Weatherford Unveils Artificial Intelligence Based Well Construction Technology At ADIPEC
Artificial intelligence is finding ways in the oil and gas industry given the number of disruptive technologies that are shaping the future of industry.
Forbes Energy Services Grows Coiled Tubing Business With Cretic Acquisition
As a result of the Cretic acquisition, Forbes Energy Services said it will have one of the largest fleets of large-diameter, high-capacity coiled tubing units with a footprint in the Permian.
Geospace Technologies Picks Up PGS’ OptoSeis Business For Up To $25 Million
Geospace Technologies acquired the OptoSeis fiber optic sensing technology business from a Petroleum Geo-Services subsidiary in a deal worth up to $25 million in cash.
HEADLINES: Oil Prices’ Bumpy Ride
Meanwhile, natural gas prices made a spectacular climb plus OPEC considers production cuts, TransCanada reviews Keystone XL decision and Weatherford stock drops below $1.
New Design Answers The Call For More Horsepower, More Speed
A new land rig design offers shale drillers 2,000-hp drawworks and reduced footprint.
Forty Under 40: Bryan Gaudin, Holland Services
Bryan Gaudin, CEO of Holland Services who helped lead the Fort Worth, Texas-based land services firm’s aggressive and successful growth strategy, is today’s Forty Under 40 honoree.
TechnipFMC Signs Surface Technologies Frame Agreement With Chevron
This five-year agreement covers the exclusive supply of surface wellhead equipment and service in the U.S. and Canada.
Shares In Oilfield Services Firm Weatherford Drop Below $1
The stock, which peaked at almost $50 in 2008, has fallen sharply since oil prices crashed in late 2014, leading to a string of losses at Weatherford since the third quarter that year.
Pioneer Sells Pressure Pumping Assets To ProPetro For $400 Million
The sale of the company’s pressure pumping business to ProPetro will bring Pioneer Natural Resources’ divestiture proceeds for the year to roughly $900 million.
GE Seeks To Raise $4 Billion With Sale Of Baker Hughes Stake
GE, which bought Baker Hughes in July 2017, has been selling off assets and cutting costs to lower its debt and focus on its core businesses of jet engines, power plants and renewable energy.