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Eni Moves to Drones for Facility Inspections - Oil & Gas 360

Eni Moves to Drones for Facility Inspections

Drones replace worker risk, shorten inspection time, provide cloud-based inspection reports Eni (ticker: E), the Italian oil and gas major that operates 9,241 active wells worldwide, has contracted with Sky-Futures, a British drone-based industrial inspection company to inspect Eni’s facilities globally using drones. The work represents a three-year contract between the energy producer and the drone technology company. This is the first[Read More…]

EnerCom Dallas investment conference

What’s not to Love? EnerCom Dallas Showcases Oil Producers in Southeastern Europe, U.S., Canada, South America

Strong EnerCom Dallas conference registrations point to 2017 energy sector uptick EnerCom Dallas, EnerCom’s Texas-based oil and gas investment conference, will bring together a slate of upstream producers and oilfield technology innovators working in key global oil and gas jurisdictions. If registrations from the institutional investment community are any indication, the energy sector should be looking for a banner year in 2017.[Read More…]

Scotland Launches Decommissioning Fund for North Sea Platforms, Pipelines

Scotland Launches Decommissioning Fund for North Sea Platforms, Pipelines

Looking to spur business activity in Scotland for decom projects Scotland’s First Minister has launched a new £5 million fund that will provide opportunities for the supply chain in Scotland to benefit from the decommissioning of North Sea infrastructure. The Decommissioning Challenge Fund (DCF) will support infrastructure upgrades and innovation in salvage and transport methods at Scotland’s ports and harbors. It will[Read More…]

The Capital Markets are Open to Oil & Gas: PLS

The Capital Markets are Open to Oil & Gas: PLS

PLS Capitalize™ Report: Oil & gas industry raised $186 Billion through U.S. public offerings in 2016; PLS predicts surge in M&A activity in 2017 Houston’s oil and gas research firm PLS Inc. provided the following statistical review of capital markets activity today, with the help of its capital markets tracking platform Capitalize™. Highlights of the PLS Capitalize™ report include: Aggregate[Read More…]

Weatherford Cuts U.S. Frac Business to Reduce Costs

Weatherford Cuts U.S. Frac Business to Reduce Costs

Pressure pumping sale to be completed by 2018 Weatherford International (ticker: WFT) announced the suspension of its U.S. pressure pumping business in its conference call February 1. The U.S. pressure pumping sector was suspended in the middle of Q4 2016 as a cost-cutting measure, according to Weatherford CEO Krishna Shivram. Weatherford’s elimination of frac services is expected to be a[Read More…]

February 6, 2017 - 4:52 pm 360 Articles, Closing Bell Story, Oilfield Services
EnerCom Dallas investment conference Mar 1-2 2017

EnerCom Dallas Announces Conference Presenters and Agenda

Oil & Gas Company Chief Executives, Financial Analysts, Economists, Energy Investors will gather at EnerCom Dallas on March 1-2, 2017 EnerCom’s first Texas-based oil and gas investment conference—EnerCom Dallas—will kick off on March 1, 2017. EnerCom Dallas will feature presentations from C-level executives at publicly traded and private oil and natural gas companies, as well as energy experts and analysts who will[Read More…]

Core Lab Q4 Conference Call: Industry Bottomed in Q3

Core Lab Q4 Conference Call: Industry Bottomed in Q3

Q3 2016 marked the bottom of the V-shaped recovery which is now under way In the company’s Q4 conference call this morning’s , Core Laboratories (ticker: CLB) CEO David Demshur and other members of the CLB executive team laid out their company’s view of where the oil and gas industry stands today and their thoughts on where it is heading in 2017. After[Read More…]

EnerCom Dallas investment conference Mar 1-2 2017

EnerCom Dallas Presenters Include E&Ps Developing Assets in North and South America

