Category: Oil field services

Weatherford posts $77 million in profits, could announce two divestitures this year

Oil field service company Weatherford International could announce at least two major divestiture before the end of the year, including one that may occur “imminently” and perhaps within the next week,.  More »

Markets for advanced rigs rising, Nabors CEO says

Rising prices for the Bermuda rig contractor’s most advanced machines are helping Nabors crank out more of them for operators in U.S. shale plays.  More »

Oil firms reach for subsea standards to cut costs, FMC CEO says

The next generation of tools designed to help energy companies process oil and gas deep under the oceans could follow uniform industry designs, FMC Technologies CEO John Gremp said.  More »

Nabors earnings rise after last year’s loss

Nabors Industries collected $61 million in profit in the third quarter on higher North American drilling activity, a year after it faced losses on asset impairments and other charges.  More »

FMC Technology profit rises 46 percent

FMC Technologies on Tuesday posted a 46 percent boost to its third-quarter bottom line, largely because of a rise in subsea technology sales and its North American high-pressure fluid control business.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

Oil rigs slump by most in two months after prices slide

Rigs targeting oil in the U.S. fell by the most in two months as producers curbed drilling following the biggest price rout since 2012.  More »

Schlumberger CEO: Oil will recover, spur E&P spending

The slow but steady global economic recovery is still intact, and absolute oil demand has changed little despite fears of oversupply that have sent crude prices hurtling downward in recent days, Schlumberger’s chief executive told investors on Friday.  More »

Schlumberger profit jumps 13.6 percent

Schlumberger profits jumped 13.6 percent in the third quarter as sales in North America and in its production segment picked up.  More »

Baker Hughes profit rises 10 percent

Oil field service firm Baker Hughes saw profits rise nearly 10 percent in the third quarter as its sales in North America and Latin America increased.  More »

Ocean Rig Partners files for $305 million IPO

Offshore oil driller Ocean Rig Partners has filed for a $305 million initial public offering as it anticipates four next-generation deep-water drillships to be assembled over the next three years.  More »

Frac sand company sees IPOs today, mergers tomorrow

It’s a good time to be among the handful of companies providing sand to the oil industry — one of the largest projects that the market will grow 30 percent in 2014.  More »
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