ATP closes $1.05B loan, adds $600M asset sale facility

ATP Oil & Gas Corp. has closed a new senior secured term loan facility. The $1.05 billion facility matures in July 2014. The $600 million asset sale facility has a bullet maturity in January 2011 and allows a pay down at par associated with the ATP Employee Challenge announced in March. The new term loan facility replaces a $1.2 billion senior secured loan that was scheduled to mature in April 2010 and a $210 million subordinated loan that was scheduled to mature in September 2011. Proceeds will be used to refinance existing debt and for general corporate purposes. Credit Suisse acted as sole lead arranger.

KBR completes $550M BE&K acquisition

KBR has completed the $550 million acquisition of BE&K Inc., a privately held, Birmingham, Ala.-based engineering, construction, and maintenance services company. Mike Goodrich, BE&K president and CEO and Ted Kennedy, one of BE&K’s founders, have agreed to stay on board to help transition and integrate BE&K into KBR.

Centrica to pay $416M to Marathon for interest in Heimdal area offshore Norway

Marathon Oil Corp. has entered into a definitive agreement with Centrica plc, the parent company of British Gas, under which Centrica will purchase Marathon’s non-operated interests in the Heimdal infrastructure, related producing fields, and associated undeveloped acreage offshore Norway. The transaction has a total value of $416 million and includes a $375 million purchase price plus $41 million in associated Norwegian asset tax pools, but excludes any purchase price adjustments due at closing. Centrica will acquire Marathon’s 23.8% interest in the Heimdal field, as well as its 46.9% interest in the Vale field; a 20% interest in the Byggve field; a 20% interest in the Skirne field; and a 50 and 20% interest in the Peik and Heimdal East discoveries, respectively. Marathon’s net proved reserves associated with these assets as of year end 2007 were 4.8MMboe, and total net risked resources of nearly 17.5MMboe.

Transocean inks $412M contract with Eni

Transocean Inc. has been awarded a two-year contract by a subsidiary of Eni. The contract is scheduled to commence in December 2009 following completion of the rig’s existing contract commitments in the US Gulf of Mexico. Estimated contract revenues are roughly $412 million.

FMC snags $87M contract for StatoilHydro’s Norne field

FMC Technologies Inc. signed a contract with StatoilHydro for the manufacture and supply of additional subsea equipment for its Norne field development, located in the Norwegian Sea. The contract is valued at nearly $87 million. Delivery is slated to begin in 2009.

Chesapeake, PXP form Haynesville Shale JV

Chesapeake Energy Corp. and Plains Exploration & Production Co. (PXP) have entered into a Haynesville Shale joint venture in North Louisiana and East Texas. PXP has agreed to acquire a 20% interest in Chesapeake’s Haynesville Shale leasehold for $1.65 billion in cash. PXP has agreed to fund 50% of Chesapeake’s 80% share of drilling and completion costs for future Haynesville Shale JV wells over a several year period until an additional $1.65 billion has been paid. Chesapeake is currently utilizing five operated rigs in the play and anticipates operating at least 12 rigs by year-end 2008, at least 30 rigs by year-end 2009, and up to 60 rigs by year-end 2010. The companies anticipate drilling at least 600 wells over the next three years. Jefferies Randall & Dewey acted as advisor to Chesapeake and JP Morgan Securities Inc. and Lehman Brothers Inc. acted as advisors to PXP on the transaction.

EnSolve Biosystems provides biotechnology water treatment for offshore pipeline operations

Anadarko Petroleum Corp. and its services contractor, Weatherford International Ltd., have deployed a pair of biotechnology water treatment systems from EnSolve Biosystems for a natural gas pipeline network in the eastern Gulf of Mexico. The EnSolve PetroLiminator Oil Water Separator systems use hydrocarbon-consuming microorganisms to cleanse hydrocarbons and other wastes from the condensate water produced by onboard air compressors. The water, once treated, meets international regulatory requirements of less than five parts per million (ppm) for discharge into the sea. Both PL 630M systems are capable of treating approximately 10,000 gallons of water per day. Anadarko saved approximately $500,000 by eliminating the need to store and dispose of the condensate.

Clariant strengthens ties to oil industry; opens new global center in Houston

Clariant has strengthened its service business in the oil, gas, and mining industries by opening a new global center in Houston and appointing Christopher Oversby to head the global business unit. Oversby joined Clariant after 24 years with Baker Hughes. “Being located in Houston positions Clariant advantageously close to many of the major global energy companies. This will enable Clariant to accelerate growth in the strategically important North American energy market where the demand for our technologies and services continues to rise,” he said. Clariant Oil Services is a supplier of chemicals and integrated services to the oil and gas industry.

Goodrich Petroleum prices share offering at $184M

Goodrich Petroleum Corp. has priced its offering of 3,000,000 shares of its common stock. All of the shares offered will be sold at a price to the public of $64.00 per share. Net proceeds, estimated at $183.9 million, will be used to pay off the outstanding balance of its senior revolving credit facility, with the remainder to be used for general corporate purposes, including capital expenditures associated with its ongoing operations and expansion of its activities in the Haynesville Shale.

AMEX members approve acquisition by NYSE Euronext

Members of The Amex Membership Corp. approved the adoption of the merger agreement between AMC and NYSE Euronext and certain of their subsidiaries. NYSE Euronext will pay $260 million in NYSE Euronext common stock for the American Stock Exchange (Amex). Amex’s lower Manhattan headquarters is expected to be sold. Lehman Brothers is acting as financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to NYSE Euronext. Amex is represented by Morgan Stanley as financial advisor and Milbank, Tweed, Hadley & McCloy LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal advisors.

Intervale closes buyout fund, exceeds $200 million target

Intervale Capital LLC has closed its debut buyout fund, Intervale Capital Fund LP, with capital commitments in excess of $280 million. The fund exceeded its target of $200 million. Intervale expects to deploy more than $500 million to acquire energy service companies. Intervale targets service company platforms that either own or can acquire technologies.

Schlumberger snags Extreme Engineering

Schlumberger has acquired Extreme Engineering Ltd., a Calgary-based supplier of unmanned measurement-while-drilling systems from its founders and investors that include the Shell Technology Ventures Fund 1 BV managed by Kenda Capital BV. Extreme Engineering, which will continue to operate under its own brand, maintains major operational bases in Calgary, Alberta, Denver, and Fort Worth, backed by engineering and manufacturing facilities in Calgary.