Acquisitions & Divestitures - Service & Supply
Drillers have been predicting an upturn for more than a year only to disappoint but debt ratings firm Moody’s Investors Services said last month that it believed 2018 could mark the low point for industry earnings.
Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.
Waste Management Energy Services of Texas, LLC, an in-direct subsidiary of Houston-based Waste Management, Inc. (NYSE: WM), announced On Oct. 11 that its new Reeves County Solids and Liquids Injection Facility, designed for the safe disposal of oilfield wastes, is now fully operational.
Plus, Exxon Mobil donates to a PAC promoting U.S. carbon tax, offshore drillers Ensco and Rowan agree to merge and Chevron exits Norway.
The merger of offshore drillers Ensco and Rowan will result in the world’s largest jackup contractor with a combined enterprise value of $12 billion.
The merger with Trinidad Drilling will position Precision as the third-largest driller in the U.S. with a rig fleet that includes over 200 active rigs and 322 total rigs, the companies said.
This niche business is growing rapidly as water companies respond to producers’ insatiable water needs. Here’s a look at four of them.
More than half the total U.S. oil rigs are in the Permian, the country's biggest shale oil formation. Active units there declined by two this week to 486, the Baker Hughes report said.
The new Gen6 frack sand mine will be located in the core of the Haynesville and help provide area producers “significant time and cost savings on transport and logistics.”
Revisions to the Obama-era plan include changes to the percentage of methane that must be captured at drilling locations and measures on well completions and leak detections.
Mark McCollum, the company’s third CEO in two years, thinks his push to simplify its sprawling supplier networks and corporate organization will help turn around one of the largest energy companies yet to emerge from the oil price collapse.
Colorado voters will decide on Nov. 6 whether to extend the state’s oil and gas setback requirement by approving Proposition 112, which an analyst described as ‘a widow-maker for the D-J Basin.’