Proactiveinvestors United Kingdom - Oil & Gas Equipment & Services RSS feed Proactiveinvestors United Kingdom - Oil & Gas Equipment & Services feed en Sat, 20 Jan 2018 11:33:52 +0000 Genera CMS ADES International extends key rig contracts in Gulf of Suez Thu, 11 Jan 2018 07:36:00 +0000 ADES International inks rig acquisition deal with Nabors Wed, 20 Dec 2017 09:00:00 +0000 ADES International says bidding activity remains strong as it reports a 34% jump in nine month revenues Fri, 01 Dec 2017 08:18:00 +0000 ADES International wins new contract from long-term customer for its ADMARINE III offshore jack-up rig Thu, 16 Nov 2017 07:58:00 +0000 ADES International launches deepwater venture in Egypt Wed, 15 Nov 2017 08:53:00 +0000 ADES International lays out blueprint for growth through oil downturn Tue, 19 Sep 2017 14:26:00 +0100 Drilling pick-up boosts revenues at ADES International Tue, 12 Sep 2017 16:14:00 +0100 MagneGas Corporation reveals 138% rise in revenue Wed, 23 Mar 2016 15:50:00 +0000 MagneGas shares advance as customer expands use Tue, 12 Jan 2016 18:33:00 +0000 MagneGas Corporation unveils details of new fuel product Mon, 21 Dec 2015 13:13:00 +0000 MagneGas scoops award at technology event Mon, 14 Dec 2015 17:44:00 +0000 China New Energy surges 11% after it signs outline deal for two new biorefineries Fri, 04 Dec 2015 08:07:00 +0000 Mackie still upbeat on Ceiba Energy after third quarter figures Fri, 20 Nov 2015 13:25:00 +0000 MagneGas says new deal with Green Arc Supply heralds 'new era' Fri, 13 Nov 2015 17:54:00 +0000 MagneGas reports tripling of third quarter revenue as momentum continues Wed, 11 Nov 2015 17:31:00 +0000 Apache Corp shares rise on takeover talk Mon, 09 Nov 2015 14:37:00 +0000 ConocoPhilips posts biggest loss in more than six years Thu, 29 Oct 2015 12:37:00 +0000 Piedmont jumps as Duke launches US$4.9bn takeover Mon, 26 Oct 2015 16:30:00 +0000 Schlumberger unit in tie-up with Highlands Natural Resources The technology could help revitalise an ailing onshore oil industry in the US

Highlands Natural Resources (LON:HNR) said a unit of oil field services giant Schlumberger (NYSE:SLB) has signed indicative terms to licence a re-fracking technology that could become a “major disruptive force” in the industry.

Schlumberger wants to evaluate the potential of DT Ultravert (DTU) by assessing the data gained from five field trials over a year.

The technology has been developed by Diversion Technologies and specifically Paul Mendell, who created AIM-listed Iofina.

However, Highlands has effective control of the DTU as it owns a 75% stake in Diversion's current patent applications, both in the US and globally.

"Highlands will continue to work closely with Schlumberger and the engineers and geologists on our advisory board to perfect the DT Ultravert technology by designing fracks in several basins throughout the world,” said the company’s chairman Robert Price.

“Trials will be undertaken to demonstrate its effectiveness, which will provide us with valuable data regarding its application.

 "We believe that if successful, DT Ultravert could represent a major disruptive force in the market and generate significant future revenue for Highlands."

Against a backdrop of persistently low oil prices producers and the oil services companies that drill and frack have been frantically casting about for ways of optimising what they do. 

One approach deployed onshore in the US has been to re-frack wells, which, while lower cost than drilling new targets, has met with limited success.

A couple of firms have patented technology that plug old cracks. One is thought to use corn starch to make refracking more effective.

Still, the jury is out over the effectiveness of this new technology.

Diversion’s Mendell thinks he has come up with a simple and effective way to re-frack that is game-changing.

The technique uses a pressurised gas (initially it will be nitrogen), rather than fluids.

Mendell believes the gas will “block and divert” fracking fluid away from already cracked rocks to new, new untreated areas.

Crucially, he thinks it will work on horizontal wells that have thus far proved very difficult to re-frack.

Schlumberger shares in New York rose 1.49% in after hours trading to stand at US$73.78.

Fri, 25 Sep 2015 13:35:00 +0100
Titan Energy Services banks $2.2M tax refund Titan Energy Services (ASX:TTN) has received a $2.2 million tax refund from the Australian Taxation Office that will support its working capital position.

The company’s key focus is to monitor expenditure and preserve cash.

It is also actively engaged with potential clients to deploy assets efficiently and effectively once tender decisions are finalised and projects commence.

As at 30th June 2015, the company has $1.1 million in cash and no debt.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Fri, 25 Sep 2015 02:00:00 +0100
Transocean plans to cancel two dividend payments; shares drop Transocean (NYSE:RIG) fell in premarket trades, a day after the world’s top offshore rig operator said it planned to cancel its next two dividend payments and take writedowns of more than $2.1bn.

The plan will be submitted to shareholders in an extraordinary meeting on October 29, as required under Swiss law, the Switzerland-based company said in a statement on Tuesday.

