GlobaLogix Closes First Acquisition

By Houston Business Journal

Houston oilfield control and automation company GlobaLogix Inc. has acquired Blast Energy Servicesâ¿¿ satellite services division for an undisclosed amount.

The acquisition is the first for the six-year-old company, and adds the satellite communications offering to GlobaLogixâ¿¿s data gathering and reporting systems.

The deal with Houston-based Blast Energy includes solutions for pipelines, wellhead automation, drilling rigs and business continuity applications, and also includes a client base of several major gas pipeline and oilfield service companies.

GlobaLogix will take over the existing client base, contracts and inventory as well as operation of the Blastâ¿¿s Network Operations Center in Houston.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/05/globalogix-closes-first-acquisition.html?ana=thestreet

Copyright bizjournals.com 2010

More from Commodities

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets