Oilfield

Weatherford Exits Bankruptcy ‘More Focused,’ Says McCollum

Oilfield services giant Weatherford International plc has emerged from voluntary bankruptcy in stronger financial shape after eliminating $6.2 billion of outstanding funded debt.

December 16, 2019

NOV Expects to Miss 1Q Revenue Expectations, Cites Late ’18 Oil Price Collapse

Citing impacts from low oil prices in late 2018, National Oilwell Varco Inc. (NOV), one of the largest oilfield services operators in the U.S. onshore, said it expects 1Q2019 revenues to come in lower than expected.

April 12, 2019

Operator Permitted for Second Permian Oilfield Waste Landfill

Regulators in Texas have given Milestone Environmental Services a permit to build its second oilfield waste landfill in the Permian Basin.

April 12, 2019

North America Drilling-Related Activity Stable, Says BHGE CEO

The journey by Baker Hughes, a GE Company, has been a bumpy one since it began operating two yearsago, but improvements are coming with a continued focus on innovation and technology for its global customers, CEO Lorenzo Simonelli said Tuesday.

October 30, 2018

Potential Permian Constraints Pose Risks for RPC, Says CEO

Oilfield equipment specialist RPC Inc., whose activity is centered in the United States, reported a 17%-plus jump in revenue from a year ago on higher activity levels and a larger fleet of equipment, the Atlanta-based operator said Wednesday.

July 26, 2018

Los Angeles Oilfields Shutting In as Wildfires Bear Down

A number of small oilfields in Ventura County, CA, remained shut in Friday as the Thomas Firespread into Ojai and the unincorporated areas surrounding the city of Ventura, with major producer Aera Energy LLC closing down all of its operations.

December 8, 2017
GE, Baker Hughes Tie-Up Done Deal, Creating ‘Fullstream Oil and Gas Company’

GE, Baker Hughes Tie-Up Done Deal, Creating ‘Fullstream Oil and Gas Company’

Billing itself as “the world’s first and only fullstream oil and gas company,” Baker Hughes Inc. and GE Oil & Gas announced Monday that their mega-merger — estimated at $32 billion — is complete.

July 6, 2017

Kirby’s Takeover of Stewart & Stevenson Said ‘Shrewd Move’ As North American OFS Recovers

Houston’s Kirby Corp. and Stewart & Stevenson LLC (S&S), whose manufacturing and services offerings are expanding rapidly in the Permian Basin, Eagle Ford Shale and in Oklahoma, agreed late Tuesday to combine in a deal estimated to be worth close to $710 million.

June 15, 2017

Precision Adds Rigs, Canadian Workforce in Asset Swap With Essential Energy

Calgary-based operators Precision Drilling Corp. and Essential Energy Services Ltd. have agreed to swap some oilfield service assets, which would expand Precision’s rig operations and workforce in Canada while Essential would add coil tubing and pumping services.

December 14, 2016
Beaten Up But Not Beaten Down, OFS Sector Showing Resiliency

Beaten Up But Not Beaten Down, OFS Sector Showing Resiliency

The oilfield services industry has been mangled, chewed up and spit out since commodity prices began tumbling in late 2014. Like a champ, operators picked themselves up and fought back by revamping customer contracts, improving efficiencies and costs, and as they have always done, delivering ever-better technology.

November 23, 2016
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