IHS Inc., a global provider of technical information, decision-support tools and strategic services, Thursday said it had agreed to pay $48 million cash for John S. Herold Inc., a Norwalk, CT-based independent research firm founded in 1948 that provides analyses and financial and operational data on more than 400 global oil and gas companies.
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Canada’s Precision Says Customer Demand for Services Still Declining
Precision Drilling Trust, Canada’s largest oilfield services provider, cut its distribution to investors Friday by 31.5% after it said customer demand for its services was continuing to decline.
GE Buying Vetco Gray for $1.9B, Grows Oil Patch Position
GE said last week it has agreed to acquire Houston-based oilfield equipment provider Vetco Gray for $1.9 billion, which would grow its oilfield services business by nearly half. The company is a subsidiary of Vetco International, which is owned by private equity firms Candover, 3i and JP Morgan Partners.
GE Buying Vetco Gray for $1.9B, Grows Oil Patch Position
GE said Monday it has agreed to acquire Houston-based oilfield equipment provider Vetco Gray for $1.9 billion, which would grow its oilfield services business by nearly half. The company is a subsidiary of Vetco International, which is owned by private equity firms Candover, 3i and JP Morgan Partners.
Nabors, First Reserve Commit $1B to New E&P
Energy services provider Nabors Industries Inc., which concentrates most of its activities in North America, and private equity firm First Reserve Corp. on Friday committed $1 billion to form NFR Energy Inc., a new exploration and production company (E&P). The 50-50 joint venture will focus on development and exploitation projects with Nabors’ existing customers and other operators worldwide.
Nabors, First Reserve Commit $1B to New E&P
Energy services provider Nabors Industries Inc., which concentrates most of its activities in North America, and private equity firm First Reserve Corp. on Friday committed $1 billion to form NFR Energy Inc., a new exploration and production company (E&P). The 50-50 joint venture will focus on development and exploitation projects with Nabors’ existing customers and other operators worldwide.
Ex-Aquila Traders Plead Guilty to Concealing False Price Reports
Three former trading desk managers for Kansas City, MO, natural gas and electricity provider Aquila Inc. pleaded guilty in federal court last Monday to concealing information about the reporting of false prices for natural gas trades to index publishers.
Ex-Aquila Traders Plead Guilty to Concealing False Price Reports
Three former trading desk managers for Kansas City, MO, natural gas and electricity provider Aquila Inc. pleaded guilty in federal court Monday to concealing information about the reporting of false prices for natural gas trades to index publishers.
El Paso Sells Permian Basin Pipe Systems to Midland Firm
FERC on Tuesday approved El Paso Natural Gas Co.’s bid to sell more than 200 miles of lateral pipelines in West Texas to a Midland, TX-based natural gas provider for an estimated $300,000. At the same time, it approved the request of the buyer, West Texas Gas Inc., to exempt the facilities from FERC jurisdiction under the Natural Gas Act.
OPEX Electronic Energy Trading Platform Goes Live
Throwing its hat into the crowded electronic energy trading arena, Briarcliff Manor, NY-based Optionable Inc., a provider of natural gas and other energy derivatives brokerage services, announced last week that it has commenced trading on its OPEX platform. OPEX is a real-time electronic trade matching and brokerage system that has been certified to connect with the Nymex ClearPort clearing platform.