Provider

Pennsylvania Lures Flowserve Away From New Jersey

Oilfield services provider Flowserve Corp. will relocate some of its pump division operations from New Jersey to Pennsylvania, a 15-mile move that brings more than 100 jobs to a state much more supportive of the company’s bread and butter: oil and gas drilling.

June 17, 2013

Industry Brief

Denver-based Enservco Corp., a provider of well-site services, said it will invest $6 million in capital expenditures during 2013, with $4.7 million being allocated to new equipment fabrication. The budget also includes $1.3 million for enhancements to existing equipment. Management estimates the annualized revenue potential from the new equipment at about $10 million. The equipment includes nine frack heating trucks with a total of 12 burner boxes, four hot oilers and two well acidizing trucks. The investments will expand the company’s frack heating capacity by 40% and increase its hot oiling fleet by 15%. Enservco said sales during April reached $3.7 million, up 85% from one year ago. The improvement was fueled in part by cool spring temperatures across the company’s service territories, as well as sustained demand for fluid heating services, particularly in regions where new fracking techniques require higher water temperatures than traditional frack designs.

May 17, 2013

Crosstex Invests Another $25M in Utica Partnership

Crosstex Energy Inc. will invest about $25 million in a third natural gas compression and condensate stabilization facility in the Ohio River Valley through E2, a company Crosstex formed in March with former management of Enerven Compression Services to serve Utica Shale producers.

May 16, 2013

Halliburton More Optimistic on U.S. Land

Halliburton Co., the No. 2 global oilfield services provider, is beginning to see some blue skies in North America this year and going into 2014, CEO Dave Lesar said last week.

April 29, 2013

Halliburton More Optimistic on North American Land

Halliburton Co., the No. 2 global oilfield services provider, is beginning to see some blue skies in North America this year and going into 2014, CEO Dave Lesar said Monday.

April 23, 2013

GE Adds Drilling Heft with Lufkin Takeover

General Electric (GE) on Monday said it would pay $3.3 billion to buy Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry.

April 9, 2013

UK-Based Retail Energy Firm Moves into California

Pittsburgh-based retail energy provider Direct Energy is plunging into the retail natural gas market in California, going after all sizes of commercial and industrial customers to add to its residential mix.

April 5, 2013

EMG Finalizes Increased Stake in Utica Midstream Venture

Appalachian midstream provider MarkWest Energy Partners LP and private equity fund The Energy and Minerals Group (EMG) have completed an amendment to give EMG a larger stake in their joint venture (JV) in the Utica Shale.

February 26, 2013

Patterson-UTI Surprises on Strong Growth

Patterson-UTI Energy Inc. did something in the final three months of 2012 that no other onshore oilfield services provider has announced yet: hydraulic fracturing (fracking) services climbed and sales surpassed expectations — surprising even company executives.

February 11, 2013
Patterson-UTI’s Surprisingly Strong Results Upend Forecasts

Patterson-UTI’s Surprisingly Strong Results Upend Forecasts

Patterson-UTI Energy Inc. did something in the final three months of 2012 that no other onshore oilfield services provider has announced yet: hydraulic fracturing (fracking) services climbed and sales surpassed expectations — surprising even company executives.

February 11, 2013
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