Oilfield Services

Patterson-UTI Reports Drilling Activity for December 2019

Patterson-UTI Reports Drilling Activity for December 2019

Patterson-UTI Reports Drilling Activity for December 2019

January 6, 2020 - 6:00 am Oilfield Services, Press Releases
Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Freightwaves


Flatbed truckload operators have been unprofitable for most of 2019

Oil & Gas 360 Publishers Note: We have been watching the Oil Field Service (OFS) take serious losses due to the investor demand for short-term returns. Investors are …

Source: Houston Chronicle

McDermott stock plummets amid rumored bankruptcy talks

Houston Chronicle


Rumors that Houston oilfield service company McDermott International is engaged in bankruptcy talks with lenders sent the company’s stock price plummeting by as much as two-thirds of its value after the close of market on Monday.

In a …

Key Energy Announces Departure of CEO

Key Energy Announces Departure of CEO

Key Energy Announces Departure of CEO

December 30, 2019 - 7:00 pm Corporate Governance, Oilfield Services, People, Press Releases
ION announces CFO transition

ION announces CFO transition

ION announces CFO transition

December 27, 2019 - 4:15 pm Oilfield Services, People, Press Releases, Technology
Source: Reuters

Oilfield service firms have a bearish outlook for 2020: Dallas Fed

Reuters


With their business outlook worsening, about half of oil field service firms plan to cut spending in 2020, the Federal Reserve Bank of Dallas said on Friday in its quarterly energy survey.

Oil and gas activity and employment dipped …

December 27, 2019 - 2:30 pm Closing Bell Story‎, Energy News, Oilfield Services
Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

Sinopec Masters Sinomacs ATS I Steerable Drilling System with major breakthrough in SLOF Oil Field

Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

December 27, 2019 - 1:59 am International, Oilfield Services, Press Releases
Deep Down Announces Share Repurchase Program

Deep Down Announces Share Repurchase Program

Deep Down Announces Share Repurchase Program

December 23, 2019 - 10:02 am Finance, Offshore, Oilfield Services, Press Releases
Flotek Announces New Chairman And CEO

Flotek Announces New Chairman And CEO

Flotek Announces New Chairman And CEO

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

December 20, 2019 - 1:05 pm Oilfield Services, Press Releases
Source: Houston Chronicle

Schlumberger joins UN-sponsored program to reduce greenhouse gas emissions

Houston Chronicle


The world’s largest oilfield service company plans to join a United Nations-sponsored program to reduce greenhouse gas emissions.

In a Thursday afternoon statement, Schlumberger reported that it plans to join Science Based Targets, an emission reduction program sponsored …

December 20, 2019 - 1:00 pm Energy News, International, Oilfield Services
Basic Energy Services announces appointment of Keith L. Schilling as President, Chief Executive Officer and Director

Basic Energy Services announces appointment of Keith L. Schilling as President, Chief Executive Officer and Director

Oil and Gas 360


FORT WORTH, Texas–(BUSINESS WIRE)–Dec. 19, 2019– Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced the appointment of Keith L. Schilling as President, Chief Executive Officer and director, effective January 2, 2020. Mr. Schilling is an accomplished professional …

December 19, 2019 - 4:30 pm Energy News, Oilfield Services, People
Hi-Crush Inc. announces release of inaugural Corporate Responsibility Report

Hi-Crush Inc. announces release of inaugural Corporate Responsibility Report

The report covers all of the Company’s operations, facilities and job sites, in oil and gas basins across the United States including the Permian, Marcellus, Utica, Mid-Con, and others.


 

Hi-Crush Inc. Announces Release of Inaugural Corporate Responsibility Report -oilandgas360Hi-Crush Inc. (NYSE: HCR), or the “Company”, today announced that …

Source: Houston Chronicle

Denver company tests evaporation as solution for oil field wastewater

Houston Chronicle


Denver oil field wastewater company Gradient Energy Services is testing equipment that uses evaporation to reduce the amount of water that needs to be injected in disposal sites deep underground.

In a Tuesday evening statement, Gradient Energy Services …

December 18, 2019 - 3:00 pm Closing Bell Story‎, Energy News, Oilfield Services, Water
Superior Energy Services announces: Reverse stock split; Resumption of trading on the New York Stock Exchange under ticker symbol of “SPN”

Superior Energy Services announces: Reverse stock split; Resumption of trading on the New York Stock Exchange under ticker symbol of “SPN”

Superior Energy Services Announces: Reverse stock split; Resumption of trading on the New York Stock Exchange under ticker symbol of “SPN”

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

December 18, 2019 - 7:00 am Finance, Oilfield Services, Press Releases, Private Equity
Smart Sand, Inc. Announces Long-Term Debt Refinancing Under Combination Equipment Financing and Credit Facility

Smart Sand, Inc. Announces Long-Term Debt Refinancing Under Combination Equipment Financing and Credit Facility

Smart Sand, Inc. Announces Long-Term Debt Refinancing Under Combination Equipment Financing and Credit Facility

December 16, 2019 - 4:05 pm Finance, Fracing, Oil Sands, Oilfield Services, Press Releases
Source: Houston Chronicle

Weatherford emerges from bankruptcy with $10 billion of support

Houston Chronicle


Switzerland and Houston-based oilfield service company Weatherford International has emerged from Chapter 11 bankruptcy with roughly $10 billion of financial support.

