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Expro’s Activities Highlighted at Offshore Energy 2013

first_imgNovember 4, 2013 zoom During Offshore Energy 2013 held in Amsterdam RAI on 15 and 16 October, our reporters spoke to Stuart Ross, Europe CIS Regional Technical Manager for Well Test at Expro.Stuart highlighted Expro’s activities in pioneering well flow management:“Expro provides our clients with the services, products and expertise to measure, improve, control and process flow from high-value oil and gas wells.“From exploration and appraisal through to mature field production optimization and enhancements Expro operates six areas of capability including Subsea Safety Systems, Drilling & Completion and Well Integrity & Intervention.”Active in global markets including Europe CIS, Asia, Sub-Saharan Africa, North America, Latin America and the Middle East, Expro employs over 5000 people in 50 countries and is celebrating its 40th anniversary in 2013.The company has achieved a number of key milestones over the course of its 40-year history. From its first fully integrated well services contract and first big bore subsea landing string in the 1980s and 1990s, to its major acquisitions including Petrotech, Kinley Corporation and Production Testers International in the 2000s.Established in the subsea landing string business since 1981 and with an industry-leading track record, Expro offers solutions from in-riser to open water in shallow and deepwater applications.Colin McKenzie, Director of Subsea at Expro, said:“Subsea landing strings are critical in delivering safe, compliant and efficient operations in all subsea applications and Expro is a pioneer in landing string technology, continuing to invest in core developments.“Today’s subsea operations in increasing water depths demand equipment with superior functionality, performance and reliability. With this in mind, Expro’s subsea tools have been developed using an integrated design and testing process which ensures that equipment meets this highest performance criteria.”Expro’s Subsea product line continues to invest in its service support structure globally and in leading the way into deepwater and challenging subsea environments.He adds: “Subsea is a long-term, high growth market with demand set to increase in developing and mature locations. Deepwater areas in Latin America, the Gulf of Mexico, South and West Africa, Asia Pacific and frontier areas within Europe, continue to be focal points for Expro.“Demand is growing due to the ever increasing subsea well count and Expro are committed to investing in and developing the next generation of subsea landing strings and technology.”Regarding its commitment to the ECIS region, Expro has recently invested heavily in technology, training and development.The Carnegie & Young facilities in Aberdeen, officially opened by the Rt Hon Dr Vince Cable MP, UK Secretary of State for Business, Innovation and Skills, house a team of around 200 people. Further to this, the renovation of Expro’s Bruce building will also see specialised subsea qualification facilities added.Stuart continues: “We have made significant investments in building on our expertise in the UK. We are investing £13 million in new build well testing equipment, bolstering our fleet of rigs, and opened our new well intervention facility earlier this year.“For us, these are exciting times and we continually improve our own products and services to meet industry standards.”Finally, Stuart shared his impressions of this year’s Offshore Energy conference:“This is my first time at the conference and it’s been a great success. I’ve explored the venue and attended a technical session giving an overview of the sector’s future oil and gas production and exploration. It’s good to hear what the experts and leaders in the industry forecast for the coming years so we can work alongside and plan our strategy moving forward.“Offshore Energy is also growing and with Holland’s transportation hub being Amsterdam, it may move there in the future. Expro may also expand our presence in the future highlighting our technical products and services, and opportunities with the company.”last_img read more

Valero Energys retail business may be too big for CoucheTard says analyst

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by News Staff Posted Oct 2, 2012 3:56 pm MDT Valero Energy’s retail business may be too big for Couche-Tard, says analyst MONTREAL – Valero Energy’s retail business may be too big for Alimentation Couche-Tard to acquire unless it is broken up into smaller pieces, says an industry analyst.The parent company of Ultramar is reportedly looking to sell its fuel stations and convenience stores in the United States and Canada.Analyst Peter Sklar of BMO Capital Markets estimated Valero’s (NYSE:VLO) retail network could fetch US$3.5 billion to US$4 billion, a price likely too rich for Couche-Tard.Sklar suggested the Quebec-based company could only raise up to US$1.9 billion in new debt without hurting its credit rating and would have to substantially dilute its share base if it partially funded it by issuing new shares.“In the event that Valero decides to auction its retail business in smaller, regional prices rather than as a whole, we believe that Couche-Tard could then potentially become an acquirer,” he wrote in a report.Couche-Tard has said it wants to reduce its debt from buying Scandinavia’s Statoil Fuel & Retail earlier this year for $2.9 billion. However, it continues to look for acquisition opportunities and recently completed some small deals in Florida and Washington State.Valero had almost 1,000 company-operated stores in the U.S. and about 380 in Eastern Canada under the Ultramar brand as of December.Irene Nattel of RBC Capital Markets said it’s not clear that Valero will ultimately sell the retail operations.“Apparently, it is more advantageous from a tax perspective to spin it out to shareholders,” she said in an email.That’s exactly what oil giant Statoil did with its retail operations before they were ultimately sold to Couche-Tard.Acquisitions past and future are expected to be discussed on Friday when Couche-Tard meets shareholders at its first annual meeting since acquiring Statoil Fuel & Retail.The chain operates more than 6,000 stores in North America under the Couche-Tard and Mac’s banners in Canada and the Circle K name in the United States.The company also has 2,300 Statoil Fuel & Retail locations in Europe.On the Toronto Stock Exchange, Couche-Tard’s shares lost 45 cents at C$45.05 in afternoon trading. read more