Friday, July 17, 2026

Weatherford Sells U.S. Fracturing Business

Deal replaces proposed OneStim JV Weatherford (ticker: WFT) announced the sale of its U.S. pressure pumping business today, completing a major portion of the company’s refocusing project. Schlumberger (ticker: SLB) will pay Weatherford $430 million in cash for Weatherford’s U.S. pressure pumping and pump-down perforating related facilities and contracts. Weatherford will retain its multistage completions portfolio, manufacturing capability and supply

Norwegian Barents Sea Cools as Oil Companies Look Elsewhere

11 companies applied for licenses Norway announced the applicants for its 24th licensing sale, showing a significant decrease in interest in the country. The round offers blocks in the Barents Sea, which is considered the most important area in the country for new development. In December 2017, eleven companies applied for production licenses, either alone or in groups. Some, like

Supermajors Expect Billions in Charges from Tax Overhaul

Congress’s new tax legislation has kept accountants busy through the holidays, as companies analyze how the new law will affect earnings and operations. The headline provision of the legislation cuts corporate rates from 35% to 21%, reducing overall tax burdens. While accountants are still determining the overall effect of the bill, Shell (ticker: RDS) and BP (ticker: BP) have each