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Schlumberger

(Photo by Andrew Burton/Getty Images)

Cameron stock price gained nearly 50 percent this week

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Investors flocked to Cameron following the company’s announcement that it was being bought by oil field services giant Schlumberger on Wednesday.
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Schlumberger will still be biggest following Cameron deal

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Schlumberger, with $48.6 billion in revenue in 2014, will still be the biggest oil field services company in the world after its deal with Cameron closes.
Leonardo Mendoza, of Key Energy Services, guilds a drill pipe from a well at an EnerVest oil field Tuesday, May 10, 2011, in rural Fayette County. ( Brett Coomer / Houston Chronicle )

Key Energy splits CEO and chairman jobs, names successors for both positions

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The Houston-based, oil-field services company said Chairman and CEO Dick Alario is giving up the top board seat immediately and retiring next year. President and Chief Operating Officer Robert Drummond, who just joined the company in June, will assume the CEO role no later than the end of 2016. Independent board member Mark Rosenberg, whose background is in private equity firms, is the new chairman.
Global consulting firm Accenture announced plans to buy Schlumberger's management consulting division.

Accenture to buy Schlumberger’s consulting business

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Houston-based consultant Accenture plans to buy up Schlumberger’s management consulting business for an undisclosed sum, sharpening Accenture’s ability to help navigate oil and gas companies through the downturn.
(Johnny Hanson/Houston Chronicle file photo)

Halliburton, Baker cut workforces deeper, bringing layoffs to 27,000

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Halliburton has cut nearly 14,000 jobs and Baker Hughes has laid off 13,000 employees since they began trimming their headcounts last year to cope with the oil-market crash, officials said Monday.
Paal Kibsgaard, chairman and chief executive officer of Schlumberger Limited, pauses during a panel session at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on Friday, June 19, 2015. SPIEF is an annual international conference dedicated to economic and business issues which takes place at the Lenexpo exhibition center June 18-20. (Andrey Rudakov/Bloomberg)

Schlumberger CEO: New technology appetite growing amid oil downturn

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The CEO of Schlumberger says American oil producers are purchasing a lot more new technology in this year’s oil downturn than in previous rough patches, with new tools making up almost a quarter of the company’s revenue.
Robert Drummond, President of Schlumberger North America (left) and Jeremy Aumaugher, South Division Operations Manager (Tom Reel/ San Antonio Express-News)

Schlumberger profit falls on oil slump, beats estimate

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The company’s earnings show how much worse the American drilling slump got in the second quarter, as its sequential North American revenues fell from $3.2 billion in the first quarter to $2.4 billion in the second quarter, about 25 percent.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Oil field outlook bleak as earnings expected to come in lower

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U.S. crude’s recent fall to $51 a barrel is making a widely anticipated recovery in domestic drilling much more tenuous, bringing lower profits and probably even more job cuts to oil field service companies, analysts say.
(Andrey Rudakov/Bloomberg)

Eurasia Drilling slumps as Russia fails to rule on Schlumberger deal

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Russia’s foreign-investment commission met Thursday yet didn’t make a decision on Schlumberger’s bid, Natural Resources Minister Sergei Donskoi said by phone, without giving a reason.
Workers prepare two compressor modules for OneSubsea’s multiphase compressor. (OneSubsea)

Houston subsea company awarded big contract for North Africa gas project

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This award is the second part of a natural gas project and spans 13 deep-sea wells, and is the largest contract for work on subsea production systems in North Africa, Cameron International CEO Jack Moore said in a written statement.