Weatherford Exits Laboratory Services Business In $250 Million Sale
CSL Capital partnered with the Carlyle Energy Mezzanine Opportunities Fund II LP to acquire Weatherford’s laboratory and geological analysis business.
Halliburton International Sales Rise, Offsetting Weak US
Oilfield services provider Halliburton Co.’s (NYSE: HAL) third-quarter profit edged past analysts’ estimates on Oct. 22, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions.
Rowan Norway Wins Contract For Equinor’s Gudrun Field
Rowan Norway Ltd. has been awarded a contract for drilling two wells at the Gudrun Field by use of the Rowan Stavanger jackup rig, the company said on Oct. 22.
SPAC Led By Former Schlumberger CEO To Form Midstream Services Company
The merger of the SPAC, Sentinel, with midstream services company Strike is set to create the largest pure-play pipeline infrastructure and integrity services provider valued at $854 million.
Australia's WorleyParsons To Buy Jacobs' Energy, Resources Arm For $3.3 Billion
U.S. firm Jacobs Engineering Group Inc. has agreed to sell its energy, chemicals and resources business to WorleyParsons for $3.3 billion, in a deal that will double the size of the Australian engineering services firm.
US Rig Count Rises To Highest Since March 2015
U.S. drillers added oil rigs for a second week in a row this week, raising the rig count to the highest level since March 2015.
HEADLINES: Range Resources’ Marcellus Sale; Nine Energy, Magnum Oil Tools Merger
Plus, Interior Secretary Ryan Zinke hints some states will be exempt from offshore drilling expansion and Shell’s Groundbirch shale gas project gets greener.
Offshore Drillers Eye Recovery By 2020
Drillers have been predicting an upturn for more than a year only to disappoint but debt ratings firm Moody’s Investors Services said last month that it believed 2018 could mark the low point for industry earnings.
Nine Expands With $493 Million Magnum Oil Tools Acquisition
Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.
Waste Management Energy Services Opens Solids, Liquids Injection Disposal Facility In West Texas
Waste Management Energy Services of Texas, LLC, an in-direct subsidiary of Houston-based Waste Management, Inc. (NYSE: WM), announced On Oct. 11 that its new Reeves County Solids and Liquids Injection Facility, designed for the safe disposal of oilfield wastes, is now fully operational.