In a Friday morning statement, Weatherford announced that the company emerged from Chapter 11 with $6.2 billion …

Weatherford emerges from Chapter 11, appoints new board of directors

Weatherford emerges from Chapter 11, appoints new board of directors

Weatherford


Weatherford International has completed its financial restructuring and emerged from chapter 11 protection.

Weatherford- web - oilandgas360

The company emerges with a stronger financial foundation, having reduced approximately $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a …

Paleo Resources, Inc. Appoints New Auditor

Paleo Resources, Inc. Appoints New Auditor

Paleo Resources, Inc. Appoints New Auditor

December 10, 2019 - 11:42 am Corporate Governance, Oilfield Services, Press Releases
Schlumberger’s longtime chief financial officer stepping down

Schlumberger’s longtime chief financial officer stepping down

Chron


Schlumberger’s longtime chief financial officer Simon Ayat is stepping down from his position in January and a successor has already been named.

Schlumberger's longtime chief financial officer stepping down - oilandgas360

In a Tuesday morning statement, the company announced that Ayat is leaving his post on Jan. 22 …

Source: Houston Chronicle

Halliburton to close office in Oklahoma, lay off 800 employees

Houston Chronicle


Houston oilfield service company Halliburton plans to close an office just west of Oklahoma City where more than 800 employees are losing their jobs.

In a Monday morning letter filed with the Oklahoma Office of Workforce Development, Halliburon …

December 3, 2019 - 12:00 pm Closing Bell Story‎, Economy, Energy News, Oilfield Services, People
Source: Houston Chronicle

McDermott stock remains stuck below $1 per share

Houston Chronicle


Stock prices for Houston oilfield service company McDermott International have remained stuck below $1 per share for more than week.

Traded on the New York Stock Exchange under the stock ticker symbol MDR, McDermott slid below $1 per …

Source: Houston Chronicle

NOV plans to issue $500 million of senior notes amid financial reshuffling

Source: Houston Chronicle


Struggling oilfield service company National Oilwell Varco plans to issue $500 million of senior notes amid some financial reshuffling to pay down near-term debt and deal with recent quarterly losses.

In a Monday afternoon filing with the …

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns

Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City.

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns - oil and gas 360

In a Monday afternoon filing with …

November 5, 2019 - 9:02 am Closing Bell Story‎, Earnings, Offshore, Oilfield Services
SitePro acquires Integrated Control Solutions

SitePro acquires Integrated Control Solutions

Energy Tech Leader, SitePro, Continues to Transform Industry with Acquisition of ICS

SitePro, the leading automation technology solutions and service provider for the energy industry, today announced the acquisition of Integrated Control Solutions (ICS). The acquisition of ICS brings together …

Weatherford posts $821 million loss during third quarter

Weatherford posts $821 million loss during third quarter

Switzerland and Houston-based oil field service company Weatherford International posted an $821 million loss during the third quarter — marking 19 consecutive quarters of losses for the bankrupt company.

Weatherford posts $821 million loss during third quarter - oil and gas 360

Weatherford did not host an earnings call as most publicly traded …

October 31, 2019 - 8:10 am Closing Bell Story‎, Earnings, Oilfield Services
Photo: TechnipFMC

French half of TechnipFMC split reveals new company name

Houston Chronicle


Anticipated split will create two publicly traded companies.

The French half of Houston and Paris oil field service company TechnipFMC has revealed its new company name months ahead of an anticipated split that will create two publicly traded …

October 30, 2019 - 7:15 am Closing Bell Story‎, Energy News, LNG, Offshore, Oilfield Services
Photo: Craig Hartley, Bloomberg News

Losses continue to mount for National Oilwell Varco in third quarter

Houston Chronicle


Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter.

In a statement released after close of market on Monday, NOV reported a …

October 29, 2019 - 9:05 am Closing Bell Story‎, Earnings, Oilfield Services
Drillers Cabin on a Patterson-UTI rig.our Rig 222. The Houston drilling rig operator retired 36 older rigs during the third quarter amid weaker demand from shale fields across the United States and Canada.

Shale Slump: Patterson-UTI pulls 36 rigs from service

Houston Chronicle


Houston drilling rig operator Patterson-UTI Energy is retiring 36 older rigs amid weaker demand from shale fields across the United States and Canada.

In a Thursday morning statement, the company reported a $262 million loss on $599 million …

October 25, 2019 - 8:30 am Closing Bell Story‎, Oilfield Services