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Schlumberger, the world’s largest oil field services company with headquarters in Houston, Paris and The Hague, has moved quickly to wrap up the acquisition of the large oil equipment and technology manufacturer since the deal was first announced at the end of August.
Activists on Wednesday delivered 2 million petitions to the White House opposing the proposed sale of drilling rights from Virginia to South Carolina.
The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges.
Announced last April by Secretary of the Interior Sally Jewel, the rule would tighten standards on blowout preventers – the device that failed in the case of Deepwater – as well as put more controls on how companies drill and monitor wells deep under the surface of the ocean.
Officials from several New Jersey shore towns joined with some members of the state’s congressional delegation Sunday to oppose federal plans that would allow oil and gas drilling in the Atlantic Ocean.
That’s 38 percent higher than Rystad’s previous estimate last July, and the number of projects that have been delayed since then has risen from 40 to 63.
Houston-based FMC Technologies landed an $180 million contract to design, manufacture and supply subsea production systems for a project offshore Western Australia, the company announced.
Paragon will now have a 30-day grace period to either come up with the needed $15.4 million or to work out a deal with its creditors.
Atwood Oceanics expects quarterly revenues to decline from the same time last year, and it may take a multi-million dollar impairment charge on another rig, as the lingering oil slump continues to batter offshore contractors.
The head of the oil industry’s top lobbying group says the U.S. is an emerging global energy powerhouse, and can can grow even stronger if the federal government imposes fewer regulations.