Caddo International Inc., Oil City, La., (Pink Sheets: CADD) has canceled further examination of the DKG-East ZRT oil and gas equipment project in Hungary. The company feels there are more lucrative projects available domestically and in the service and supply sector of the industry.

Dynamic Materials Corp., Boulder, Colo., (Nasdaq: BOOM) a manufacturer of explosion-welded plates, has acquired privately held, German-based DYNAenergetics, a manufacturer of clad-metal plates and explosives-related oilfield products, for a total deal value of approximately $96.6 million.

Dynamic paid $83.4 million in cash, assumed approximately $2.8 million in debt, and the remainder in stock. DYNAenergetics had sales of approximately $73.3 million for its fiscal year ended Sept. 30.

DMC entered a dollar- and euro-denominated credit facility valued at approximately $100 million. DMC borrowed approximately $65 million under the new facility to fund a portion of the purchase price. JP Morgan was the lead credit arranger for this seven-bank facility. Green Manning & Bunch was financial advisor.

Hercules Offshore Inc., Houston, (Nasdaq: HERO) plans to acquire nine land rigs and related assets from Petrex Sudamerica Sucursal de Venezuela SA and Saipem Perfuracoes e Construcoes Petroliferas Lda. for approximately US$107 million. The assets include six land rigs in Venezuela, one in Trinidad and two in the United States.

Hercules Offshore chief executive Randy Stilley says the rigs were assets from the company's recent acquisition of Todco.

The deal is expected to close by year-end 2007.

Motion-and-control systems manufacturer Parker Hannifin Corp., Cleveland, Ohio, (NYSE: PH) has acquired Scan Subsea ASA, Oslo, (Oslo: SCASUB) for an undisclosed amount in stock.

Scan Subsea designs and produces power and production umbilical cables for subsea installations and mooring lines for floating-oil production and exploration units. The company has a manufacturing site in Tonsberg, Norway, and employs approximately 200 people. It has projected sales of approximately US$130 million this calendar year.

Houston-based oil-services provider Schlumberger (NYSE: SLB) will acquire the 12.7% interest of Eastern Echo Holding Plc, Cypress, (Oslo: ECHO) held by geophysical company CGGVeritas, Paris (NYSE: CGV). Veritas purchased the Eastern Echo shares in a white-knight move following a takeover bid by Schlumberger. Veritas is selling the shares in response to Schlumberger's new cash offer of 15 Norwegian kroners per Eastern Echo share for a total price of US$833.3 million.

Schlumberger, Houston, (NYSE: SLB) has acquired an additional 5.5% interest in Norway-based Framo Engineering AS for an undisclosed price, taking its holdings to a majority 52.75%. Framo manufactures multiphase booster pumps, flow-metering equipment and swivel stack systems. Frank Mohn AS, Bergen, Norway, holds the remaining shares.

Marine-support-services company Trico Marine Services Inc., Houston, (Nasdaq: TRMA) has closed its acquisition of Norway-based Active Subsea ASA (NOTC: ASUB) for US$247 million in cash.

Active Subsea is an offshore-services company with eight medium-sized VS 470 multi-purpose service vessels on order for delivery in second-quarter 2008 and first-quarter 2009. The vessels support subsea services, including inspection, maintenance and repair work using remotely operated vehicles, dive and seismic support and light construction activities. Active Subsea has three long-term contracts. The acquisition doubles Trico's fleet of similar vehicles.

With the acquisition, Trico will establish a new division, Trico Subsea, to operate these and other subsea vessels in the Trico fleet. Active Subsea management will continue to supervise the construction of the vessels and participate in marketing efforts for a transition period.

Lazard was financial advisor to Trico.