Superior Drilling Shareholders Approve Buyout by Drilling Tools International
Superior Drilling Products shareholders approved the company’s $32 million acquisition by Drilling Tools International.
International, Tech Drive NOV’s 2Q Growth Amid US E&P Headwinds
Despite a U.S. drilling slowdown, slightly offset by Permian Basin activity, NOV saw overall second-quarter revenue grow by 6%, although second-half 2024 challenges remain in North America.
Technip Energies Awarded Low-emissions Technology Contract from CPChem
Technip Energies will perform engineering and procurement for Chevron Phillips Chemical’s low emission cracking furnace in Sweeny, Texas.
CEO: Baker Hughes Lands $3.5B in New Contracts in ‘Age of Gas’
Baker Hughes revised down its global upstream spending outlook for the year due to “North American softness” with oil activity recovery in second half unlikely to materialize, President and CEO Lorenzo Simonelli said.
H&P’s $2B KCA Deutag Deal Positions Driller as Global Powerhouse
Helmerich & Payne’s acquisition of U.K. service company KCA Deutag will expand its international reach, particularly in the Middle East, as well as its onshore presence in the U.S.
Nabors’ High-spec Rigs Help Keep Lower 48 Revenue Stable in 2Q
Nabors’ second quarter EBITDA was down 1% quarter-over-quarter but the company sees signs of increased drilling activity in international markets the second half of the year.
Helmerich & Payne to Acquire KCA Deutag for $2B
H&P expects the acquisition of KCA Deutag to expand its international footprint, particularly in the Middle East, and enhance its global onshore drilling role.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
Private Equity Firms Buy Pipe-coating Company MCIP
Milestone Capital and D2 Equity Capital acquired purchased a majority interest in family-owned pipe-coating business MCIP.
Archrock to Buy NatGas Compression Firm TOPS for $983MM
The acquisition of Total Operations and Production Services will increase Archrock's compression capacity by 30% to nearly 2.2 million operating horsepower.