Page 13 - NorthAmOil Week 48

NorthAmOil
NEWS IN BRIEF
NorthAmOil
extendsthroughJanuary15,2020,andmay be extended further by a majority of the holders party to the forbearance agreement. McDermott is in discussions with additional holders of the 2024 Notes and anticipates that additional holders may execute the forbearance agreement in the coming days.
The Tranche B funding is expected to
allow McDermott to continue collaborative discussions regarding a long-term balance sheet solution. In connection with the Tranche B funding, the required lenders have agreed
to amendments to the Agreement that would waive certain conditions and modify cross- default provisions in order to facilitate the Tranche B funding.
McDermott continues to pursue the previously announced strategic alternatives process for Lummus Technology. MCDERMOTT INTERNATIONAL, December 02, 2019
EndeavorEnergyResources to unite 10 divisions on IFS applications for oilfield services ERP
IFS, the global enterprise applications company, announces that Midland, Texas- based Endeavor Energy Resources has purchased IFS ApplicationsTM as the new ERP system of record for its oilfield services division.
Endeavor Energy Resources is one of the top 10 oil and gas producers in Texas’s Permian Basin, and the Endeavor’s Energy Services Division provides steady access and stable pricing to support Endeavor’s hydrocarbon exploration production operations.
After a rigorous selection process, Endeavor chose IFS Applications in the
MicrosoftAzurecloud.
Endeavor’s hydrocarbon production has
increased significantly over the last twelve months and IFS Applications was chosen to streamline services in the field to enable the Energy Services Division to deliver more value while containing operational cost. To do this, the Energy Services Division needed to unite its various business operations -including well services, vehicle maintenance, manufacturing, facility construction, cased hole work and facility maintenance and other miscellaneous work-on a single enterprise system, running in the cloud. Endeavor’s Energy Services Division needs to support both internal asset management as well as billable field service as it performs work for Endeavor’s hydrocarbon exploration and production operations as well as external customers.
IFS, December 03, 2019
Week 48 04•December•2019
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