Finance/Companies news briefs, Oct. 30
19552 Yukon Inc., an affiliate of Nabors Industries Inc., Houston, raised its offer to acquire Command Drilling Corp., Calgary, to $3.40 (Can.)/share from $3.30 (Can.) (OGJ Online, Sept. 17, 2001).
Statoil ASA, Stavanger, signed a frame agreement with Scandinavian Fittings & Flanges and the Bergen Rørhandel-Stavanger Rørhandel joint venture for the supply of pipe and pipe fittings for offshore development projects, land facilities and major modification projects. The agreements are valid for 2 years, with two 2-year options. Calculations show that Statoil will require pipe and fittings worth almost 1.4 billion kroner over the next 6 years.
Aker Maritime AS plans to invest 300 million kroner in its fabrication yards at Verdal and Stord in the next few years, including 45 million on various initiatives to streamline production and logistics.
Rider Resources Inc., Calgary, agreed to offer to acquire the shares of Esker Resources Ltd. for 0.867 Rider share each or 0.65 (Can.)/share. Rider recently offered to acquire Circle Energy Inc. (OGJ Online, Sept. 20, 2001).
Completion Systems, a business unit of Weatherford International Inc., Houston, acquired UK company BD Kendle Engineering Ltd., which makes well servicing tools and associated equipment. Price was not disclosed.
Ivanhoe Energy Inc., Whitehorse, Yukon, Canada, closed $18 million (US) in special warrant financing. It will use the proceeds to advance its deep-gas drilling program in California's San Joaquin basin.
A group of Russian company Sibneft's core shareholders will entrust management of an extensive portfolio of assets to newly created asset management group Millhouse Capital, including an 88% stake in Sibneft. Millhouse Capital will manage assets but will not own significant assets itself.
Smith International Inc., Houston, acquired 797,729 common shares of CE Franklin Ltd. over the last year, increasing its holding to 54.6% of the outstanding CE Franklin common shares.
Technip-Coflexip, recently formed from the merger of Technip SA and Coflexip SA began trading on the New York Stock Exchange. It also trades on the Premier Marché of the Euronext Exchange in Paris.
Eurogas Inc., New York, acquired Falcon Energy Overseas Inc. Falcon and First International Oil Corp., Houston, own another company, First Falcon Oil & Gas Ltd., which holds the license to explore and develop proven shallow oil fields in the 3.2 million Sagiski Block in Kazakhstan.
In the 2002 draft budget, the French government decided to re-levy the windfall profits tax on the provisions that oil companies make to deal with price fluctuations. The tax involves added value on the previous year's oil stocks. Oil companies' trade group Union Française des Industries Pétrolières protested.