Service & Supply
The conference’s inaugural technology program focuses on the logistics of frac sand transportation and how the industry has entered the ‘water midstream era.’
An oilfield service worker shortage is helping drive up service costs for oil producers, especially in the hottest shale fields.
Wood Group, which maintained its full-year outlook, said it expected to deliver cost savings of above $50 million in 2018, and that it was confident of recognizing at least $170 million in synergies by the end of the third year after integration.
Southern California Gas cautioned on May 8 that pipeline outages and restrictions on the Aliso Canyon gas storage facility could reduce its ability to deliver natural gas this year to a level even lower than California state regulators and others have predicted.
Partnerships, mergers and acquisitions play prominent roles.
The project utilizes a commercial model that consolidates BHGE engineering, products and services expertise in order to reduce total project costs and time to first production.
McDermott International Inc. said it is fully committed to completing the transformational combination with CB&I and on April 25 reiterated that it had rejected Subsea 7’s unsolicited offer.
Norwegian offshore oil services firm Subsea 7 is open to potentially sweetening its $2 billion offer for McDermott (NYSE: MDR) if the U.S. company would work with it to identify additional benefits of a deal, Subsea said on April 25.
U.S. engineering firm McDermott’s US$2.26 billion term loan fell in the secondary loan market on April 24 after a US$2 billion unsolicited bid from offshore oil services firm Subsea 7 threatened to break up McDermott’s agreed bid for onshore engineering firm Chicago Bridge & Iron (CB&I).
Crude production in the country has dropped to less than half its level in 1998.