EnerCom, Inc. is hosting the EnerCom Dallas investment conference on March 1-2, 2017. Presenters include exploration and production companies and oilfield technology companies working in the major North American oil and gas basins, Latin American plays and global energy projects. In addition to Bakken pioneer Whiting Petroleum (NYSE: WLL) and reservoir optimization leader Core Laboratories (NYSE: CLB), EnerCom Dallas presenters include Mid-Continent[Read More…]

January 25, 2017 - 5:39 pm 360 Articles, Closing Bell Story, E&P, Oilfield Services
North American Operators Drive Halliburton Recovery

North American Operators Drive Halliburton Recovery

Efficiency is way more important than pricing: Lesar Halliburton (NYSE: HAL) released its fourth quarter 2016 results Monday, reporting numbers that indicate that the recovery is well underway in North America’s oil and gas sector. Improved pricing in the second half of the year saw E&P companies drilling more wells, which led to higher demand for Halliburton’s services and a[Read More…]

U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

Quick Take: 2017 Oilfield Service and Drilling Outlook from Bloomberg Intelligence Bloomberg Intelligence (BI) analysts Andrew Cosgrove and William Foiles presented a briefing today on the outlook for U.S. oil services and drilling. Bottom line: U.S. shale developers will lead a rebound in oilfield service activity in 2017. Oil Price and CapEx Outlook The Bloomberg analysts expect the global oil[Read More…]

Patterson-UTI Energy Inc. and Seventy Seven Energy to Merge

Patterson-UTI Energy Inc. and Seventy Seven Energy to Merge

Service Company Makes Big Push into Land Drilling High Spec Rigs and Pressure Pumping Patterson-UTI Energy Inc. (ticker: PTEN) and Seventy Seven Energy Inc. (ticker: SVNT) today jointly announced that they have entered into a definitive merger agreement in which PTEN will buy SVNT through an all-stock transaction. Both companies build and operate high-spec rigs. The combined company will be called Patterson-UTI, with[Read More…]

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

Precision Drilling Announces its 2017 CapEx Plan

Precision Drilling has 110 drilling rigs currently running in North America: seeing strengthening demand – 45 rigs under contract for 2017; company has filled 1,000 positions Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million. The company said its 2017 capital expenditure plan would be allocated as follows: $51 million to upgrade existing rigs,[Read More…]

December 5, 2016 - 5:19 pm 360 Articles, Canada, Closing Bell Story, Oilfield Services
Baker HuGE:  Oilservice Leader Baker Hughes and GE Oil and Gas to Combine as $32 Billion Company

Baker HuGE: Oilservice Leader Baker Hughes and GE Oil and Gas to Combine as $32 Billion Company

Consolidation Will Create a Services Company “Ideally Positioned to Grow in any Market” Baker Hughes (ticker: BHI) will merge with GE’s (ticker: GE) oil and gas segment, forming a new company called Baker Hughes, A GE Company, with $32 billion in revenues, the two companies announced today. Today’s news follows the unraveling of BHI’s attempted merger with Halliburton (ticker: HAL)[Read More…]

We Have Indeed Reached the Bottom of the Cycle: SLB’s Kibsgaard

We Have Indeed Reached the Bottom of the Cycle: SLB’s Kibsgaard

But expect rising service costs and stricter return hurdles Paal Kibsgaard, CEO of the world’s largest oilfield service provider Schlumberger (ticker: SLB), gave his assessment of the global oil and oil services markets during the company’s third quarter conference call. “The business environment stabilized as expected in the third quarter, confirming that we have indeed reached the bottom the cycle.[Read More…]

Halliburton Executives Lay Out E&P/Oilservice Landscape for Q4 and 2017

Halliburton Executives Lay Out E&P/Oilservice Landscape for Q4 and 2017

Halliburton: things are getting better for us and our customers In Halliburton’s (ticker: HAL) Q3 2016 conference call today, CEO Dave Lesar characterized the business climate in Q3 for the company and gave some hints about where the industry feels like it is heading in Q4 2016 and into 2017. The following excerpts are from Lesar’s and other HAL executives’[Read More…]

