AGR, Horton look toward HT/HP development

The AGR Group has continued its acquisitions activity by taking 51% interest in Horton Technologies Inc. According to the combined companies, they plan to design and develop a drilling and production unit suitable for deepwater, high temperature/high pressure fields.
Jan. 5, 2007

Offshore staff

STRAUME, Norway --The AGR Group has continued its acquisitions activity by taking 51% interest in Horton Technologies Inc. According to the combined companies, they plan to design and develop a drilling and production unit suitable for deepwater, high temperature/high pressure fields.

"The new company, AGR Deepwater Development systems, will provide the operators with the means for evaluating reservoir performance through long term production testing prior to making major capital decisions," says Ed Horton, chairman and CEO of Horton Technologies.

"This investment in Horton Technologies brings together the complementary skills and strengths of AGR Group and Horton to develop a new drilling and production platform for deepwater high pressure/high temperature fields and, in addition, gives AGR Group further market penetration in the key Gulf of Mexico market," says Erling Storaune, CEO of AGR Group in the Americas.

01/05/2007

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