Shares were down 3% at $11.85 as of 8:50 a.m. in New York. The stock had lost 33% this year through the close of trading on Tuesday.

The company said it is evaluating its investments in affiliates as recorded on its Swiss standalone statutory balance sheet for impairment on an interim basis, “in light of the deterioration of the offshore drilling market and concerns regarding the timing of the market’s recovery.”

The sharp decline in crude oil prices, off more than 60 percent from last year, has forced most major oil and gas companies to scale back on spending in exploration and production, leading in turn to a decline in the volume of rig activity. Transocean in March said it was scrapping four of its rigs for sale.

On Monday, Moody’s Investors Service placed the ratings of 11 offshore drillers including Transocean under review for downgrade. 

“The review reflects Moody’s concern that offshore drilling contractors will face an extremely challenging operating environment through at least 2017,” Moody’s analyst Sajjad Alam said in the statement.

Earlier this month, Transocean said its second-quarter revenue fell 19% to $1.88bn. 

Transocean’s 4.9 percent implied dividend yield is the second-highest among rig operators in the Standard & Poor’s 500.



Wed, 26 Aug 2015 16:05:00 +0100
UPDATE - Cameron International agrees to become part of Schlumberger Wed, 26 Aug 2015 14:59:00 +0100 MagneGas files patents after success of MagneGas2 product introductions Mon, 24 Aug 2015 14:20:00 +0100 MagneGas fuel to be distributed by Harris Industrial Gases Tue, 18 Aug 2015 17:44:00 +0100 MagneGas more than triples revenues in the second quarter of 2015 Tue, 11 Aug 2015 21:44:00 +0100 MagneGas moves coal emission reducing tech to advanced testing Mon, 10 Aug 2015 21:52:00 +0100 A major northeastern utility with billions in assets impressed by MagneGas’s acetylene replacing fue Tue, 04 Aug 2015 19:55:00 +0100 Short trade volume spiked in the US last month Thu, 30 Jul 2015 14:57:00 +0100 MagneGas partner in Kazakhstan starts to produce and market MagneGas fuel Wed, 17 Jun 2015 20:46:00 +0100 MagneGas ramps up production after equipment upgrades Fri, 12 Jun 2015 16:37:00 +0100 Ades CEO breaks game-changing new Arabian Gulf rig news Dr. Mohamed Farouk, CEO of Ades International Holding (LON:ADES) tells Proactive why the latest PSA for 3 operational off shore jack up rigs in the Arabian Gulf is significant for the company and how far progressed the new deal is.
Ades is an oil/gas drilling and production services provider in the Middle East and Africa offering offshore and onshore contract drilling as well as workover and mobile offshore production unit services. From its base in Egypt, Ades sees it's growth strategy and performance going forward as serving Tier One clients and using the very latest innovative drilling technology to enhance both worker safety and shareholder satisfaction.

Wed, 20 Dec 2017 15:22:00 +0000
ADES International thriving in tough times Dr Mohamed Farouk, chief executive of ADES International PLC (LON:ADES) outlines to Proactive the Egypt-based driller's strategy and plans for growth.

“We buy unwanted or legacy oil rigs, refurbish and use them to become the lowest price drilling contractor in the Middle East market while offering operational excellence and safety,” Farouk says.

At present, ADES has fourteen rigs on its books and utilisation -
which is key for drilling contractors - has always been high at about 90%.

Mon, 18 Sep 2017 16:08:00 +0100
MagneGas' chief exec says Mexican gas order opens new market opportunities in region Ermanno Santilli, chief executive officer at Nasdaq-listed liquid waste-to-gas specialist MagneGas (NASDAQ:MNGA) says he is "very happy" about the gas purchase order with a large Mexican gas company as it opens new market opportunities in the region.
He explains the company will soon move into a new building where it will be able to double or triple its production of gas.
Santilli says the company's solution to replace acetylene is more stable and can help reduce costs.

Thu, 18 Feb 2016 15:58:00 +0000
MagneGas boss eyes revenue uplift from US metal cutting market NASDAQ:MNGA), Ermanno Santilli, potential revenue from the metal cutting market in the United States. The firm has a patented process to convert liquid waste into a hydrogen-based metal cutting gas and has been ramping up sales recently, more than tripled its revenue in the second quarter of 2015. Clients include the US Navy, with users rating its hydrogen- gas as cost-competitive, safer, faster and cleaner gas than other metal cutting fuels. ]]> Wed, 12 Aug 2015 18:32:00 +0100 Africa still under-explored by oilers says Halliburton’s Lakani Ramin Lakani, regional general manager for Halliburton says oil firms have some way to go before realising the full resource potential Africa has to offer.

Speaking at the Oil & Gas Council’s 2015 Africa Assembly, the oil services expert says there is an abundance of untapped onshore, offshore and shallow water opportunities across the continent.

However, the low oil price has affected profitability levels and hampered exploration efforts recently and Lakani says focusing on costs and improving efficiencies should be key priorities.

Wed, 24 Jun 2015 07:32:00 +0100
Halliburton looking to tap into Africa's shale resources Wed, 25 Jun 2014 12:07:00 +0100