Technip plans to buy Shaw Group’s energy and chemicals business for roughly $300 million, it announced today.  More »

A group of accountants from the top markets for energy exploration launched a consortium at OTC this week to help mid-cap oil field service companies expand globally.  More »

As the OTC gets underway to record numbers here in Houston, one oft repeated phrase from industry and government is that safety should come first. James Watson, head of BSEE, also announced that the government plans to speed up its rulemaking on safety requirements by skipping the “notice of proposed rulemaking” stage and going straight [...]  More »

National Oilwell Varco plans to purchase Schlumberger’s Wilson distribution business segment in an all-cash transaction for an undisclosed sum, the company announced on Tuesday.  More »

The company last year identified “material weaknesses” in its accounting system and cut earnings by $500 million.  More »

National Oilwell Varco (NOV) indicated that it is in acquisition mode at its annual earnings call, and this morning it made good on the claim, announcing plans to acquire NKT Flexibles for $670 million.  More »

National Oilwell Varco Inc. reported a nearly 30 percent increase in its fourth quarter earnings for 2011from the same time in 2010, as high oil prices and drilling competition in the shales have sharply increased demand for the company’s drilling and safety equipment.  More »

The oilfield service company suffered a 6 percent profit decline in the closing months as 2011 as its North American hydraulic fracturing business struggled.  More »

Oil and gas industry leaders are pushing back today against an EPA draft report that linked hydraulic fracturing with water contamination in Wyoming by insisting that what happened in that state is light years away from drilling being done in Texas, New York and other parts of the country.  More »

Chesapeake Energy Corp.’s oilfield- services unit, which it plans to spin off in 2012, may be worth $10 billion in a few years, Chesapeake Chief Executive Officer Aubrey McClendon said.  More »

Preliminary results of a University of Texas study on hydraulic fracturing say it doesn’t appear the subterranean process is directly contaminating groundwater, but fracturing sites may have a higher incidence of surface problems that can occur with any type of drilling.  More »

Oilfield-services provider Baker Hughes Inc. said Tuesday that third-quarter earnings nearly tripled and revenue hit a record as the company added rigs in Canada and drilling continued to recover in the Gulf of Mexico from last year’s oil spill.  More »