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 …
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 …
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 …
Source: Reuters
(Reuters) – Oilfield services firm Patterson-UTI reported a smaller-than-expected loss on Thursday, as cost cuts helped it limit the impact of an ongoing decline in North American shale activity.
An investor push toward higher returns instead of growth …
Roughly a month after its stock plummeted in value by 75 percent, Houston oil field service company McDermott International has landed $1.7 billion in new capital.
In a Monday morning filing with the U.S. Securities and Exchange, McDermott …
Houston oil company Birch Resources is planning a big push in the Permian Basin’s prolific Spraberry field.
The company is seeking permission from the Railroad Commission of Texas to develop 19 horizontal wells targeting the Spraberry at total …
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.
The biggest …
Source: Houston Chronicle
The world’s largest oil field service company beat Wall Street expectations on revenue but got stung by pretax charges that resulted in a multibillion loss for stockholders during the third quarter.
Schlumberger reported a $11.4 billion loss …
Houston oilfield service giant Halliburton has laid off 650 employees in four western states from New Mexico to North Dakota.
In a notice filed on Monday with the Colorado Department of Labor and Employment, Halliburton reported that the …
Source: Houston Chronicle
Struggling oilfield service company Weatherford International has landed three contracts in the oil fields of Iraq.
In a statement released Tuesday afternoon, Weartherford reported that the company has been awarded a pair of two-year drilling rig contracts …
Fluor Corporation (NYSE: FLR) announced today that a consortium of Fluor, JGC Corporation of Japan and TechnipFMC of France was awarded an engineering, procurement and construction contract by Mozambique Rovuma Venture S.p.A. (MRV) for its Mozambique Rovuma Liquefied Natural Gas …
Source: Houston Chronicle
Baker Hughes rolled out its new look Tuesday to mark its independence after more than two years of majority ownership by the industrial conglomerate General Electric Co.
The Houston oilfield service company is dropping the GE logo …
C&J Energy Services (“C&J”) (NYSE: CJ) and Keane Group, Inc. (“Keane”) (NYSE: FRAC) today announced the future executive leadership team of the combined company effective upon completing their pending merger of equals.
“This announcement is another important step forward in …
Source: Reuters
Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as the country awaits regulation that will allow the projects to begin.…
Source: Houston Chronicle
Irving engineering, procurement and construction Fluor plans to sell off $1 billion in assets as the company refocuses on energy sector projects.
During a Tuesday morning investors call, Fluor CEO Carlos Hernandez said the company is selling …
Source: Houston Chronicle
Oilfield service company Weatherford International moved forward with the second phase of its bankruptcy proceedings — filing in Ireland.
The company, which is incorporated in Ireland but has a large presence in Houston, filed for a type …
McDermott International, Inc. (NYSE: MDR) today announced it recently received unsolicited approaches to acquire all or part of Lummus Technology, McDermott’s industry-leading technology business, with valuation exceeding …
Source: Bloomberg
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together, according to a …
Source: Houston Chronicle
Saudi Aramco has awarded a five-year equipment contract to struggling oilfield service company Weatherford International.
The two companies announced the deal on Tuesday afternoon. Financial terms were not disclosed but Weatherford described the deal as a five-year …
Source: Houston Chronicle
Houston oilfield service company Baker Hughes is dropping “a GE Company” from its name and changing its stock ticker symbol.
Baker Hughes made the announcement on Monday after its parent company General Electric closed $3.3 billion in …
At a dusty drilling site east of San Antonio, shale producer EOG Resources Inc recently completed its latest well using a new technology developed by a small services firm that promises to slash the cost of each by …
Houston oilfield service giant Baker Hughes is poised to become an independent company again.
Boston industrial conglomerate General Electric will lose its majority ownership of Baker Hughes in a planned stock sale that could be worth …
A group of oil and gas companies has agreed to begin testing blockchain, a technology at the heart of digital currencies, in a bid to lower administrative costs in their field operations while also reducing payment disputes and …
Water remains a big issue in the arid Permian Basin of West Texas where for every barrel of oil produced, another four to 10 barrels of saltwater — the remnants of an ancient inland sea — …
JCA Companies and its three subsidiary companies, which are headquartered in Wyoming, are focused on innovation and improving safety in the oil …
Slowing growth in the maturing U.S. shale industry and spending cuts by oil and gas customers will lead to a consolidation of oilfield-service suppliers, Halliburton Chief Executive Officer Jeff Miller told investors on Wednesday.
The largest U.S. supplier …
Compiled by Tyler Jones, Oil & Gas 360
The timeline on which investors in the oil and gas space expect a return on …
From Reuters
Franco-American oil services firm TechnipFMC Plc (FTI.N) said on Monday it would spin off its engineering and construction operations into a separate company, leaving it as a technology-focused equipment supplier to oil and gas companies.
TechnipFMC, which had …
