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Oilfield services companies were forced to cut rates after oil producers slashed their capital budgets in response to a slide in crude prices to their lowest in more than a decade.
The rig count in North America has improved by 26 over the last several weeks, Halliburton said on July 20."We believe the North America market has turned," CEO Lesar says.
The company has inked two deals in 2016 and says it has more opportunities it is exploring as it expands during the downturn.
The combination of companies creates a complete deepwater managed pressure drilling offering, with technology covering both onshore and offshore applications, according to the release.
Following closing, Trican's operations will be conducted solely in Canada. The company's operations will include specialized products, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells.
State-owned companies such as CNPC and Sinopec have created corruption and have been criticized for their monopoly in the oil and gas market, Reuters reported.
From investment to efficiency, here’s a look at the top points to ponder from this year’s conference.
As part of the deal, Abrado takes full ownership of Deltide Energy Services' proprietary Medusa section milling technology, Rattler suite of downhole magnets, Mud Viper surface ditch magnets and suite of fishing tool services.
Getech will acquire Exprodat from its existing shareholders, Gareth Smith, Nicholas Cribbens, Christopher Jepps, Julie Cullen and Ross Smail.
Abutec’s burner technology destroys and removes at least 99% of harmful emissions, in compliance with the Environmental Protection Agency’s QuadO regulatory standards.
Luis Vazquez, chairman and CEO of Grupo Diavaz, said that the JV company will have predictable project delivery and will adhere to industry-recognized safety standards.
BCP’s management includes James (Jim) Bernhard, formerly of The Shaw Group Inc.; Jeff Jenkins, formerly of Shaw Environmental and Infrastructure; other Shaw executives; and a private-equity team.