Tag: Halliburton

Halliburton mum on future sales tied to Baker Hughes merger

The world’s second and third-biggest oil field service firms are just a week away from a March 27 shareholder vote on the transaction, one of the biggest energy deals so far this century, which emerged when oil prices were falling sharply last year.  More »

Baker Hughes’ CEO talked with global conglomerate before Halliburton deal

The CEO of Baker Hughes had met with a global conglomerate in Europe just weeks before his company struck a $35 billion deal to sell itself to Halliburton, new corporate disclosures show.  More »

Halliburton exec: “Boom town” costs falling amid oil slump

The service costs associated with housing and feeding employees in remote locations like the Permian Basin in West Texas and the Bakken Shale in North Dakota typically skyrocket in boom times, Halliburton President Jeff Miller said.  More »

Halliburton to cut 5,000 to 6,500 jobs

Oil field services company Halliburton will cut as many as 6,500 jobs to cope with the crude price collapse, joining rivals that previously have announced thousands of layoffs.  More »

Weatherford cuts COO role amid falling oil

Weatherford International is getting rid of the job of chief operating officer as the oil field service firm tries to streamline its highest layers after the oil-price collapse, it said Wednesday.  More »

Report: U.S. land rig count could fall 30 percent

The number of onshore oil and gas wells in the U.S. will fall 26 percent this year to 27,000, research firm Wood Mackenzie said in a new report published Thursday.  More »

Halliburton leaders suggest layoffs to hit North America

Halliburton acknowledged challenges ahead for the company as it faces pressure from exploration and production companies who are reeling from a more than 50 percent drop in the price of oil.  More »

Baker Hughes to lay off 7,000 after record-breaking quarter

The oil services company reported that net income in its final quarter rose to a record high of $629 million.  More »

BP, ConocoPhillips to cut 530 jobs in the North Sea

In separate announcements Thursday, they said they’re both targeting jobs that support the offshore oil fields between the United Kingdom and Norway that have seen operational challenges and maturing petroleum basins in recent years  More »

Halliburton cuts jobs in Houston

Halliburton Co. said Tuesday it has cut jobs in Houston because of weakening market conditions as oil prices slide but refused to say how many employees were let go.  More »

Investment firm lays off 150 employees from oil field companies

OFS Energy’s layoffs come after oil field service companies like Halliburton and Hercules Offshore have announced sizable layoffs in November and December.  More »

Oil below $60 tests economics of U.S. shale boom

The U.S. shale boom that’s brought the country closer to energy self-sufficiency than at any time since the 1980s will be challenged in 2015 as never before.  More »

Halliburton, Baker Hughes overcame $3.3 billion divide to reach deal

During the month-long bout of haggling between the two companies, Halliburton CEO Dave Lesar said a counter offer proposed by Baker Hughes “shocked me and is clearly one that we cannot accept.”  More »

Nabors CEO takes a pay cut

Oil-service companies and rig contractors are preparing for an estimated 25 percent drop in spending next year from explorers and producers after crude prices dropped to a five- year low.  More »

Transocean to scrap seven more rigs, take $140M charge

Transocean is planning to scrap seven of its older, lower-quality deep-water and mid-water vessels, putting them up for sale at a time when oil prices and demand for offshore rigs have sunken lower.  More »
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