Leonardo Mendoza, of Key Energy Services, guilds a drill pipe from a well at an EnerVest oil field Tuesday, May 10, 2011, in rural Fayette County. ( Brett Coomer / Houston Chronicle )

Key Energy could lose its NYSE listing

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Key Energy Services risks losing its listing on the New York Stock Exchange if it’s unable to boost its stock price, the company disclosed Friday.
(Spencer Platt/Getty Images)

ION Geophysical to cut 25 percent of workforce

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ION Geophysical Corp., a local seismic services firm, announced Wednesday it would shed another quarter of its employees by the end of the month to cut costs amid cheap crude prices.
Laboratory analyst, Syed Ali, takes some measurements in a lab in the research and development building, at the Baker Hughes facility. (Todd Spoth/For the Chronicle)

Many Texas manufacturers see conditions worsening amid cheap crude

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Many respondents were still wary over whether manufacturing in the state could recover amid the low crude prices hammering companies catering to the oil and gas industry.
Original byline: Jim Blecha/

GE’s Lufkin Industries closing plant, making layoffs

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This is the third major job reduction by GE’s Lufkin Industries this year and the second and its Foundry plant, which is effectively being closed through this mass layoff, the company said in a letter to the Texas Workforce Commission.
iNOV Grant Prideco's Engineering Technology Center Sept 18, 2014. A worker at the combined load frame.  (Billy Smith II / Chronicle)
Publication History: 	Publication: The Houston Chronicle
PubDate: 9/21/2014 - PageNo: 1 - Section: D - Edition: H6 - CIMAGEID: 131712669
Caption: An employee checks machinery at NOV Grant Prideco's engineering technology center. It's part of National Oilwell Varco.


NOV taps new chief financial officer

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National Oilwell Varco has appointed a new chief financial officer with experience working in the industry as an executive at a major oil company as well as a background in investment banking.
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.
McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

McDermott CEO sees Saudi contract as step in turnaround

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Offshore engineering company McDermott International has landed a $1.5 billion-plus lump sum contract with Saudi Aramco.
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.
(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.
Leonardo Mendoza, of Key Energy Services, guilds a drill pipe from a well at an EnerVest oil field Tuesday, May 10, 2011, in rural Fayette County. ( Brett Coomer / Houston Chronicle )

Key Energy splits CEO and chairman jobs, names successors for both positions

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The Houston-based, oil-field services company said Chairman and CEO Dick Alario is giving up the top board seat immediately and retiring next year. President and Chief Operating Officer Robert Drummond, who just joined the company in June, will assume the CEO role no later than the end of 2016. Independent board member Mark Rosenberg, whose background is in private equity firms, is the new chairman.