First joint EMGS - Fugro Multi-Client Project initiated
2010.01.14 -
Company News
Electromagnetic Geoservices ASA (EMGS) today announced that it has started a joint 3D EM Multi-Client Project in the Norwegian Sea. The project will be completed during first quarter 2010. Prefunding, and subsequent late sales received by end of first quarter, will be recognized in the quarter.
"We find the business prospects for this project attractive, especially towards the upcoming licensing round in Norway this year. In addition we are particularly pleased with the fact that the first of several joint projects under the EMGS - Fugro alliance now has been initiated" says Roar Bekker, EMGS Chief Executive Officer.
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.
