi, and Eastern Shipbuilding Group, Inc. of Panama City, Florida, for the construction of 16 highspecification offshore supply vessels, in connection with its latest newbuild construction program announced on November 7. Each yard will build eight 300-class vessels, and the contracts include options to build additional units.


    Technip SA has formed a new worldwide consultancy, a subsea and offshore engineering services company. This new company is a combination of Technip’s wholly owned subsidiary Genesis Oil and Gas Consultants and the deepwater engineering team of Technip in Houston. The newly formed organization, called Genesis, will have major offices in Houston, London, Aberdeen, and Perth.


    Oceaneering International, Inc.’s board of directors has elected David K. Lawrence as Vice-President, General Counsel, and Secretary, effective January 1, 2012.


    National Oilwell Varco, Inc. announced that Loren Singletary has been promoted to Vice-President, Investor and Industry Relations, and David Reid has been promoted to Senior Vice-President of Global Accounts and Chief Sales Officer.


    Daewoo Shipbuilding & Marine Engineering (DSME) of South Korea has awarded a $6 million order to Rockwell Automation to provide emergency shutdown, fire and gas safety systems, and engineering ...

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  • Offshore Service & Supply News

    Hornbeck Offshore Services, Inc. has increased the size of its previously announced underwritten public offering of its common stock from 6,750,000 shares to 7,000,000 shares and priced the offering of $30.00 per share, for total gross proceeds of $210 million. The company intends to use the net proceeds from the offering to partially fund its latest newbuild construction program comprised of new generation offshore supply vessels, which was announced on November 7, 2011. In addition, the proceeds may be used in connection with possible future acquisitions and new vessel construction, as well as for general corporate purposes.


    Forum Energy Technologies, Inc. signed an exclusive five-year supply agreement with Canyon Offshore, Inc. Under the agreement, Forum will be the exclusive provider to Canyon of work-class ROVs and trenchers.


    Technip was awarded a subsea tie-back contract by Lundin Petroleum AB for the Brynhild field development. This field, previously known as Nemo, is located in the Norwegian North Sea.

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  • Global Industries Enters Merger with Technip

    Global Industries, Ltd. has entered into a merger agreement with Technip under which Technip will acquire Global in an all cash merger. Under the terms of the agreement, Global stockholders will receive $8.00 in cash for each share of Global’s common stock. The transaction values Global at an enterprise value of approximately $1,073 million, including Global’s approximately $136 million of net debt. The $8.00 per share acquisition price represents a 55 percent premium to Global’s closing share price on September 9.

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  • Offshore Operator News

    Anadarko Petroleum Corporation has issued a letter of intent to Technip for the engineering, construction, and transport of a 23,000 ton truss spar hull for its Lucius field development in the GOM’s Keathley Canyon area. This field is located in approximately 7,100 feet of water. The letter of intent allows Technip to begin preliminary work on the project, including purchase of long-lead items for the hull in advance of the planned sanction date of December 2011.

     

    BHP Billiton, a significant player in the deepwater Gulf of Mexico, announced that all conditions have been satisfied surrounding the closing of the tender offer to acquire all outstanding shares of the common stock of leading onshore independent Petrohawk Energy Corporation for $38.75 per share.

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  • Offshore Operator News

    ATP Oil & Gas Corporation has priced a public offering of 1,500,000 shares of Series B 8.00% convertible perpetual preferred stock. The company has also granted a 30-day option to the underwriters to purchase about 225,000 additional shares of convertible perpetual preferred stock to cover any over-allotments. ATP is using a portion of the net proceeds of this offering to buy a capped call transaction.

     

    Endeavour Energy UK, Ltd. awarded Technip an engineering, procurement, and construction contract worth about $100 million for the East Rochelle oil field development in the U.K. North Sea.

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  • Cameron Received Order from Petrobras

    Cameron has received an order from Petrobras for 27 subsea trees and related equipment, worth approximately $74 million, for use in their developments offshore Brazil. The order represents the remaining trees under a 138-tree frame agreement announced in September 2009.

     

    Technip was awarded a contract by Chevron NorthAmerica Exploration and Production for the development of the Jack & St. Malo fields, located in the Walker Ridge area at a water depth of approximately 7,000 feet. The contract covers the engineering, fabrication and subsea installation of flowlines, steel catenary risers, pipeline end terminations, manifolds, pump stations and tie-in skids.

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