American Oil and Gas Reporter - April 2024 - 84

IndustryFocus: Companies, People and Products
ProPetro Joins Coalition To Invest In Communities
MIDLAND-The Permian Strategic
Partnership, a group focused on improving
quality of life in the Permian Basin, announces
that ProPetro Services has joined
as its 28th member.
Through public-private partnerships,
PSP calculates it has committed more than
$160 million in member company contributions
to support more than $1.5 billion
in transformative investments. These efforts
have profoundly impacted the region's
public schools, healthcare systems, road
safety and infrastructure, and workforce
development opportunities, PSP relates.
" We are excited to join the Permian
Strategic Partnership and to work with
growth investment from Black Bay Energy
Capital, Capture Energy LLC says it will
be able to rapidly increase production of
the Capture Compressor™, a patent-pending
equipment offering designed to eliminate
emissions associated with pneumatic control
valves and associated infrastructure.
" The Capture Compressor addresses
a major pain point in the oil and gas industry
today: how to achieve emissions
reduction goals from production facilities
in a cost-efficient and operationally sound
Caterpillar Uses Batteries
To Shrink Rigs' Fuel Costs
HOUSTON-Caterpillar Oil & Gas
says it has launched the Cat®
Hybrid Energy
Storage Solution to help drillers and
operators cut fuel consumption, total cost
of ownership and environmental impacts.
The custom-designed system uses a
heavy-duty battery to store excess power
from the job site and then discharges it
as needed, Cat describes. According to
the company, combining the storage system
with a gas genset can deliver transient
responses even quicker than those of conventional
diesel-only rigs.
Depending on site configuration, the
hybrid ESS has proven it can reduce fuel
costs as much as 30% when running on
natural gas and as much as 85% with field
gas, Caterpillar reports. The system reduces
nitrous oxide emissions as much as 80%
and carbon dioxide equivalent emissions
up to 11% with natural gas or up to 7%
with field gas, the company adds.
For more information, visit
www.cat.com/hybridess. ❒
84 THE AMERICAN OIL & GAS REPORTER
(PSP President and Chief Executive Officer)
Tracee Bentley, her team and the
other PSP members, " comments Sam
Sledge, ProPetro's CEO. " Given ProPetro's
history and ongoing significance in the
Permian Basin, partnering with PSP to
improve the lives of our employees and
the broader Permian Basin community is
consistent with who we are as a company.
Working with PSP and its other members
is another way to further enhance our
long-term objectives of making the Permian
Basin a great place to work and live. "
For more information, visit https://permianpartnership.org
or www.propetroservices.com.
❒
Emission-Free
Compressor Attracts Black Bay's Capital
OKLAHOMA CITY-Thanks to a
manner, " says Dallas Watson, Capture's
chief executive officer. " With the Capture
Compressor, clients won't need to procure
expensive instrument air compressor systems
and backup battery systems; our
patent-pending solution creates high volumes
of compressed air by utilizing the
energy already available on location. Our
system requires zero electricity and produces
zero emissions. "
For more information, visit https://capturecompression.com
or www.blackbayenergy.com.
❒
Startup
To Help Pipelines
Locate Leaks, Blockages
HOUSTON-Following an investment
by Charps LLC and Sonomatic Ltd.,
PipeSense announces it has acquired
pipeline leak detection company ProFlex.
PipeSense mentions that its team has
more than a century of combined experience
selecting, developing and deploying
integrity management technologies for
onshore and offshore pipelines. By using
artificial intelligence, the integrity specialist
says it will provide individually tailored
solutions to address pipeline operational
challenges. The company's website says
its services include monitoring pipelines
for leaks around the clock, scanning previously
unmonitored pipelines to pinpoint
existing leaks, locating leaks during hydrotests
and tracking pigs.
Charps, a U.S.-based pipeline construction
and maintenance contractor, has
invested in the management, deployment,
and research and development for
PipeSense. Meanwhile, inspection and
integrity specialist Sonomatic invested
in hardware development and software
support, PipeSense relates.
For more information, stop by booth
121 during the Williston Basin Petroleum
Conference, call 713-600-6875 or visit
https://pipesense.com.
❒
SLB Is Buying ChampionX For Its Production Services
HOUSTON-SLB and ChampionX
Corp. announce they have signed a definitive
agreement for SLB to purchase
ChampionX in an all-stock transaction.
" Our customers are seeking to maximize
their assets while improving efficiency in
the production and reservoir recovery
phase of their operations, " says SLB Chief
Executive Officer Olivier Le Peuch. " This
presents a significant opportunity for service
providers who can partner with customers
throughout the entire production lifecycle,
offering integrated solutions and delivering
differentiated value. The combination of
ChampionX's strong production-focused
leadership throughout North America and
beyond with our own international presence,
unmatched technology portfolio and history
of innovation will drive tremendous value
for our customers and stakeholders.
" Our core strategy remains centered on
meeting growing energy demand while
accelerating decarbonization and emissions
reduction through innovation, scale and
digitalization in our core oil and gas business, "
Le Peuch continues. " This acquisition
will expand SLB's presence in the less
cyclical and growing production and recovery
space that is closely aligned with
our returns-focused, capital-light strategy. "
Soma Somasundaram, president and
CEO of ChampionX, comments, " Today's
announcement marks the start of an exciting
next chapter for ChampionX. We have been
on a journey to build the best productionfocused
company in our sector, with a goal
of unlocking energy through our differentiated
products and technology as well as
our strong financial engine. Becoming part
of SLB will give us a much broader portfolio
and the resources and reach to continue to
lead the industry in providing energy to the
world in an economically and environmentally
sustainable way. "
The transaction is subject to ChampionX
shareholders' approval, regulatory
approvals and other customary closing
conditions, SLB and ChampionX note.
They predict the deal will close before
the end of the year.
To replay a conference call about the
acquisition, visit www.slb.com/newscast. ❒
https://permianpartnership.org https://permianpartnership.org http://www.propetroservices.com http://www.propetroservices.com https://capturecompression.com https://capturecompression.com http://www.blackbayenergy.com https://www.pipesense.com http://www.blackbayenergy.com http://www.cat.com/hybridess http://www.slb.com/newscast
American Oil and Gas Reporter - April 2024

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