Acquisitions & Divestitures - Service & Supply

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Halliburton Unveils Refracturing Service

Where ACTIVATE has been used, operators see about an 80% increase in EUR per well and a 66% reduction in cost per barrel of oil equivalent from refracked wells verus new wells, Halliburton said in a news release.

Thu, 07/30/2015 - 11:01
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Frack Sand Supplier Shale Support Closes $85 Million Debt Financing

Proceeds from an $85 million senior debt facility will refinance existing debt and complete capex projects in mining and processing facilities in the Eagle Ford and Permian Basin. 

Thu, 07/30/2015 - 10:36
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Hercules Offshore Will File For Bankruptcy

The jackup rig renter cut 15% of workforce, or 324 jobs, in November. More than two-thirds of the holders of its outstanding debt support imminent bankruptcy protection filing, Reuters said. 

Fri, 07/24/2015 - 13:46
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Proppant Market On The Way Toward Consolidation

The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.

Fri, 07/24/2015 - 10:08
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Downturn Could Strengthen Bond Between Operators, Oilfield Services Companies

An improved relationship could lead to greater cost savings with both earning higher margins.

Thu, 07/23/2015 - 16:30
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New Antitrust Concerns About Halliburton, Baker Hughes Deal Not So New

Both companies said July 10 that they had agreed to extend the Department of Justice’s review of their merger while Halliburton readies divestment of billions of dollars in revenue-generating business divisions.

Thu, 07/23/2015 - 15:00
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Rig Or Mortis: Oilfield Equipment Gets Last Chance At Auction

Equipment auctions are frequent and often the product of insolvency, but equipment should be thoroughly inspected before bids. The equipment has often been cannibalized for parts.

Darren Barbee
Wed, 07/22/2015 - 15:19
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Weatherford Unveils Revolution Rotary Steerable System

Etienne Roux, vice president of drilling services, said Revolution has drilled 284 vertical-curve lateral wells in a single run in the last year and half. This totals 2.4 million feet.

Tue, 07/21/2015 - 15:34
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Halliburton Seeks $500 Million For Shale Well Drilling

Funding received from BlackRock could help Halliburton more quickly adopt refracking, Rob Desai, an Edward Jones analyst, told Bloomberg. Many producers are drilling fewer new wells at this time.

Tue, 07/21/2015 - 08:28
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Schlumberger: North American Market Craters And Will Get Worse

Schlumberger says that it was able to keep afloat from international revenue as the U.S. falters and appears headed for a 35% cut in investments in 2015.

Darren Barbee
Fri, 07/17/2015 - 14:40
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Halliburton Unveils New Reservoir Tool

Reservoir Monitor Tool 3-Detector will be useful to identify pay zones in mature fields, which make up 70% of worldwide oil and natural gas production.

Thu, 07/16/2015 - 17:04
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Schlumberger Profit Beats Estimates As Cost Cuts Pay Off

Schlumberger under Chief Executive Paal Kibsgaard has cut 20,000 jobs in 2015 and scaled back spending in response to weak crude prices.

Thu, 07/16/2015 - 16:01

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