AGR Subsea and Mako Technologies Sign Representation Agreement
2010.02.09 -
Company News
GR Group (OSE: AGR) announced today that its trenching and excavation subsidiary, AGR Subsea Ltd (“AGR Subsea”), has today signed a representation agreement with Mako Technologies LLC (“Mako”), a wholly-owned subsidiary of Deep Down Inc (OTCBB: DPDW). Under the agreement Mako will promote AGR Subsea’s well-proven SeaVator™ and ClayCutter X™ seabed excavation service lines in the US Gulf Coast region, and provide operational support once projects are under way.
John Sands, AGR Subsea Ltd Managing Director, said: “We are looking forward to improving our profile in the US Gulf coast. This agreement means that we can serve our clients in the region better and we can convert the significant interest in our seabed excavation services into projects. Mako’s long experience in the region, good reputation and excellent network means that we can reach all the relevant clients in the trenching, decommissioning and salvage areas and get our message across clearly”.
Jacob Marcell, President of Mako, added: “We are delighted to be working with AGR Subsea Ltd, and look forward to bringing this exciting technology to the US Gulf of Mexico. This agreement complements Mako's products and services, and will create new opportunities for Mako”.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
