Exterran Holdings CEO Brad Childers poses for a portrait in Houston.

Delayed Exterran spin-off slated for late 2015

The new time table is scheduled to complete the Exterran reorganization by the end of 2015. Exterran Holdings will spin off its fabrication and international compression businesses — about 7,000 of its total 10,000 workers — into a new company named Exterran Corp. that would trade under the “EXTN” stock symbol in the New York Stock Exchange.
Cameron International's former chief operating officer Scott Rowe has assumed the CEO role. (Cameron)

New CEO takes over Cameron International

R. Scott Rowe has taken over the top job at Cameron International Corp. as part of a previously announced succession plan by the oil field services company to replace retiring CEO Jack Moore.
(AP Photo/Pat Sullivan, File)

Schlumberger won’t extend pursuit for $1.7 billion deal for Eurasia Drilling stake

The company said it does not intend to extend the agreement beyond the current extension’s Sept. 30 expiration date. Instead, Schlumberger will focus on other opportunities for mergers and acquisitions, the company said in a statement.
Caterpillar is developing natural gas-fueled versions of heavy equipment, including this giant, a Model 795 off-highway mining truck.

Caterpillar says it could cut 10,000 jobs to reduce costs

The Peoria, Illinois, company says most of the cuts will occur in 2015 in its salaried and management workforce.
(Thomas B. Shea/For the Chronicle)

Rice speakers to energy engineering firms: Partner up, and expect more acquisitions

While growth in the petrochemical sector is helping some engineering and construction companies, a recent Wood Mackenzie report, for instance, shows that $1.5 trillion in pending North American shale projects are not profitable with oil at $50 a barrel.

Weatherford’s $1 billion fundraising plan encourages acquisition talk

The Switzerland-based company, which is operated out of Houston, said it plans to raise the money through a combination of debt and stock offerings. Weatherford said it will use the proceeds to fund potential acquisitions and for “general corporate purposes.”
FMC Technologies elaborate booth in the Offshore Technology Conference at the NRG Center Wednesday, May 6, 2015, in Houston, Texas. (Gary Coronado/Houston Chronicle)

FMC Technologies awarded $172 million subsea contract from Statoil

FMC Technologies has been awarded a $172 million contract to provide subsea equipment for one of the largest oilfields off Norway’s coast.
(Schlumberger handout photo)

Schlumberger says its $350 million investment in tech is helping keep costs low

The overhaul that started in 2007 turned out to be a prophetic decision after crude prices collapsed, sending oil field services companies scrambling to find new, more efficient ways to drill and complete wells at a cheaper cost.
Siemens CEO Joe Kaeser (Getty Images)

After recent buying spree, Siemens not planning further acquisitions

After making two multi-billion purchases in recent years, Siemens has no plans to make any further acquisitions, even as falling oil prices create a prime opportunity for buying and selling, a company executive said Tuesday.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Survey: Oil field services companies feeling pressure as cuts continue

Citadel Advisory Group, a consulting group specializing in energy industry mergers and acquisitions, said in its mid-year report on a survey of hundreds of oil field services executives that nearly all of the respondents were pessimistic about their ability to renegotiate rates with their biggest customers amid unstable oil prices.