Cameron has closed on its purchase of LeTourneau Technologies Drillings Systems and Offshore Products divisions from Joy Global, Inc. for approximately $375 million in cash.

 

EMAS AMC has been awarded a contract by BP Exploration & Production, Inc. to perform subsea work in the Atlantis field located in Green Canyon 743. The project scope consists of the installation and replacement of subsea equipment comprised of manifolds, jumpers and associated hardware in 6,800 feet of water, as well as assisting BP with complete commissioning and start-up activities.

 

Cal Dive International, Inc. has been awarded a $27 million contract by Pemex for the installation of an 8 inch subsea pipeline located in the Abkatun Field. The offshore construction is expected to commence in April 2012.

Reports are that Rowan Companies newbuild jackup Rowan EXL-IV may have a signed contract in place by the end of this week. While the potential customer is not known, market intelligence indicates Apache Corporation could be the operator getting the rig. The LeTourneau Super 116-E design rig, delivered from the Keppel AmFELS yard in Brownsville, Texas, on September 1, is currently undergoing systems testing while waiting on work and is expected to leave the yard in October.

 

Hall-Houston Exploration finally received its permit and now has jackup Hercules 212 on location in High Island Block 205. The ADTI turnkey well is expected to take around 30 days to complete. Meanwhile, jackup Hercules 214 has wrapped up operations for Apache Corporation in Main Pass Block 69 and is now on standby while it waits for its next contract to begin. That work will be for Phoenix Exploration Company, LP in nearby Main Pass Block 59 on a job that was switched from jackup Hercules 253. That rig is also on standby in West Cameron Block 38 while it waits to begin a threewell, 120-day contract with Hall-Houston, now expected to be in early October. Tana Exploration Company, LLC will then ...

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.

Joy Global, Inc. has completed the acquisition of LeTourneau Technologies, Inc. from Rowan Companies, Inc. for $1.1 billion in cash. LeTourneau is a leader in the manufacture of jackup rigs and ancillary equipment for the oil and gas drilling industries, among other lines of business.

Rowan Companies, Inc. has entered into a share purchase agreement with Joy Global, Inc., a worldwide leader in high-productivity mining solutions, to sell all shares of common stock held by Rowan in LeTourneau Technologies, Inc. for $1.1 billion in cash. The agreement is subject only to regulatory approval, which the company expects to obtain within 60 days.