Oxane Materials names Clay Border V.P. of sales

Oxane Materials, a Houston-based marketer and manufacturer of Advanced Ceramic Proppant, has announced the addition of Clay Border as V.P. of sales. In his role, Border will lead Oxane’s sales team, focusing on field performance and return utilizing the company’s proprietary proppant.

Oxane' s patented proppant travels deeper and more uniformly into oil and gas formations, while affording a more conductive channel for flow to the wellbore. As a result, more hydrocarbons are produced at a more rapid rate, relative to wells propped with commodity proppants.

Previously, Border was managing director for Donovan Capital, an energy-focused investment bank that provided merchant bank, advisory and capital raising services to private upstream energy companies. He was also V.P. within the securities division of Tudor, Pickering, Holt & Co., an energy investment banking and research firm based in Houston. Before entering the securities industry, Border was a technical sales engineer for a division of Emerson Electric and Reliance Electric (acquired by Rockwell Automation).

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

Smaller companies to dominate Shale, Pemex unit Director says

Smaller companies will probably dominate development of Mexico’s shale gas deposits as Pemex focuses on shallow water and onshore projects, according to the independent director of one of the state owned company’s units.

Pemex, will probably focus on businesses with higher margins to maximize profits, leaving room for smaller companies in shale, Mario Gabriel Budebo, a director of Pemex Gas and Basic Petrochemicals, said to Bloomberg Mexico Economic summit.

“It’s not the large companies that have the agility and the cost structure to exploit shale gas,” said Budebo,a former deputy energy minister. “It’s an area for new players.”

Emilio Lozoya, Pemex’s CEO, on March 3 invited the world to explore for shale deposits in its recently opened energy sector.The crude production monopoly the company has held since 1938 ended on December 20,2013.Pemex aims to attract as much as $1 trillion in energy investment during the next decade to exploit the biggest proven oil reserves in Latin America after Venezuela and Brazil,he said.

A “big chunk” of investment in the sector may come from Asia, said Kent F. Moors, executive chair of the Global Energy Symposium.Finance Minister Luis Videgaray said in an interview that Mexico’s government is working with China to have the world’s second largest economy increase its investment across industries.

Videgaray helped shepherd the laws last year that opened the nation’s state-controlled oil industry to private drillers.

Victor Herrera, Latin American managing director at Standard & Poor’s, said in a December 20,2013 interview that pipeline and shale gas investment could come “very quickly.” Shale and natural gas are the “low-hanging fruit” of the energy reform and may be explored as soon as the second half of this year by foreign companies, according to Herrera.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

Pan American Energy renews Wavefront fluid injection contract

Wavefront Technology Solutions, a provider of fluid injection processes primarily for mature field revitalization (EOR), as well as oil and gas well stimulation, has announced that Pan American Energy has awarded it (through agent Chilicote) a renewed, 12-month Powerwave contract worth approximately $533,000.

The contract renewal with PAE is for the Los Flores Norte–Cerro Dragon field in Argentina, and expands the existing project from three to seven Powerwave-driven water injectors.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.

Drilling Tools International acquires Reamco, Inc.

Hicks Equity Partners (HEP), a private equity firm led by the Thomas O. Hicks family, announced that its portfolio company, Directional Rentals, Inc., has acquired Reamco, Inc., a company based in Lafayette, La., that manufactures, rents and refurbishes downhole drilling tools and related products.

Directional Rentals, an oilfield services company, has also been renamed Drilling Tools International (DTI). According to the company, the new name more accurately reflects its mission of renting, manufacturing and selling drilling tools, used in bottomhole assemblies, to oilfield services companies, independent directional drillers and exploration companies, both onshore and offshore.

Reamco specializes in the manufacture and refurbishment of stabilizers, drill collars, reamers and related products, and also offers grinding and hardfacing capabilities. The firm maintains key certifications from the API, and is ISO certified.

Reamco’s previous owners, Brent Milam and Ashley Lane, have become shareholders in DTI and have joined the company’s management team. Milam founded Reamco in 1985, and has served as the company’s president since that time. Lane was instrumental in Reamco’s founding, and returned to the company as CEO in 2011, after leading Drilling Logistics, Inc., for several years.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By O'Niel Petroserve Nigeria Ltd, online.