Expro, a Houston-headquartered energy services provider, signed a contract with Apache Corp. worth $50 million on Apache's Beryl and Forties assets, according to a press statement released Dec. 1.
"Expro have worked with Apache for two decades. We are committed to providing safe, efficient, and environmentally responsible services," Expro regional vice president of Europe and Sub-Saharan Africa Colin Mackenzie said in the statement. "We look forward to adding further value to Apache with the introduction of our latest well intervention technologies."
Through a fully integrated well intervention and integrity services contract, Expro will provide slickline, e-line, cased hole and pressure pumping services, as well as technology innovations including Octopoda, CoilHose and Distributed Fiber Optic Sensing Slickline. The project is expected to begin in fourth-quarter 2022.
The contract will enable Expro to optimize Apache's operations at its Beryl Alpha and Bravo and Forties Alpha, Bravo, Charlie, Delta and Echo assets, along with other Apache North Sea assets.
Additionally, Expro will commit to a long-term future on the U.K. continental shelf through the investment of "significant" capital in new technology and equipment. The contract between the two companies has a primary term of the three years, with two one-year extension opportunities.
"We are delighted to receive this award, which demonstrates the continuation of our longstanding relationship with Apache and long-term investment in the U.K. sector of the North Sea," Mackenzie added. "The full scope of services for this campaign will be supported from Expro’s regional headquarters in Aberdeen."
Recommended Reading
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
CEO Darren Woods: What’s Driving Permian M&A for Exxon, Other E&Ps
2024-03-18 - Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
Uinta Basin's XCL Seeks FTC OK to Buy Altamont Energy
2024-03-07 - XCL Resources is seeking approval from the Federal Trade Commission to acquire fellow Utah producer Altamont Energy LLC.
Analysts: Why Are Investors Snapping Up Gulfport Energy Stock?
2024-02-29 - Shares for Oklahoma City-based Gulfport Energy massively outperformed market peers over the past year—and analysts think the natural gas-weighted name has even more upside.
SilverBow Saga: Investor Urges E&P to Take Kimmeridge Deal
2024-03-21 - Kimmeridge’s proposal to combine Eagle Ford players Kimmeridge Texas Gas (KTG) and SilverBow Resources is gaining support from another large investor.