WellBid Inc. and eNersection are merging, and will become Wellogix Inc., which will provide tools for expediting intercompany exchange of enterprise data, streamlining workflow and collaboration, and transacting complex, engineered services via the Internet. The Beacon Group Energy Investment Fund II, which led an investment round in WellBid in May, will invest $8- to $10 million in the new company. eOilfield.com, Lake Charles, La., an e-commerce, business-to-business portal serving the oil and gas industry, has launched its online oilfield equipment auction site. PetroCosm Corp., Houston, a global business-to-business e-commerce marketplace for the oil and gas industry, is now live at Petrocosm.com. Englewood, Colo.-based Oil & Gas Asset Clearinghouse, a wholly owned subsidiary of Petroleum Place, sold $12.4 million of properties at its June 14 auction. Toreador Resources Corp., Dallas, has acquired a 35% interest in EnergyNet.com Inc. EnergyNet auctions oil and gas properties on a real-time, online basis.
Recommended Reading
US Drillers Cut Oil, Gas Rigs for Second Week in a Row
2024-08-23 - The oil and gas rig count fell by one to 585 in the week to Aug. 23. Baker Hughes said that puts the total rig count down 47, or 7% below this time last year.
FourPhase Secures Three New Contracts in UK and UK Continental Shelf
2024-08-22 - The contracts include coiled tubing and de-sanding services for operators in the U.K. Continental Shelf.
Hess Seeks Partnership for Suriname Block 59
2024-08-22 - Hess Corp. is seeking a new partner or partners to join in Suriname’s offshore Block 59 after Exxon Mobil and Equinor each gave up their one-third interests last month.
How Liberty Rolls: Making Electricity, Using NatGas to Fuel the Oilfield
2024-08-22 - Liberty Energy CEO Chris Wright said the company is investing in keeping its frac fleet steady as most competitors weather a downturn in oil and gas activity.
OPEC Gets Updated Plans From Iraq, Kazakhstan on Overproduction Compensation
2024-08-22 - OPEC and other producers including Russia, known as OPEC+, have implemented a series of output cuts since late 2022 to support the market.