Kobe Steel, Ltd.
Kobe Steel, Ltd. announced that its subsidiary company, Kobelco Machinery do Brasil Servicos Empresariais Ltda., has begun full-scale marketing of nonstandard compressors. Based in Sao Paulo, Kobelco Machinery do Brasil (KMB) is Kobe Steel's first location established in Brazil.
Kobe Steel, also known as Kobelco, is one of the few comprehensive compressor manufacturers in the world that can supply centrifugal, reciprocating, and screw compressors. Kobe Steel has a fifty-percent share of the world market for nonstandard screw compressors and has supplied nonstandard compressors throughout the world for use in oil refining, petrochemical, natural gas, and other large-scale facilities.
Kobe Steel's Machinery Business also supplies a wide range of products such as small and medium-size standard compressors for plant utilities and will consider adding these and other machinery products to the menu of the new marketing company in the future.
In Brazil, Kobe Steel has a high supply record for screw compressors used on FPSO (Floating Production, Storage and Offloading) vessels. These ship-like facilities process oil and gas and store them onboard, after which they are transferred to tankers. Kobe Steel has also supplied numerous centrifugal and reciprocating compressors in South America, increasing the need for after-sales services in the region.
Established in November 2013, KMB recently commenced strengthening its marketing, sales, and after-sales services with aims to expanding Kobe Steel's compressor business in South America and further improving customer satisfaction. Kobe Steel has previously set up locations in China, Southeast Asia, the Middle East, North America, and Europe.
Integrated Drilling Equipment
Integrated Drilling Equipment Holdings Corp. announced the appointment of Jim Terry, 60, as chief executive officer, effective immediately. Mr. Terry replaces the former CEO, Stephen Cope, who resigned in April of this year. Effective with his CEO appointment, Mr. Terry will also become a member of IDE's Board of Directors.
Prior to his appointment, Jim Terry was the CEO and President of Particle Drilling Technologies ("PDT"). PDT is a manufacturer of innovative well drilling bits and surface equipment used in drilling hard rock formations. This technology allowed the well driller to cut through hard rock formations up to 6X faster than conventional drill bits. Prior to PDT, Mr. Terry was the Vice President of Drilling Services at Weatherford International from 2002 to 2006. From 1993 to 2002, Mr. Terry was at Halliburton Company in increasingly responsible roles. Prior to Halliburton, Mr. Terry was an executive with Smith International and Baker Hughes. Jim Terry resides in Houston, Texas and holds a BA in Business from San Francisco State University.
IDE and its predecessor companies have been active in providing services and products to the drilling industry since 1981. IDE's principal service and product offerings consist of the design, engineering and construction of new land and offshore rigs based on IDE designs or modified to customers' specifications; providing extensive reconfiguration and refurbishment services for rigs to repair and/or extend their life or to adapt them for different drilling environments; providing rig upgrade packages, refurbishment services, and related components for land and offshore new build rigs; supplying integrated electrical and hydraulic control systems for a wide range of land and offshore drilling rigs; and providing engineered hydraulic rig solutions.
Claxton
Claxton Engineering Services, an Acteon company, has appointed Martin Jolley as vice president sales and commercial to spearhead its global sales and commercial strategy.
Providing leadership and vision to direct the company's sales, marketing, commercial and tendering divisions, Jolley will be based in Claxton's UK head office, overseeing commercial development aimed at expanding the business worldwide.
Jolley's appointment underlines Claxton's commitment to global expansion and growth of operations. Claxton recently secured its biggest ever riser contract - for the development of the Hanz field, offshore Norway.
Jolley, who has a master's degree in industrial economics and a degree in engineering science, was previously business development director for Camellia plc., where he was responsible for AKD Engineering Ltd and five other companies within the Camellia group.
Claxton holds one of the largest stocks of subsea risers with a wide array of bore, pressure and complete system options. The company has also pioneered rigless well abandonment operations and has installed approximately 5,000 structural centralizers globally.
Claxton, an Acteon company, is the leading supplier of engineering and services for shallow-water, jackup-depth markets. Acteon companies provide mooring, foundation, riser, conductor, flowline and marine electronics products and services supported by strong engineering and project management capabilities.
KBC
KBC Advanced Technologies plc ("KBC" or "the Group") announced that it has purchased FEESA Ltd ("FEESA"), a leading UK-based provider of specialized software and services to the upstream oil and gas industry, for an enterprise value of £10 million plus one million KBC shares, totaling £11.2 million.
The acquisition of FEESA marks the next step in KBC's growth strategy to expand into the upstream oil and gas industry. The transaction allows KBC to offer profit improvement and business transformation programmes, underpinned by technology, across the full hydrocarbon value chain. FEESA's Maximus™ software, when integrated with KBC's Multiflash™ and Petro-SIM Production™ technologies, completes the KBC software simulation suite from reservoir through to refinery.
