Service & Supply
Amid industry consolidation, Colorado’s RockPile Energy Services will augment Keane’s services primarily in the Permian Basin and the Bakken.
Halliburton executives have been in talks with customers for months about raising rates for its services.
Solaris Oilfield Infrastructure, a manufacturer of proppant management systems deployed in U.S. shale plays, said it expects up to about $127.9 million of net proceeds from the IPO.
Higher crude output from the U.S. should pressure global oil prices through the end of 2018, the U.S. Energy Information Administration (EIA) said May 9, ahead of OPEC's meeting later this month.
Rubicon said it expects the acquisition of Choice Completions will strengthen its well construction portfolio and completions solutions business segment.
Flotek's drilling tech division has been a foundation for the company for more than a decade, said CEO John Chisholm, adding that the decision for the divestiture is in-line with ongoing initiatives.
Whether ‘lower for longer,’ ‘lower forever’ or the ‘new normal,’ oil prices in the $50 range require E&Ps to rethink how to do business.
Quarterly revenue fell to $2.26 billion in the first quarter ended March 31 from $2.67 billion. Analysts’ on average had expected revenue of $2.27 billion, according to Thomson Reuters I/B/E/S.
Trump this week will sign new executive orders, including two on energy and the environment, which would make it easier for the U.S. to develop energy on and offshore, a White House official said April 23.
Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier.