A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Cameron sells offshore jack-up rig business for $100 million

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Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.
This is an undated handout photo issued by Total E&P UK Ltd of Total's Elgin PUQ (Process/Utilities/Quarters)  platform. A two-mile exclusion zone has been set up around the offshore platform in the North Sea which has been evacuated after a gas leak, Tuesday, March 27, 2012. The leak on Total's Elgin PUQ platform, about 150 miles (241km) off the coast of Aberdeen, led to the evacuation of all 238 workers on Sunday. (AP Photo  / TOTAL E&P UK Ltd)

Total to sell $905 million in North Sea midstream assets

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The sale will send the Frigg UK Pipeline, the St. Fergus Gas Terminal and the Shetland Island Regional Gas Export System to North Sea Midstream Partners, an private equity-backed pipeline company.
Dave Lesar, third from right, chairman and CEO of Halliburton, rings the Opening Bell at the New York Stock Exchange (NYSE) on November 18, 2014 in New York City. (Photo by Spencer Platt/Getty Images)

Halliburton believers could win big betting on deal

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Traders willing to bet the biggest oil-services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit.
schlumberger quanta geo

Schlumberger will still be biggest following Cameron deal

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Schlumberger, with $48.6 billion in revenue in 2014, will still be the biggest oil field services company in the world after its deal with Cameron closes.
Niels Koppel touches a Cameron Evo 20K BOP, a blowout preventer, at Cameron's booth at the Offshore Technology Conference at Reliant Center Monday, May 6, 2013, in Houston. (Cody Duty / Houston Chronicle)

Analysts: Schlumberger’s bid for Cameron “makes sense”

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Analysts now hail the decision by the two companies to form a joint venture called OneSubsea as the precursor to Schlumberger’s plans announced Wednesday to acquire Houston-based Cameron, a major oilfield equipment and technology company.
Categories: Deals, General
FILE - This Oct. 18, 2007, file photo, shows a Schlumberger logo on a tower at the entrance to Schlumberger's Sugar Land, Texas campus. Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when the country's relations with the West are under strain and as energy prices hit multiyear lows, according to reports, Tuesday, Jan. 20, 2015. (AP Photo/Pat Sullivan, File)

Schlumberger to buy Cameron in multibillion-dollar deal

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The slump in oil prices over the past year has forced oil company cutbacks, hitting the services industry that caters to it.
(AP photo/Brennan Linsley)

Encana sends Louisiana shale assets to private venture in $850 million deal

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Encana Corp. said Tuesday it will sell $850 million of Louisiana shale play acreage to a partnership between a closely held Woodlands oil and gas driller and a private equity firm.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

Encana selling Louisiana assets for $850 million

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The assets being sold include about 112,000 acres. Encana will use the proceeds from the sale to reduce debt.
Oil workers operate drill sections while working on the drilling floor beneath the travelling block on a derrick operated by Salym Petroleum in Russia,. (Andrey Rudakov/Bloomberg)

Oil companies cheaper to buy than assets after rout, Exxon partner says

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Oil and gas producers on Monday declined to their lowest level in almost four years as collapsing markets in China raised concern demand will falter and exacerbate a glut.
Cobalt International Energy used the Petroserv SSV Catarina Rig to drill the Lontra #1 discovery well off the coast of Angola.  (Cobalt International Energy)

Cobalt sells its offshore Africa assets for $1.75 billion

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Cobalt is unloading its 40 percent stake in two sizable blocks offshore of Angola in the deal that is expected to close by Jan. 1, subject to customary Angolan government approvals.