FEESA brings to KBC a leading position in the provision of specialized software and consulting for the development and production segments of the upstream oil and gas industry. Its Maximus software is a well-established oil and gas well bore and production pipeline modelling system and is accompanied by an expert flow assurance consulting team that has helped leading operators in the world solve complicated production challenges.
Simple integration of KBC's platform with Maximus which uses KBC's Multiflash PVT engine for its component and chemistry predictions, has been further integrated with KBC's Petro-SIM Production simulator to provide life cycle value through wells, pipelines and processing facilities.
The combination of KBC's and FEESA's technologies and consulting allows an oilfield service company or an upstream operator to understand the full impact of changes within reservoir management and production optimization programs in order to achieve improved efficiency in field development.
The acquisition has been funded from the Group's recent equity placing and is expected to be earnings enhancing for the Group in the first full year of ownership. The cash consideration for the acquisition is £10 million, payable on completion. The equity consideration for the acquisition is one million (1,000,000) new ordinary shares in KBC ranking equally with the existing share capital of KBC. Half of these consideration shares are subject to selling restrictions for 12 months from the date of acquisition with the remainder restricted for a further 12 months.
Flowrox
Flowrox, a global leader in heavy-duty industrial valve, pumps and instrumentation manufacturing and service, is releasing to the Oil & Gas market the Flowrox Deposition Watch-a new instrument designed to enhance the monitoring of pipelines and related flow-process equipment affected by paraffin wax and asphaltene depositions.
The Flowrox Deposition Watch is a predictive device, as opposed to reactive solutions offered by competitors, allowing its operators to address deposition issues well before these reach critical levels that can cause downtime or costly damage.
Crude oil contains a variety of molecular substances that challenge the Oil & Gas companies with the buildup of paraffin wax when it crystallizes into a solid deposition on the pipe wall-along with the accumulation of asphaletene-which can altogether reduce the fluid flow or plug pipes and valves.
The deposition of paraffin wax and asphaltenes is a common reason for a major decrease in production and revenue in oil wells as it affects valves, pumps and pipelines, along with other pipeline components critical to the fluid control process.
The Flowrox Deposition Watch was developed specifically for use in the Oil & Gas industry since this instrument will allow customers to generate real-time images of any depositions affecting a piping system-without ever having to open up the pipeline and slow down production.
Using the Flowrox Deposition Watch will allow the industry to make better decisions regarding when to add chemicals and the frequency of addition of these expensive chemicals for treatment of depositions, as well as allowing them to make better decisions regarding when to disassemble a pipeline for manual cleaning.
The cost of an unplanned shutdown due to deposits has the potential for becoming a catastrophic event in the operation, and thus engineers and operators tend to overfeed chemicals to cleanse depositions or schedule more physical cleanings of the pipeline than necessary.
The Flowrox Deposition Watch utilizes electrical capacitance tomography (ECT) to create real time images of the inside of the piping and uses electrical capacitance tomography to detect the differences in permittivity of the various substances found in the piping system.
In addition, the Flowrox Deposition Watch utilizes a patented algorithm that creates a 3D image of the process fluid in the piping and generates trend data as well as show free volume inside the pipe and the growth rate of the deposition growth over time.
Ultimately, the Flowrox Deposition Watch can show its operators the deposition thickness, deposition profile, growth rates over time, composition, and free flow volume-all of which allow engineers to understand areas where pipes are prone to these damaging deposits.
Halliburton
Halliburton (NYSE: HAL) announced the promotion of Jeff Miller, currently the company's executive vice president and chief operating officer, to president and his appointment to the Halliburton Board of Directors both effective August 1, 2014. In this new role, Miller will complement the leadership of Dave Lesar, Halliburton's chairman and chief executive officer.
Miller has served as Halliburton's executive vice president and COO since 2012, working with the company's senior management team in developing and executing operational strategy and ensuring that the company's short- and long-term focus is aligned with its strategy. He began his career at Halliburton in 1997 and has held various senior management roles in the company's global operations and business development.
Miller holds a Bachelor of Science degree from McNeese State University, and has a Master of Business Administration degree from Texas A&M University. He is a certified public accountant and a member of the Texas A&M University Dwight Look College of Engineering Advisory Council.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 80,000 employees, representing 140 nationalities in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.
