OFS Consolidation Continues with Flowserve to Buy MOGAS
Flowserve will purchase MOGAS Industries for at least $290 million, part of a number of oilfield service company acquisitions announced in 2024.
E&P Highlights: Aug. 12, 2024
Here’s a roundup of the latest E&P headlines, with a major project starting production in the Gulf of Mexico and the latest BLM proposal for oil and gas leases in North Dakota.
Enservco Sells Colorado-based Assets to HP Oilfield Services
Oilfield service company Enservco also announced its acquisition of Buckshot Trucking is expected to close soon.
Atlas Energy Appoints Chris Scholla as New COO
Chris Scholla previously served as Atlas Energy Solutions’ chief supply chain officer and pushed the company into the oilfield logistics market.
Patterson-UTI Boosts Bottom Line with OFS Acquisitions
Less than a year out from the closing of its merger with NexTier and its acquisition of Ulterra Drilling Technologies, Patterson-UTI is taking strides not to be the latest has-been.
Dividends Declared in the Week of Aug. 2
Here is a selection of dividends declared for the week of Aug. 2 for a selection of upstream, midstream and service & supply companies.
Southwest Gas Selects Bowman to Survey in Nevada, California
Virginia-based Bowman Consulting Group has been selected a fifth time for ongoing an on-call agreement with Southwest Gas.
Transocean Announces $531MM GoM Contract with BP
BP’s contract with a Transocean vessel is expected to culminate in a drilling program beginning in first-quarter 2025.
BP Awards Subsea Alliance Contract for UK North Sea Development
SLB, OneSubsea, Subsea 7 and the Subsea Integration Alliance will increase speed of tool delivery, optimize installation and reduce rig days at BP’s Murlach development in the North Sea.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.