U.S. Rig Count Drops, But E&P Spend Up 13%
Co this week said the exploration and production (E&P) companies they track have provided guidance indicating a 13 percent increase this year in planned capital spending.Cowen said those E&Ps expect to spend a total of $81.2 billion in 2018, up from an estimated $72.1 billion in 2017.Analysts at Simmons & Co, energy specialists at U.S. investment bank Piper Jaffray, this week forecast average total oil and natural gas rig count would rise from 876 in 2017 to 1,037 in 2018, 1,097 in 2019 and 1,232 in 2020, little changed from last week.So far this year, the total number of oil and gas rigs active
NSRI to Help Companies Get Technology off the Ground
. The session will feature a series of presentations outlining available resources and the support organizations which can provide assistance with research and development, tax, funding and patenting. Representatives from HGF Ltd, Johnston Carmichael, Burness Paull, Astrimar, and Simmons & Co will also take to the stage to provide an insight into the range of patent box schemes, R&D tax relief and collaborative industry agreements aimed at supporting the developer community get their technology off the ground. They will also offer advice on how to finance a new venture and
Nominations Open for Subsea UK Awards
subsea company of the year (large and small), the most promising young person in the sector, the most exciting new enterprise and an individual who has made the most outstanding contribution to the subsea industry. The awards will also recognize achievements and innovations in technology, sponsored by Simmons & Co International, safety and exports. Entries can be made online by November 12. An independent judging panel of industry leaders will score each entry according to the agreed criteria and the shortlist of finalists will be announced in January 2016 Accolades will be presented at a gala
Proserv Wins Subsea UK’s Company of the Year Award
at Proserv. Proserv also secured “major investment” when it was acquired by US private equity firm, Riverstone. The award for outstanding contribution to the subsea industry was given to commercial diving veteran, Alf Leadbitter, from the Underwater Centre in Fort William. Tracerco won the Simmons & Co-sponsored Innovation & Technology award in recognition of the success of its “Discovery” technology, which has gained praise as a break-through in subsea pipeline inspection.
Proserv Acquired by Riverstone
the past seven years, working closely with the leadership team to develop and grow Proserv to be the company it is today. We are sincerely thankful for the role both Intervale and Weatherford have played in bringing the company to this significant point in our journey.” Goldman Sachs and Simmons & Co advised both Proserv’s leadership team and Intervale throughout the transaction process. The agreement, which is subject to certain regulatory approvals, is expected to close by the end of this year. Financial terms were not disclosed. Managing director of Simmons & Co, Nick
Simmons UK Double Up on Oil & Gas Deals
Simmons & Co in Aberdeen completed 14 deals in 2012 valued $2.3-billion, more than double the 2011 total value. The corporate finance advisers to the energy sector have played a significant role in many of the most prominent transactions that took place across the oil and gas service sector in 2012 including deals subsea, well services, drilling and completions sectors. Colin Welsh, chief executive officer at Simmons said: "Getting the best result for our clients in the current environment has been challenging because the market dynamics keep changing as new buyers emerge and the sector
February 2024