Western Refining Logistics
Western Refining Logistics, LP (NYSE:WNRL) announced that Andrew L. Atterbury has been appointed as a member of the Western Refining Logistics GP, LLC Board of Directors effective July 9, 2014, increasing the Board from five to six members. Mr. Atterbury will serve on the Board's Audit and Conflicts committees. Mr. Atterbury, 40, currently serves as the President of Bowood Capital Advisors, LLC. From 2002 through 2011 Mr. Atterbury held various positions at Inergy, LP and Inergy Holdings, LP, serving as Senior Vice President - Corporate Development from 2007 through 2011. From 1999 to 2001, Mr. Atterbury worked in the Corporate Development Group of Kinder Morgan, Inc. and Kinder Morgan Energy Partners, L.P. Western Refining Logistics, LP is a fee-based, growth-oriented master limited partnership formed by Western Refining, Inc. (NYSE:WNR) to own, operate, develop, and acquire terminals, storage tanks, pipelines and other logistics assets related to the terminalling, transportation and storage of crude oil and refined products. Headquartered in El Paso, Texas, WNRL's assets include approximately 300 miles of pipelines, approximately 7.9 million barrels of active storage capacity, and other assets in the Southwest US.
ACD
ACD, a Cryogenic Industries Company, successfully passed its First Article Test (FAT) of the world's first LNG fuel gas pump system for TOTE's LNG-Powered Containerships.
ACD's LNG fuel gas pump system (MSP-3SLH, Dual) will be installed and fuel TOTE's Marlin Class containerships which will be the first LNG-powered containerships in the world and operate between Jacksonville, FL and San Juan P.R. The containerships will be ABS classified.
The FAT included full performance at the ship's rated LNG fuel flow requirements from maneuvering to full-speed conditions. The system achieved 320 bar (4,640 psi) at flow rates from 1.4 m3/h to 11 m3/h (6 gpm to 48 gpm). ABS, USCG, TOTE, Shinhan Machinery (DSME subsidiary) and NASSCO (General Dynamics - shipyard) were in attendance and witnessed the testing. ABS approved the LNG fuel gas pump system. USCG has already approved ACD's MSP-3SLH design using hydraulic motors for the high pressure pumps and the oil lube system. Included in ACD's scope was powering the MSP-SLH dual system with an external HPU, which was also used and approved during the FAT.
The high pressure LNG fuel supply system includes two ACD model MSP-3SLH high pressure pumps with hydraulic motors and HPU. Also included is an external oil lubrication system all integrated on a common skid with piping, high & low pressure control valves and all monitoring equipment.
Weatherford
Weatherford International plc (NYSE: WFT) announced the appointment of Ms. Dianne B. Ralston as Executive Vice President, General Counsel and Corporate Secretary. Ms. Ralston joins Weatherford with more than 20 years of combined legal, compliance, and contractual experience in the oil and gas industry, including working for Schlumberger in a variety of roles since 1998. Her most recent positions with Schlumberger were of Deputy General Counsel, Corporate, as well as Deputy General Counsel, Government Affairs and Litigation. Ms. Ralston also acted as Director of Compliance, responsible for the development and management of Schlumberger's global corporate Ethics and Compliance Program. Ms. Ralston holds a B.B.A. from Texas A&M University and a Juris Doctorate from the University of Houston School of Law. She will report directly to Mr. Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer.
With this appointment, Weatherford will merge the Company's legal and compliance departments under Ms. Ralston, ensuring best practices in legal and compliance activities while securing a more efficient and effective organizational structure. With the resolution of Weatherford's legacy issues, this consolidation is a natural step forward in corporate governance.
Mr. William B. Jacobson, Senior Vice President, Co-General Counsel and Chief Compliance Officer of Weatherford, will be stepping down and leaving the Company to pursue other opportunities. During his five year tenure at Weatherford, Mr. Jacobson established a comprehensive best-in-class compliance program. Mr. Alejandro Cestero, Vice President, Co-General Counsel and Corporate Secretary of Weatherford, will also be leaving the Company effective July 31, 2014 to pursue other opportunities. Weatherford thanks both Mr. Jacobson and Mr. Cestero for their dedicated service, and is grateful for their many contributions to Weatherford's progression.
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company's product and service portfolio spans the lifecycle of the well and includes Well Construction, Formation Evaluation, Completion and Artificial Lift.
CH2M HILL
CH2M Hill announced today that Gary L. McArthur will join the firm as Executive Vice President and Chief Financial Officer. Mr. McArthur will assume his new responsibilities effective August 4, 2014.
Mr. McArthur joins CH2M HILL from Harris Corporation where he served as Chief Financial Officer since 2006, and in various other financial positions since 1997. Mr. McArthur comes to CH2M HILL with extensive experience in highly technical and program-centric industries with specific experience in leading a global finance organization, overseeing accounting, treasury, tax, corporate development, risk management, banking, audit, global shared services and investor relations.