October 19, 2016 - 6:56 pm 360 Articles, Closing Bell Story, E&P, Oilfield Services
Source: WPX

Warren Buffett Continues Accumulating Oilfield Stocks

Phillips 66 is Buffett’s 6th Largest Holding – 79 million shares Last year, Warren Buffett made his first purchase of Phillips 66 (ticker: PSX) stock amid the depletion in oil prices and the consequent depletion of oilfield service stocks. Oil refiner Phillips 66 now represents a major holding for Berkshire Hathaway (ticker: BRK), the sixth-largest holding in the company portfolio.[Read More…]

August 29, 2016 - 5:34 pm 360 Articles, Closing Bell Story, Oilfield Services
Pioneer Energy Services – Day Three Breakout Notes

Pioneer Energy Services – Day Three Breakout Notes

Pioneer Energy Services presents at EnerCom’s The Oil & Gas Conference®  During Pioneer Energy Services’ breakout session, management was asked the following questions: What do you think the state of the industry really is? What type of rigs will get the best utilization going forward? Do you see competition from walking converted SCR rigs? How are you doing on crews?[Read More…]

August 18, 2016 - 10:00 am 360 Articles, Closing Bell Story, Oilfield Services, TOGC21
RigUp, Inc. to Present at the EnerCom Conference August 16th

RigUp, Inc. to Present at the EnerCom Conference August 16th

RigUp is a private technology company that operates the largest online marketplace for oilfield services. RigUp’s network spans 150 E&Ps and 11,000 service companies, with $250 million in monthly-awarded work being transacted on the platform. Over the past 18 months, RigUp has seen activity grow across all of the major shale plays in the U.S. RigUp’s digital platform addresses many of the[Read More…]

Core Laboratories – Day One Breakout Notes

Core Laboratories – Day One Breakout Notes

Core Laboratories presents at EnerCom’s The Oil & Gas Conference®  During the Core Laboratories breakout session, management was asked the following questions: Can you talk about what you see in world supply and demand curves? Specifically how do you see the balance of the demand? World production hovers around the low to mid 90’s you use 85, why? Is miscible[Read More…]

August 15, 2016 - 3:01 pm 360 Articles, Closing Bell Story, Oilfield Services, TOGC21
EnerCom Conference Presenter Focus: Core Laboratories

EnerCom Conference Presenter Focus: Core Laboratories

Core Laboratories will present at EnerCom’s The Oil & Gas Conference® on Mon. Aug. 15, 2016. Core Laboratories (ticker: CLB) is a leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services used to optimize petroleum reservoir performance. The Company has 70 offices in more than 50 countries and operates in every major oil-producing region in[Read More…]

Technology-Driven Drilling Service Companies who are Preemptive, Predictive Will Prevail: Helmerich & Payne

Technology-Driven Drilling Service Companies who are Preemptive, Predictive Will Prevail: Helmerich & Payne

The Days of “Show Up and Fix It” are Over: Lindsay Ninety-six year old Tulsa-based Helmerich & Payne (ticker: HP) reported its third quarter results today and on the conference call CEO John Lindsay expressed confidence that the company will be able to respond the industry demand for not just more rigs, but answer the need for much better rigs. “We believe[Read More…]

July 28, 2016 - 7:02 pm 360 Articles, Closing Bell Story, Oilfield Services
Industry Needs Minimum of Upper $50s for Sustainable Recovery: BHI

Industry Needs Minimum of Upper $50s for Sustainable Recovery: BHI

But BHI Chairman Predicts “Continued Uncertainty” in Global Oil Markets Before the markets opened today, Baker Hughes (ticker: BHI) hosted the company’s second quarter conference call. BHI reported an adjusted net loss of $0.90 per share, with revenue falling 39.3% year over year to $2.41 billion. Baker Hughes said it was hurt by a “continued steep decline” in drilling activity[Read More…]

