Page 21 - NorthAmOil Week 01 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

workforce in the U.S., Keystone XL is a provide financial flexibility for continued share and intellectual property (IP) to
critical infrastructure project that has evolved strong project execution and pursuit of new complement its already long list of Patented
significantly over the last few years. Today, opportunities. Lighting Products.
Keystone XL is one of the most diversified “With the completion of the capital raise, Josh Allison, CEO of JCA Companies
infrastructure projects in this country,” says McDermott has recapitalised its business and C-MOR™ Energy Services, said: “The
José R. Mas, chief executive officer of MasTec. with the support of its investors,” said David acquisition of LIT will not only increase
PPL will be responsible for hiring an Dickson, president and chief executive officer our market share, but further strengthen
estimated 1,600 union workers over the two- of McDermott. “This additional capital our intellectual property. With multiple US
year construction period. “We are committed solidifies our liquidity position and allows patents granted, several patents pending
to hiring locally and giving priority to us to continue delivering superior project domestically and dozens pending in foreign
qualified local and Indigenous businesses, execution for our customers and pursue new jurisdictions, C-MOR™ Energy Services
and strive to be a leader in promoting growth opportunities. We want to thank our continues to innovate as a commitment to our
opportunities,” says Michael Hyke, vice investors for the confidence they have in clients to improve oilfield safety, reduce costs
president of Midwest Operations at PPL. McDermott and its business model and our and lower carbon emissions. Our IP has stood
PRECISION PIPELINE, January 05, 2020 customers for their continued support.” the test of time from numerous competitors,
MCDERMOTT INTERNATIONAL, January 05, but our customisation, safety standards and
2020 ability to fabricate in-house have really set
SERVICES us apart in terms of providing service and
gaining market share. With this acquisition,
McDermott completes new C-MOR™ Energy Services we remain truly one-of-a-kind when it comes
acquires Location
to innovative oilfield lighting products and IP.”
capital raise for $560mn CROWN LIGHT™ System includes an
C-MOR’s revolutionary PATENTED
McDermott International today announced Illuminator Technologies installed base with almost every major
that on Dec. 31, 2020, it secured $560mn C-MOR™ Energy Services continues to drilling contractor and operator in the world.
in new capital. As announced on Nov. 18, expand its products and services throughout C-MOR’s patented CROWN LIGHT™ System
2020, the new capital was provided through the world with the recent acquisition of is the only one of its kind. The OSHA-
a series of transactions which was secured Location Illuminator Technologies, an oilfield approved CROWN LIGHT™ Systems are
through commitments from certain existing service company specialising in oilfield and saving operators and drilling contractors
lenders and shareholders. McDermott drilling rig location lighting products in East millions annually, while helping to reduce
met all conditions necessary to close these Texas and Louisiana. carbon emissions and improve oilfield safety.
transactions and has strengthened its The strategic acquisition will further C-MOR™ ENERGY SERVICES, January 04, 2021
balance sheet and increased its liquidity to increase C-MOR™ Energy Services’ market

Week 01 07•January•2021 www. NEWSBASE .com P21