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Hart Energy E&P

Editor's note: This "On the Move" section appears in the new E&P newsletter. This weekly section highlights new hires, appointments, retirements and promotions as well as company news such as new office locations and major M&A deals. Submit your company news to Ariana Hurtado at ahurtado@hartenergy.com. Subscribe to the E&P newsletter here.

PEOPLE

Intelligent Wellhead System has appointed William Standifird CEO and Gary Cresswell non-executive chairman of the board.

Coretrax has named Arthur Stautzenberger the first Norway country manager.

COMPANIES

Chesapeake Energy Corp. has acquired Vine Energy Inc. 

Sourcewater is changing its name to Sourcenergy to convey its range of offerings in detecting and analyzing energy activity and infrastructure and to show its support for the energy transition. 

Liberty Oilfield Services Inc. has acquired PropX in a cash-and-stock transaction valued at $90 million. PropX offers environmentally friendly technology with optimized dry and wet sand containers and wellsite proppant handling equipment that are designed to drive logistics efficiency and reduce noise and emissions, positioning Liberty as an integrated provider of completion services. Read more here.

ServiceMax Inc. has acquired LiquidFrameworks, a mobile field operations management solutions company specializing in the energy industry, from Luminate Capital Partners. The total purchase price was $148 million, on a cash and debt free basis, subject to working capital adjustments. 

Phillips 66 and Phillips 66 Partners have entered a definitive agreement to acquire all publicly held common units representing limited partner interests in the partnership not already owned by Phillips 66 and its affiliates. The transaction is expected to close first-quarter 2022.

EAG 1Source has opened its second office. The new office is located in Tulsa, Okla. It has nine employees, and that number is expected to triple by the end of 2022. The office employees include land administration, division order and accounting professionals. Beyond Oklahoma and Texas (the original office location), EAG supports assets located in Montana, Wyoming, North Dakota, Utah, Colorado, New Mexico, Louisiana, Kansas, Ohio, Pennsylvania and West  Virginia.

X-Academy will provide training opportunities for hundreds of people to work directly on initiatives to reduce emissions and accelerate efforts toward net zero, led by energy consultancy Xodus. The two-year mentored placements in Aberdeen will be open to graduates and people looking to reskill for positive change with 24 participants expected in the first cohort. Non-profit X-Academy will reinvest training profits into further skills development, climate projects and innovations.