Service & Supply
The acquisition of a 51% stake in Russia's Eurasia Drilling Co (EDC) by U.S. oilfield services giant Schlumberger "has big problems" in the current political situation, the head of Russia's competition watchdog said on Aug. 16.
Investors worry a slowdown in sand use, combined with new mining capacity coming online, could lead to a glut of the material and bring down prices. The worries have pressured shares of sand companies.
Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.
The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.
Halliburton will pay $29.2 million to settle civil charges it violated federal anti-bribery rules related to books, record-keeping and internal accounting controls while doing business in Angola.
Schlumberger NV, the world’s largest oilfield services company, has agreed to buy a 51% stake in Russia’s biggest oilfield services firm Eurasia Drilling Co. (EDC), the Russian company said late on July 20.
BJ Services, a fracking company recently spun out of Baker Hughes, aims to go public on the New York Stock Exchange in a proposed IPO for up to $100 million.
Forum Energy Technologies acquired the stock of Multilift from Pelican Energy Partners, a Houston-based oilfield services focused private equity fund, and management.
Halliburton said July 5 it would buy oilfield equipment supplier Summit ESP, which is backed by Oklahoma energy and banking billionaire George Kaiser.
The new company, to be called “Baker Hughes, a GE company,” will begin trading on July 5 on the New York Stock Exchange under the stock ticker “BHGE.”