Oilfield

Raymond James Expects Solid Year for Gas Prices, E&P Stocks

Investors’ recognition of natural gas and oil price sustainability and resulting oilfield activity levels will lead to another banner year for energy investors, with gas prices expected to average $7.25/Mcf, said Raymond James analysts Monday.

January 4, 2005

Halliburton Cuts Ties with Former KBR Chairman Over Nigerian LNG Bribery Scandal

Oilfield services giant Halliburton said Friday that it was terminating its relationship with A. Jack Stanley, a consultant and former chairman of its subsidiary Kellogg, Brown & Root (KBR), because of a bribery scandal involving work done at a Nigerian liquefied natural gas (LNG) export terminal. Another consultant and former employee of M.W. Kellogg Ltd., a joint venture in which KBR has a 55% interest, also is being terminated.

June 21, 2004

Halliburton to Pay $4B to Settle Asbestos Claims, Discloses Formal SEC Probe

In one of the largest settlements ever, Halliburton, the Houston-based oilfield services company that was once run by Vice President Dick Cheney, agreed to pay $4 billion to settle all present and future asbestos claims, allowing the $13 billion company to continue business as usual while providing for victims of asbestos exposure. The company also disclosed last week that it is under formal investigation by the Securities and Exchange Commission into disclosure and accounting practices during the vice president’s tenure as chief executive from 1995 to 2000.

December 23, 2002

Nabors’ Income Tumbles 75%, But Higher Gas Prices Improve Outlook

Drilling and oilfield services firm Nabors Industries Ltd. said the continuing depressed drilling market and low margins in part led to a 75% drop in its net income in the third quarter to $26.9 million, or 18 cents/diluted share, from $108.2 million or 68 cents/diluted share in 3Q2001.

October 28, 2002

Nabors’ Income Tumbles 75%, But Higher Gas Prices Improve Outlook

Drilling and oilfield services firm Nabors Industries Ltd. said the continuing depressed drilling market and low margins in part led to a 75% drop in its net income in the third quarter to $26.9 million, or 18 cents/diluted share, from $108.2 million or 68 cents/diluted share in 3Q2001.

October 24, 2002

Infinity Grows Green River Basin Presence

Infinity Inc., the largest oilfield services company in easternKansas and northeastern Oklahoma, and an emerging independent oiland gas producer, acquired a 100% working interest in an additional4,775 acres in Wyoming’s Green River Basin. The new acreage isadjacent to the recently announced property acquired by Infinityand gives the company an interest in a total of 20,595 gross acres.

September 20, 1999
1 9 10 11 Next ›