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  • Offshore Service & Supply News

    Cameron has agreed to acquire LeTourneau Technologies’ Drilling Systems and Offshore Products divisions from Joy Global, Inc. for about $375 million cash. Closing is scheduled during the 4th quarter of 2011.

     

    Halliburton entered into an agreement to acquire Multi-Chem Group, LLC, a provider of oil field production and completion chemicals and services that address production, processing, and transportation challenges.

     

    GulfMark Offshore, Inc. announced the initiation of an offshore supply vessel construction program. The first three vessels in the program will be built by Remontowa Shipbuilding, SA in Gdansk, Poland. These large, technologically advanced vessels have been designed to meet the demanding requirements for supporting deepwater and harsh-environment activities and are expected to operate in the North Sea market.

     

    Cameron has renewed an agreement with Petrobras for the supply of aftermarket services and support for the Brazilian state oil company’s development projects offshore Brazil. This agreement is a continuation to the CAMSERV aftermarket services contract previously signed in 2007 and is expected to generate more than $150 million in revenue to Cameron over the next three years. Cameron will manage the agreement from its service center in Macae, Brazil.

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  • Offshore Operator News

    Royal Dutch Shell, PLC has awarded Tyco International, Ltd.’s flow control unit an enterprise framework agreement to provide butterfly valves to Shell globally. The five-year agreement covers more than 2,500 of Tyco’s highly engineered butterfly valves for use in projects, maintenance repair operations, and turnaround applications.

     

    Halliburton filed claims against BP, PLC in Texas state court last week for negligent misrepresentation, business disparagement, and defamation related to the April 20, 2010, Macondo rig disaster and subsequent oil spill. Halliburton has also moved to amend its claims against BP in the multi-district litigation in New Orleans, Louisiana, to include fraud.

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  • BP Files Suit Against Transocean

    BP, plc filed suit against Transocean, Ltd. for damages relating to the Macondo oil spill, citing the driller’s “misconduct” as a cause for the disaster. In addition, BP has filed suit against Cameron International Corp., the blow-out preventer manufacturer, and Halliburton Co., the cement contractor on the well. Meanwhile, a report issued by the U.S. Coast Guard cited safety failures on the part of Transocean as a cause of the Deepwater Horizon incident.

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  • FMC Technology Signed Agreement With Norske Shell

    FMC Technologies, Inc. has signed an agreement with Norske Shell for the manufacture and supply of subsea production equipment for the Ormen Lange development project in the North Sea. The contract has a value of about $95 million.

     

    Halliburton has been awarded a contract by ConocoPhillips Company for directional drilling, logging-while-drilling services and surface data logging to help develop the high-temperature Jasmine discovery in the central North Sea.

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  • Several Companies Appoint New Executives

    Bristow Group Inc. announced that Jonathan E. Baliff has been appointed senior vice president and chief financial officer, starting October 11.

     

    Lufkin Industries, Inc. announced that Brian J. Gifford has been named vice president of human resources for the company.

     

    Weatherford International Ltd. announced that two of its subsidiaries, Weatherford International Ltd., a Bermuda exempted company, and Weatherford International, Inc., a Delaware corporation, commenced cash tender offers for up to $700 million aggregate principal amount of specified series of their outstanding senior debt.

     

    Halliburton closed the acquisition of Boots & Coots, Inc. The merger combines Halliburton’s coiled tubing and hydraulic workover operations with Boots & Coots’ well intervention services.

     

    Stewart & Stevenson LLC announced the appointment of John B. Simmons as chief financial officer and as a director of the company.

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  • NOV to Acquire APL

    National Oilwell Varco, Inc. has signed an agreement to acquire Advanced Production and Loading PLC (APL), a subsidiary of BW Offshore, Ltd., for $500 million in cash.  APL designs and manufactures turret mooring systems and other products for floating production, storage, and offloading vessels.

     

    Halliburton anticipates closing the acquisition of Boots & Coots on September 17, assuming that Boots & Coots stockholders approve the transaction at a special meeting scheduled for September 15.

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