We Found the Bottom, but Don’t Expect an Easy Recovery – Schlumberger

We Found the Bottom, but Don’t Expect an Easy Recovery – Schlumberger

Schlumberger CEO Paal Kibsgaard pessimistic on underlying industry performance During the second quarter conference call for the world’s largest oilfield service provider, Schlumberger (ticker: SLB) CEO Paal Kibsgaard said that oil markets had found bottom, but that the road to recovery could be long and daunting. Problems remain within the industry, Kibsgaard said, and the downturn has not created long-term[Read More…]

Core Lab Stands by Decline Curves, V-Shaped Recovery

Core Lab Stands by Decline Curves, V-Shaped Recovery

Core Lab Reports 2Q Oilfield services firm Core Laboratories (ticker: CLB) announced results from the second quarter 2016 today, reporting adjusted diluted earnings of 35 cents per share on quarterly revenue of $148.1 million. Because of its worldwide customer bank, Core Laboratories is viewed as a company with a firm grasp on the pulse of the industry and among the smartest[Read More…]

July 21, 2016 - 6:20 pm 360 Articles, Closing Bell Story, Oilfield Services
Halliburton Calls Q2 the Bottom, Gets Ready to Gear Up

Halliburton Calls Q2 the Bottom, Gets Ready to Gear Up

You can’t underestimate the positive change in attitude that we are seeing in our North American customers, they’re getting back to business: Lesar Oilfield service giant Halliburton (ticker: HAL) announced its second quarter results today, reporting a larger loss than in the first three months of the year, but the company’s management was clearly optimistic that this quarter represented what[Read More…]

Bam! It’s Earnings Season Again – Q2’16 Estimates

Bam! It’s Earnings Season Again – Q2’16 Estimates

EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 201 E&P and OilService companies in our database. Click here for the full chart of estimates. The median OilServices company earnings estimate for the quarter ending June 30, 2016, is ($0.13) per share compared to actual earnings per share of ($0.11)[Read More…]

Merger Fallout: 6 Williams Directors Jump Ship

Merger Fallout: 6 Williams Directors Jump Ship

Following a Delaware judge’s ruling last week that Energy Transfer Equity (ticker: ETE) could walk away from the Williams Company (ticker: WMB) merger, and Energy Transfer’s official cancellation of it, the fallout from the decision is coming full circle. Six of Williams Company’s directors, including the company’s chairman, resigned on Thursday following a failed attempt to oust the CEO, according[Read More…]

Use of Water-Based Drilling Fluids on the Rise: Report

Use of Water-Based Drilling Fluids on the Rise: Report

Drilling Fluids Market Dips to $8 Billion in ’15, but Rise of WBF and Foam-based Muds are Coming on Strong thanks to Environmental Regulations The global drilling fluids market size was valued at USD 7.98 billion in 2015, a slump from the previous year due to declining oil industry activity, San Francisco’s Grand View Research said in a new report. No surprises[Read More…]

June 28, 2016 - 7:18 pm 360 Articles, Closing Bell Story, Oilfield Services
Does Increase in Oil Service Activity Indicate an Uptick?

Does Increase in Oil Service Activity Indicate an Uptick?

Oil prices have been on the rise over the course of the last several months, and for the first time in a long time, rig count has been moving up instead of down. With the price reaching $50 a barrel, the expectation is that oil and gas producers will likely stand rigs back up and put frac crews back to[Read More…]

Say Goodbye to Hercules Offshore

Say Goodbye to Hercules Offshore

HERO Re-enters Chapter 11 with Plans to Dissolve the Company Hercules Offshore (ticker: HERO) announced today that it has decided to return to Chapter 11 bankruptcy less than seven months after the company’s initial bankruptcy claim. Hercules plans to dissolve the company and sell all remaining assets instead of restructuring and staying in business. Hercules said in a press release[Read More…]

May 27, 2016 - 4:02 pm 360 Articles, Closing Bell Story, Oilfield Services