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WellDog, Excel sign MOU for services in China

WellDog, Excel sign MOU for services in China

Wednesday, July 27, 2011

WellDog, Excel sign MOU for services in China
By Wyoma Groenenberg - Wyoming Business Report


LARAMIE - WellDog and Excel Team Holdings announced Tuesday that they have signed a Memorandum of Understanding under which Excel will introduce WellDog's suite of technical services to the fast-growing coal bed methane (CBM) and shale gas markets in China.

"This is an exciting moment for both companies as China is gearing up unconventional gas (CBM) activities in its 12th five-year plan," said Peter Ho, Chairman and CTO of Excel. "Our group will be acting as a main technology bridge between CBM technology groups, such as WellDog, that are engaged in exploiting China's vast unconventional gas resources.”

The MOU covers all of WellDog's business lines, including its award-winning pre-production gas testing services, its established pressure monitoring sales and installation services, its new permeability testing services, and its reservoir engineering services, as well as its business line based around a sustainably-focused downhole water/gas separation and re-injection technology.

"We've been examining the China market landscape for two years, and Excel is exactly the market entry channel that we've been seeking," said John M. Pope, Ph.D., president and CEO of WellDog. "Rational investigation indicates that China will become the leading unconventional gas market soon — both as a consumer and as a producer."

Excel recently announced that it has opened up a new Unconventional Gas Research Centre in Harbin, China, which will provide a platform for CBM technology providers, such as WellDog, to showcase and demonstrate CBM expertise.

WellDog’s U.S. headquarters are located in Laramie, and the Asia Pacific Regional Headquarters are in Brisbane, Queensland, Australia.

In other U.S.-foreign business news, FMC Corp. has announced that the company has entered into a definitive agreement to acquire the European persulfates business of RheinPerChemie GmbH from Unionchimica SpA.

The acquisition will strengthen FMC Peroxygens' global reach by establishing a market position for persulfates in Europe, a company release says.

"We are extremely pleased with the first step of our Vision 2015 strategy that will allow us to globalize our specialty peroxygens franchises in environmental, electronics, food safety and other applications," said Mark Douglas, president of FMC Industrial Chemicals.

RheinPerChemie manufactures persulfates, which are ions or compounds with more oxygen than normal sulfates, in Rheinfelden, Germany, and has a sales office in Hamburg, Germany.

FMC expects to close the sale by year-end. Terms of the sale were not disclosed. The company is a diversified chemical company serving agricultural, industrial and consumer markets globally.


Wyoming Business Report