Page 15 - NorthAmOil Week 13 2021

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will work together to bring these new
products to market, including sales, service
and support.
“Introducing a global cloud-based
data solution, built by Schlumberger and
Microsoft, means the energy industry can
fully embrace their digital transformation
with confidence. By working together, we
have opened access to data and AI, unlocking
significant potential for productivity
increases and performance gains across all
domains,” comments Hinda Gharbi, executive
TX. The aggregate purchase price of the in OMP GP with the remaining 12,949,644 vice president Services and Equipment,
Transaction was approximately $420mn. common units issued directly to OMS Schlumberger. “These new possibilities and
SURGE ENERGY US HOLDINGS COMPANY, April Holdings. opportunities have become a reality today; our
01, 2021 OASIS MIDSTREAM PARTNERS, March 30, joint solution is available for deployment on
2021 Azure across the globe. Our industry can now
quicken the pace of innovation to accelerate
MIDSTREAM the digital future of energy.”
SERVICES “Our expanded partnership with
Oasis Midstream Partners Schlumberger and Schlumberger underscores the vision we
share to help the energy industry’s digital
completes acquisition of Microsoft expand transformation,” said Scott Guthrie, executive
vice president, Cloud + AI, Microsoft. “By
midstream interests from partnership to bring open, harnessing AI technologies, companies can
simplify their data to gain valuable insights
Oasis Petroleum and IDR enterprise-scale data and streamline workflows. Built on Azure,
and open and interoperable by design, these
elimination new solutions and platforms will enable every
customer and partner in the energy industry
Oasis Midstream Partners (OMP) successfully management to the energy to compete and thrive.”
closed the acquisition of all remaining industry SCHLUMBERGER AND MICROSOFT, March 29,
interests in Bobcat DevCo and Beartooth 2021
DevCo from Oasis Petroleum as well as Schlumberger and Microsoft announced
eliminated the partnership’s incentive an expanded strategic partnership to
distribution rights (IDRs) in exchange for accelerate new technologies for the energy MOVES
$231.5mn cash and 14.8mn units for total industry. The first offering, the Schlumberger
consideration of approximately $512.5mn Enterprise Data Management Solution for NextDecade announces
based on OMP’s 20 day volume weighted the OSDU Data Platform – a new industry
average price ending on March 19, 2021. standard for energy data – is available today. issuance of preferred
The simplification also includes a right of Energy companies will now benefit from an
first refusal in favour of OMP with respect OSDU-compliant solution, and the ability to equity to OGCI Climate
to midstream opportunities in the Painted seamlessly connect to the DELFI cognitive
Woods and city of Williston operating areas E&P environment from Schlumberger. The Investments
of Oasis. Closing occurred on Tuesday, March Enterprise Data Management Solution is
30, 2021. Upon closing, OMP’s interest in ready for global customers to deploy on NextDecade announced today that it has
Bobcat DevCo increased to 100% from 35.3%, Microsoft Azure, Schlumberger’s preferred agreed to sell $10mn of Series C convertible
OMP’s interest in Beartooth DevCo increased global public cloud platform for OSDU- preferred stock in a private placement to
to 100% from 70%, and all IDRs were compatible solutions. OGCI Climate Investments Holdings.
eliminated from OMP’s capital structure. The companies’ mutual contributions to OGCI Climate Investments is a fund set
Additionally, on March 30, 2021, OMP the first commercial release of the OSDU up by member companies of the Oil and
successfully closed its private placement to Data Platform establish the foundation of the Gas Climate Initiative (OGCI) to catalyse
eligible purchasers of $450mn in aggregate Schlumberger Enterprise Data Management low carbon ecosystems and deliver carbon
principal amount of 8.00% senior unsecured Solution. Through this partnership they will reduction. One of OGCI Climate Investments’
notes due 2029. enhance the Enterprise Data Management areas of focus is the capture and storage of
Of the total $512.5mn purchase Solution, tighten integration with OSDU carbon dioxide (CCS) in industrial processes
consideration, $231.5mn was financed by the and develop new scalable data ingestion including power generation. The fund invests
notes offering. The remaining amount was capabilities, unified AI templates and domain in projects and technologies that are economic
funded through the issuance of 14,800,000 services. These new joint solutions will be and implementable, helping to demonstrate
common units, 1,850,356 of which were built using industry focused cloud, data and the viability of a global CCS industry.
issued to the holders of Class A and Class AI innovations and domain expertise from Earlier this month, NextDecade
B Units representing membership interests Microsoft and Schlumberger. The companies announced its wholly owned subsidiary,

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