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.
Oilfield
Articles from Oilfield
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.
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.
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.
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.
Oilfield Recovery Prolonged as Many Laid-Off Employees Never Coming Back, Says Evercore
Contrary to the optimism some oilfield services companies have expressed about finding a solid labor pool once the oil and gas upturn begins, many former employees have no intention of ever returning, according to a survey by Evercore ISI.
As U.S. E&Ps Ax Budgets, Raymond James Forecasting Sharper Decline in Rig Count
Raymond James & Associates Inc. analysts are standing by their call for West Texas Intermediate oil prices to reach $50/bbl later this year in the face of a futures strip that is “simply unsustainable,” but until the price cavalry arrives, the U.S. rig count is going to be hacked even more as producers cut back their spending.
California Regulators Cite Subsidence Concerns in Clamping Down on Freeport-McMoRan Exploration
Under increasing criticism for being too soft on oil and natural gas operators, California regulators on Monday ordered the exploration unit of Freeport-McMoRan Corp. to provide additional data on the Inglewood Oilfield in the greater Los Angeles area.
Archer, Quintana Energy to Merge North American Land Services
Global operator Archer Ltd. is buying a major stake and contributing well services entities to Houston’s Quintana Energy Services LP (QES) to create a North American onshore-focused oilfield services business.
Oilfield Equipment Market Down But Not Out, Says Douglas-Westwood
Spending for oilfield equipment (OFE) has fallen sharply over the past year, mostly impacting the U.S. onshore, but recovery should begin by 2017 and accelerate thereafter, according to new research by UK-based Douglas-Westwood Ltd. (DW).