American Oil and Gas Reporter - May 2016 - 106

IndustryFocus: Companies, People and Products

Weatherford Recognized For Rig-Free® Pulling Unit
HOUSTON-Weatherford was named
P&A Pioneer at the DecomWorld Awards
2016, held Feb. 23 during the DecomWorld
Decommissioning and Abandonment
Summit in Houston.
According to Weatherford, the award

recognizes a technology or solution that
demonstrates cutting-edge capabilities for
well plugging and abandonment. The
company says it received the award for
its Rig-Free® light-duty pulling and jacking
unit, which eliminates the need to use
jackup and workover rigs for offshore
abandonment and intervention campaigns. For multiwall campaigns,
Weatherford estimates Rig-Free can
save tens of millions of dollars.
For
information,
visit
www.weatherford.com.
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Delaney Olstad (left) and Jonathan
Osei-Kuffour accept the P&A Pioneer award on Weatherford's behalf.

Dorf Ketal Buys Flowchem To Accelerate U.S. Growth
MUMBAI, INDIA-Dorf Ketal Chemicals India Private Limited has acquired
Flowchem Technologies LLC, a specialty
oil field chemical provider based in Rayne,
La. Flowchem says it operates across the
Gulf of Mexico and the U.S. onshore
market with blending facilities in Rayne
and Pleasanton, Tx., as well as multiple
warehouses.
"The acquisition provides a ready conduit through existing contacts to introduce
Dorf Ketal's differentiated technologies
to accelerate entry into the U.S. upstream
market," says Subodh Menon, Dorf Ketal's
founder and director of operations and

business development. "There will be
manufacturing and supply chain synergies
to increase cost competiveness in the challenging oil field market."
Flowchem President Ken Marks comments, "This partnership will allow Flowchem to grow and extend our infrastructure
in North America. It provides access to
Dorf Ketal's innovative chemistries and
research and development capabilities that
will enhance our competitiveness and increase profit improvement solutions for
our customers."
For information, visit www.dorf ketal.com.
❒

PCORE II Gets Financing From NGP's Latest Fund
DALLAS-PCORE Exploration & Production II LLC announces it has raised
$200 million in equity from Natural Gas
Partners through NGP Natural Resources
XI LP and PCORE II's management
team. NGP Natural Resources XI is NGP's
latest private equity fund focused on
natural resources.
PCORE introduces itself as a Dallasbased producer driven by subsurface understanding and engineering execution
with a focus on developing core unconventional oil prospects in North America.
The company is led by Mark Hiduke,
David Hall, Colin O'Farrell and Billy
Hannes, all of whom led PCORE Exploration & Production LLC, which was
founded in May 2014 and sold in January
2016. Before they founded that preceding

company, the management team's members
served in various roles as managers, technical specialists and attorneys at Pioneer
Natural Resources, SM Energy and Norton
Rose Fulbright.
"After a successful partnership on our
prior company, we are excited to form
PCORE II with NGP," states Chief Executive Officer Mark Hiduke. "David, Colin,
Billy and I, together with the entire PCORE
team, look forward to creating significant
value for our investors in this opportunistic
environment."
❒

106 THE AMERICAN OIL & GAS REPORTER

Coming In June
Special Report:
Offshore & Subsea Technology

Baker Botts Aids Western
Gas Partners' Acquisition
HOUSTON-Baker Botts reports Western Gas Partners LP has agreed to acquire
a 100 percent interest in Springfield
Pipeline LLC from its corporate sponsor,
Anadarko Petroleum Corp., for $750 million.
WES intends to finance part of the acquisition by issuing 835,841 common
units representing limited partner interests
in WES at a price of $29.91 a common
unit to the owner of its general partner,
Western Gas Equity Partners LP. WGP
will fund its WES common units purchase
by drawing on a new secured revolving
credit facility, Baker Botts reports. The
firm says it represented the WGP special
committee with respect to WGP's purchase
of WES common units.
According to Baker Botts, Springfield's
sole asset is a 50.1 percent interest in the
Springfield oil and gas gathering system,
which consists of 548 miles of gas gathering lines with a capacity of 795 million
cubic feet a day and 241 miles of oil
gathering lines with a capacity of 130,000
barrels a day in South Texas' Dimmit, La
Salle, Maverick and Webb counties. The
assets to be acquired also include 24 compressor stations with centralized delivery
points, 260,000 barrels of oil storage capacity and 75,000 bbl/d of stabilization
capacity.
❒

Wild Well Proves Method
For Reducing P&A Costs
HOUSTON-Wild Well Control Inc.
says its DeepRange™ tool, in conjunction
with its 7Series riserless intervention system,
has performed successful and complete
plug and abandonment operations on four
subsea wells in the Gulf of Mexico as part
of a larger P&A campaign.
"The new tools and techniques used on
this project already have exceeded expectations," says Wild Well Vice President of
Marine Well Services Martial Burguieres.
"Our methods offer reduced costs while
maintaining full BSEE compliance."
Each of the first four wells used the
new DeepRange tool to isolate an outer
annulus by circulating a minimum of 200
feet of cement in place and pressure testing
the plug according to federal regulations,
Wild Well relates.
For information, visit www.wild well.com.
❒

American Oil and Gas Reporter - May 2016

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