Tag: Halliburton

Halliburton cuts 9,000 jobs as oil slump takes toll

Oil field services firm Halliburton posted a first-quarter net loss of $643 million as drilling rigs continued to go silent in North American oil fields and producers asked for pricing concessions for services, it said Monday.  More »

Halliburton to put drilling business units up for sale to clear Baker Hughes merger

The Houston oil field services firm said Tuesday it is putting its fixed cutter bits, roller cone drill bits, directional drilling, logging-while-drilling and measurement-while-drilling businesses on the auction block in separate deals.  More »

Moody’s predicts tough year for oil field services firms

Even if oil prices rebound, oil field services firms still have a tough year ahead as producers squeeze them for deeper discounts, Moody’s Investors Services said in a new analysis.  More »

Frank’s International says it will cut up to 600 jobs

Job cuts at Frank’s International follow tens of thousands of job cuts in the oil field service industry, a labor-intensive business that has been hammered by falling oil prices since June.  More »

Halliburton, Baker Hughes shareholders OK $35 billion deal

Roughly 98 percent of the shareholder votes cast in both votes were in favor of the deal, which is expected to close in the second half of this year.  More »

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 »
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