Acquisitions & Divestitures - Service & Supply


HAL/BHI Stockholders Approve Merger

Special meetings determined the shareholders’ votes. The merger of Halliburton and Baker Hughes is scheduled to close in the second half of 2015, subject to regulatory approvals.

Fri, 03/27/2015 - 15:02

Schlumberger Pleads Guilty To Violating US Sanctions On Iran, Sudan

The U.S. Justice Department said on Wednesday that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine.

Thu, 03/26/2015 - 10:01

C&J Energy Services Ltd. Emerges From C&J, Nabors Merger

C&J Energy Services Ltd. is led by current C&J management and will be based out of Bermuda. The transaction was originally announced June 25, 2014.

Wed, 03/25/2015 - 09:43

Why US Oil Production Will Grow Despite Lower Prices

Operators are employing several tools to increase production despite budget cutbacks, including high grading acreage, high-intensity completions and leveraging lower service costs to navigate the new low oil price era. 

Tue, 03/24/2015 - 11:34

Superior Energy Services Seeks Assets From BHI/HAL Merger

Superior is interested in assets Baker Hughes Inc. and Halliburton Co. must sell during their merger, Bloomberg said. Superior, seeking international exposure, will become the fourth-largest oilfield services company.

Mon, 03/23/2015 - 15:31

Steeper Oil Price Plunge Will Affect Shale Producers

Cutbacks would further negatively affect oilfield services, reinforce the U.S.’ emerging swing producer status and could possibly cause higher expectations for a steeper drop in domestic output, Reuters said.  

Wed, 03/18/2015 - 11:23

Service Company Consolidation Continues With Timco Deal

Buyer Frank’s International had nearly $500 million in cash in February and was expected to make an acquisition. The company bulked up its U.S. holdings, which accounted for less than 15% of total 2014 revenue.

Darren Barbee
Tue, 03/17/2015 - 11:25

Distress Signals Emerging in Shale Plays, With Deals Possible By Summer

Mom-and-pop service companies’ bid-ask spreads are still high, but some are already putting up auction notices while E&Ps are forecasting summer sales. Even the “body language” of some larger players is starting to indicate that there may be a deal to be had on acreage, analyst says.

Darren Barbee
Thu, 03/12/2015 - 16:34

Proppant Supplier Carbo Ceramics Shutters Georgia Plant

The McIntyre plant will remain shut until market conditions warrant bringing it back online. Carbo provides proppant throughout North America and in locations in South America, Africa, Europe, Australia, Russia and China.

Darren Barbee
Tue, 03/10/2015 - 14:51

CARBO Ceramics Will Idle Proppant Facility

CEO Gary Kolstad cited " a negative impact on demand for ceramic proppant."

Tue, 03/10/2015 - 12:02

Coiled-Tubing Fracks Pumping Interest In New Completion Design

‘The interesting thing with this technology is it allows you to optimize spacing. It is one of the first technologies ever like this in the hole. What it allows you to do post-frack is determine how many of the fracks you pumped actually communicated with the prior frack,’ says Jones Energy’s Stephen Roberts.

Thu, 03/05/2015 - 09:48

Oil Industry Faces Aggressive Fed Corruption Investigations

From oil companies to scientific equipment makers, enforcement actions resulted in total corporate penalties of $1.57 billion in 2014 and averaged a record $156.6 million.

Darren Barbee
Fri, 02/27/2015 - 15:01