Acquisitions & Divestitures - Service & Supply


Carbon Is Forever: Schlumberger Buys Synthetic Diamond Tech Company

Novatek was founded by H. Tracy Hall, the first scientist to use a repeatable process to convert carbon into synthetic diamonds. His company uses the diamonds for various drilling equipment.

Darren Barbee
Wed, 09/02/2015 - 15:16

WellAware Raises $16 Million In Series B1 Financing

Mitsui & Co. (USA) Inc. co-led the funding round with data provider Genscape Inc. The capital will support WellAware’s operations expansion and oilfield analytics product development efforts.

Tue, 09/01/2015 - 11:04

Hayes Appointed As Departmental VP For Greene’s Energy Group

Michael Hayes was appointed vice president and general manager of pressure testing and services and of the engineering group. Most recently, he worked for Frank’s International and Weatherford.

Erin Pedigo
Fri, 08/28/2015 - 10:38

Oil Services Companies Beat Expectations In Tough Times

Around $200 billion worth of projects are halted or scrapped, and companies are likely to cut investments further due to a persistent crude oil glut and weak prices, Reuters said. 

Thu, 08/27/2015 - 10:41

Schlumberger, Cameron Look To Meld Science, Tech In $15 Billion Merger

The transaction will expand Schlumberger’s revenue base by more than 20%, Paal Kibsgaard, the company’s CEO and chairman, said in a press call. Schlumberger expects cost synergies of $900 million over two years.

Emily Moser
Wed, 08/26/2015 - 15:58

N. American Shale Drillers Invest In Walking Rigs

Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.

Erin Pedigo
Wed, 08/26/2015 - 11:50

Lisenbe, Amenson Appointed To Executive Roles At Wood Group Mustang

Elaine Lisenbe joined the company as financial controller in 2011. Valencia Amenson joined the company in 2014 as director of human resources for the U.S. 

Erin Pedigo
Wed, 08/26/2015 - 09:10

Schlumberger Plans To Buy Cameron In $14.8 Billion Deal

Schlumberger Ltd. (NYSE: SLB) and Cameron (NYSE: CAM) have reached a definitive merger agreement in which the companies will combine in a stock and cash transaction, the companies said in a joint statement.

The deal is valued at $14.8 billion. The agreement was unanimously approved by the boards of directors of both companies.

“This agreement with Cameron opens new and broader opportunities for Schlumberger. At our investor conference in June 2014, we highlighted how the E&P industry must transform to deliver increased performance at a time of range-bound commodity prices,” Schlumberger CEO Paal Kibsgaard said. "With oil prices now at lower levels, oilfield services companies that deliver innovative technology and greater integration while improving efficiency, which our customers increasingly demand, will outperform the market.

Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share, the release said.

Wed, 08/26/2015 - 06:15

Key Energy Services’ Board Approves CEO Succession Plan

Under the succession plan, the positions of chairman and CEO were split. The board also established a finance committee that will assist its oversight of short-term and long-term financial activities.

Erin Pedigo
Tue, 08/25/2015 - 09:52

GE Will Cut More Jobs At Lufkin Oil Unit In Texas

Jobs across two sites of Lufkin oil unit in Angelina County, Texas, will be eliminated. GE plans to cut $600 million in oil and gas division costs, Reuters said.

Erin Pedigo
Tue, 08/25/2015 - 09:17

TGS Survey Targets Deepwater Offshore Mexico

The multibeam data will be acquired by Fugro using vessels equipped with the latest generation of multibeam sonar equipment, TGS said in a news release.

Tue, 08/25/2015 - 08:32

EMGS Appoints Sivertsen As Interim CEO After Bruheim Resigns

The change became effective immediately. EMGS has initiated a search for a new CEO.

Mon, 08/24/2015 - 09:44