Acquisitions & Divestitures - Service & Supply

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Refracking Presents Opportunity For Shale Plays

Oil and gas companies are increasingly turning to technology and improved techniques to become more efficient and grow output as low oil prices slowly rebound.

Velda Addison
Mon, 04/20/2015 - 14:38
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Schlumberger Cuts More Jobs As Oil Industry Braces For Next Wave

The latest announced reductions bring the company’s total to 20,000, making its workforce about 15% smaller than it was during third-quarter 2014. 

Fri, 04/17/2015 - 10:12
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Seismos Inc. Receives $4 Million In Equity

Seismos provides the CO2 EOR market with field-installed, low-impact emitters and seismic sensors connected to a cloud-based data processing. First-year returns on investment are upwards of 100%, the company said.

Thu, 04/09/2015 - 07:52
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Halliburton Will Separately Market Drilling Businesses

Halliburton Co. will separately sell its fixed cutter and roller cone drillbits, directional drilling and LWD/measurement while drilling businesses. It is currently working to acquire Baker Hughes Inc.

Wed, 04/08/2015 - 14:59
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Supplier For Petrobras Seeks Credit To Avoid Bankruptcy

Schahin Petroleo & Gas SA, rig and platform supplier for Brazil’s Petrobras, seeks credit to avoid bankruptcy protection filing as it halts operations when assets have claims placed on them.

Tue, 04/07/2015 - 14:57
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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
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Schlumberger Pleads Guilty To Violating US Sanctions On Iran, Sudan

The U.S. Justice Department said on March 25 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
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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
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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
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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
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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
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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

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