GE Oil & Gas
GE Oil & Gas and Enpro Subsea announced an agreement to jointly market and provide fluid intervention services that offer oil and gas operators a cost-effective way to improve production rates in producing wells.
The liquid intervention offering that the GE Oil & Gas and Enpro Subsea partnership brings to market is a cost-effective way to deliver services such as scale removal, which can have a significant positive impact on well production rate.
The companies have signed a Memorandum of Understanding to jointly market, sell and operate technology and services related to fluid intervention. The non-exclusive partnership is already in operation in key strategic regions, including West Africa.
The partnership is a further example of GE Oil & Gas' drive to grow its 'life of field' service business by investing in technology R&D and value-adding collaborations.
Enpro Subsea's Integrated Subsea Sampling and Injection solution is a small, lightweight system that enables multiple well campaigns from a single vessel. The equipment can be operated subsea by an ROV which can be deployed at multiple injection locations.
Greenberg Traurig, LLP
Gregory K. Lawrence will join the international law firm Greenberg Traurig, LLP as a senior member of its Global Energy and Infrastructure practice. Lawrence, who joins the firm from Cadwalader, Wickersham & Taft, is one of the nation's leading energy and commodities lawyers. Lawrence has extensive experience before the Federal Energy Regulatory Commission (FERC) and multiple state utility commissions regarding complex regulatory and enforcement matters, trading and market structure issues, transactions and governmental affairs. Lawrence will be based in Greenberg Traurig's Washington, D.C. and Boston offices.
Lawrence will focus his practice on the electricity and natural gas industries, representing financial institutions, investment and private equity funds, marketers, commodity traders, renewable and other project developers, municipal and investor-owned utilities, and large energy consumers.
908 Devices
908 Devices, a pioneer of purpose-built analytical devices for chemical analysis, announced it has closed $11.6 Million in Series C funding bringing its funding total to $27.6 Million. Saudi Aramco Energy Ventures (SAEV), the corporate venturing subsidiary of Saudi Arabia's National Oil Company, Saudi Aramco, led the round. Prior investors ARCH Venture Partners, Razor's Edge Ventures, University of Tokyo Edge Capital (UTEC) and Schlumberger also participated and are joined in the round by a number of new executive-level individual investors that will advise on future market expansion.
This new infusion of capital will be used to expand commercial channels and develop additional High- Pressure Mass SpectrometryTM (HPMS) products beyond M908TM in the safety and security market while accelerating expansion into oil and gas, environmental and life science markets. This partnership with SAEV is the second major oil and gas collaboration for 908 Devices. The Company has been working with Schlumberger, the world leader in oil and gas services since 2013 to apply high-pressure mass spectrometry to a number of applications within this market.
Saudi Aramco, which operates in the upstream, midstream and downstream markets and spans exploration, production, refining, petrochemicals, distribution and marketing, will be a partner and leading product adopter as 908 Devices launches solutions for the oil and gas markets. To that end, 908 Devices and SAEV have also signed a commercial services agreement to deploy HPMS technology for applications in the oil and gas industry.
Baker Hughes
Baker Hughes announced the commercial release of its GaugePro™ Echo on-command digital reamer, the industry's first bi-directional digital reaming tool. The new reamer provides the reliability, flexibility and operational insight needed to maintain wellbore stability while drilling through challenging formations or constructing lean-profile wells in deep water and other high-cost applications. It also minimizes the rathole, extra hole at the bottom part of the wellbore that is drilled with the bit only, and decreases the additional reaming trips typically required for this section.
The GaugePro™ Echo reamer is the only intelligent reamer on the market that can digitally confirm activation and deactivation, and it can be activated and deactivated as many times as necessary. Activation and deactivation normally require only eight minutes for each cycle. The reamer also can send back information on its oil pressure, oil temperature and vibration in real time for diagnostics and drilling optimization.
The GaugePro™ reamer can be placed anywhere within the bottomhole assembly (BHA), including very near the bit. It can drill and ream in one run, which reduces pipe handling and rig floor time, along with associated health, safety and environmental risks. Triple-redundancy failsafe measures help to ensure that the reamer always trips out of hole, minimizing the risk of costly delays.
As many as three independent GaugePro™ Echo reamers can be placed in one BHA, which is especially valuable for rathole reaming. When the reamer is placed near the bit, the traditional second rathole reaming run is no longer necessary, wellbore conditions are improved and running casing is significantly faster. The wellbore can be completed during the first run by drilling and reaming all the way to the last 15 ft. (4.6 m) of total depth.