Acquisitions & Divestitures - Service & Supply

Oilfield services provider Weatherford, which has not reported a quarterly profit in four years, has struggled under the weight of a massive debt load since oil prices crashed in 2014.

Weir Group is close to selling a unit, which supplies pumps and valves to power and oil and gas industries, a source with knowledge of the matter told Reuters.

Last year ended with the worst quarter for upstream equity issuances since 2010 as only two equity deals raised $67.5 million.

Baker Hughes, a GE company (NYSE: BHGE), has committed to reducing its CO₂ equivalent emissions 50% by 2030, achieving net-zero CO₂ equivalent emissions by 2050, the company said Jan. 28 in a news release.

While energy bankruptcy filings slowed in 2018, the total amount of debt in oil and gas remains staggering, a recent Haynes and Boone report says.

At the World Economic Forum in Davos, heads of Chevron, BP, Shell, Total, Aramco and Exxon Mobil joined together to discuss two key topics—climate change and pressure from investors.

The JV was formed by H2O Midstream and Layne Water Midstream to develop and operate water infrastructure on the University Lands acreage across the Southern Delaware Basin.

Houston-based Halliburton said revenue from North America fell about 2% to $3.3 billion from a year earlier and dropped 11% from the third quarter.

A survey by DNV GL also indicated that more energy companies were preparing for a long-term shift to cleaner energy sources.

The head of the world’s largest oilfield service company believes market conditions will improve this year after a rough start.

Schlumberger, a bellwether for the oilfield services sector, said recent volatility in crude prices has led to more uncertainty in the spending outlook for oil and gas producers.

A Permian standard is emerging after experimentation during a decade of drilling the basin’s multiple unconventional shales has found diminishing returns, says CEO of reserve evaluation firm Haas Engineering.