Proserv Completes Financial Restructuring
Energy services company Proserv announced the completion of its financial restructuring.Through a debt-for-equity exchange and injection of a $50 million investment, the company’s two largest lenders - KKR and funds managed by Oaktree Capital Management, L.P. - will become owners of the company. Proserv said it emerges substantially debt-free and with a well-capitalized balance sheet, enabling it to provide strong, life-of-field support to its global customers. In the first four months of 2018, the company has already secured more than $40 million of contracts.As part of the restructuring…
US Solar Industry's Growth Region: Trump Country
President Donald Trump's administration has vowed to revive the coal industry, challenged climate-change science and blasted renewable energy as expensive and dependent on government subsidies. And yet the solar power industry is booming across Trump country, fueled by falling development costs and those same subsidies, which many Republicans in Congress continue to support. Data provided to Reuters by GTM Research, a clean energy market information firm, shows that eight of the 10 fastest-growing U.S.
Significant Advances in Well-SENSE Technology
Aberdeen-based downhole technology specialist, Well-SENSE Technology Ltd has announced a major breakthrough in the progression of its ground-breaking FibreLine Intervention (FLI) technology. After a period of intense development, the system has recently exceeded expectations whilst undergoing rigorous testing and trials. It’s been proven that fibre optics can be repeatedly and reliably retrofitted into a well using the FLI system. An integral part of the testing was to perform Distributed Acoustic Sensing (DAS) surveys across the installed fibre optic line.
Rolls-Royce Merges 2 Subsidiaries for Better Engine Life Management
Rolls-Royce today announced the merger of two wholly owned subsidiaries, Aero Engine Controls (AEC) and Optimized Systems and Solutions (OSyS), to form a new business, Controls and Data Services (CDS), which will continue to operate as part of the Rolls-Royce Group. The new business will bring together equipment sensors, controls and monitoring systems with performance analysis and health management services, delivering greater asset intelligence at a faster pace. Colin Smith, Rolls-Royce, Director of Engineering and Technology…
