Tag: Halliburton

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 »

Halliburton CEO: Weak market will spur more job cuts

Dave Lesar’s statement comes a week after Halliburton said it would immediately laying off 1,000 employees across multiple regions in the Eastern Hemisphere.  More »

Here’s the CEOs behind Houston’s biggest oil companies

The 20 largest Houston-based oil and gas companies were valued at $868 billion in 2014.  More »

Enbridge lays off some Houston-area workers

The Houston-based pipeline company last week cut positions in its under-performing domestic gas pipelines and processing business unit, including jobs in the office and field locations.  More »

Halliburton lays off 1,000 employees in Eastern Hemisphere

HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.  More »

Halliburton begins antitrust review, sees $75 million restructuring charge

Halliburton chief financial officer Mark McCollum said the regulatory review process to clear the deal to acquire Baker Hughes with U.S. and European Union authorities has begun in earnest.  More »

Dover’s $430m purchase shows appeal of specialty oil field service firms

Oil field service companies will have to be far more frugal as crude prices fall.  More »

Halliburton, Baker Hughes name leaders for merger planning team

The integration process is expected to begin after the deal closes in 2015.  More »

Halliburton merger means uncertain future for Baker Hughes fracking disclosures

Baker Hughes disclosure forms to FracFocus no longer include “trade secret” designations, but whether that will continue under Halliburton remains to be seen.  More »

Technip puts up $1.8B offer for French seismic company

The Paris-based oil and gas equipment supplier said it first approached CGG on Nov. 10, and that it would “like to enter into a constructive dialogue” with the company’s board of directors.  More »

Commentary: The shakeout in US shale

My favorite quote by H.L. Mencken is ‘a cynic is a man who, when he smells flowers, looks around for a coffin‘. A bit morose, I know, but this appeals to the contrarian in me. My second favorite is überly-applicable to US shale oil break-evens: ‘For every complex problem there is an answer that is […]  More »

Timeline: History behind Halliburton, Baker Hughes

Halliburton and Baker Hughes each have long histories tied to the beginnings of the oil industry in Texas and Oklahoma.  More »

Halliburton’s Lesar on the trail to sell $35B megadeal to investors

Halliburton CEO Dave Lesar hopped on a plane to New York on Monday, rang the bell at the New York Stock Exchange on Tuesday, and over the next two days will have no less than 16 meetings with shareholders to sell the oil-field service industry’s biggest-ever acquisition.  More »

Halliburton-Baker Hughes deal would rank among top 20 energy deals of last 20 years

Data shows that the 20 biggest oil and gas deals of the last century have all been announced since 1998.  More »
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