$100 million protection: Funds from the settlement over BP’s Gulf of Mexico oil spill in 2010 will be used to construct a permanent flood control structure in Bayou Chene. As The Houma Courier reports, the structure will protect St. Mary and several other parishes, including Terrebonne, Lafourche and Assumption. The announcement came Tuesday. The floodgate is expected to cost about $100 million. It will replace a temporary barge gate built in 2011 when the Atchafalaya River flooded. The Houma Courier has the full story.
Big buy: Schlumberger Ltd has agreed to buy oilfield equipment manufacturer Cameron International Corp for $14.8 billion. Cameron makes products used by oilfield services providers, including blowout preventers and pressure control valves for oil and gas sites. The cash-and-stock deal values Cameron at $66.36 per share. Cameron shareholders will get $14.44 in cash and 0.716 of a Schlumberger share for each Cameron share held. Reuters has the full story.
Healthy merger: Hospital staffing service companies Schumacher Group and Hospital Physician Partners announced this morning they have completed their merger. Hospital Physician Partners will fold into the Lafayette-based Schumacher Group, giving the new company a presence in 358 hospitals in 29 states caring for nearly 6 million patients each year. The financial terms of the deal were not released. Investment partner Onex is also part of the deal.
