Sentences with phrase «burgan oilfield»

The two companies now have a joint marketing agreement and 30 units operating in the Bakken oilfield of North Dakota and Montana.

When the company auctions that oilfield drill, for example, the goal is for its pricing model to forecast demand in the near future based on different factors, such as the price of oil, leaving Ritchie Bros. less vulnerable to market surprises.

Forced to evacuate 30,000 Chinese workers from Libya, they now find their oilfields there frozen as the new regime attempts to nationalize the assets of companies that co-operated with the deposed Ghadafi regime.

When structuring a deal for a used oilfield drill for an upcoming auction in Texas, for example, staff look at what similar equipment sold for in that area in the recent past and use that as a guide.

Also on Friday, oilfield services firm Baker Hughes reported the total number of rigs drilling for crude in the United States fell by 13 to a total of 400 in the previous week.

When oil prices last took a precipitous dive in 2009, David Yager was CEO of a medium - size oilfield services company.

«We used a very, very sophisticated management strategy: You throw shit over the side till the boat floats,» says Yager, now national leader of oilfield services at MNP, a chartered accountancy and business consulting firm.

During oil's deep decline, Schlumberger offered to drill in oilfields that were on hiatus in exchange for a share of future production, a move that was «very controversial» and has yet to pay off, says Colin Davies, an analyst at Bernstein.

The move comes as a surprise about - turn for a company whose Chief Executive Akin Akinfemiwa told investors in Lagos in August that he wanted to aggressively pursue M&A opportunities along the energy value chain and acquire marginal oilfields to boost its upstream business.

Colin Bruce - Alleyne had been working at oilfield services provider Schlumberger for 12 years, and he was expecting a promotion — a new position as an accounts manager in Jakarta.

A better climate for oil producers is also good news for oilfield servicers.

Few industries have been hit harder in recent years than energy, and the oilfield service provider Schlumberger (slb) epitomizes both the sector's struggles and its opportunities.

The solar fields are being built beside aging oilfields — fields so depleted they now need steam injected into them to push their remaining oil to the surface.

In September, the Canadian Association of Petroleum Producers estimated that almost 35,000 oilfield workers had been laid off in 2015.

• Liberty Oilfield Services, a Denver - based oilfield services provider, announced terms for its IPO on Monday.

With headquarters in London and Houston, the combined company will have roughly $ 23 billion in annual revenue and offer oilfield gear including blowout preventers, pumps, drilling, chemicals, other products and services for oil producers in 120 countries.

General Electric on Monday completed its buyout of BakerHughes Inc, merging it with its own oil and gas equipment and services operations to create the world's second - largest oilfield service provider by revenue.

The GE deal vaults the merged business past Halliburton to rival only Schlumberger NV for dominance in the global oilfield service market.

He will be hard to replace, especially mid-cycle,» said Dan Eberhart, chief executive officer of oilfield services firm Canary LLC and a Republican fundraiser.

The money has come from investors including Blackstone Group, Carlyle, KKR & Co, and others, according to 1Derrick Ltd, which tracks oilfield land deals.

• ProPetro Holding, a Midland, Texas - based oilfield services company backed by Energy Capital Partners, raised $ 350 million in an IPO by offering 25 million shares at $ 14 per share, below its expected range of $ 16 to $ 19.

It's probably a good thing that Werklund has had plenty to keep him busy, as Tervita, the oilfield services company he co-founded nearly four decades ago, and whose board he currently chairs, has faced some turbulence in recent years.

Pardy expects we'll see a gradual shift out of integrated oil companies and into riskier, more volatile exploration - and - development and oilfield services stocks that can offer more upside, although he stresses that you can't lose sight of the companies» balance sheets.

Less than a year ago conglomerate General Electric Co combined its oilfield business with Baker Hughes, creating the second largest oilfield services company by revenue.

As for Schlumberger, investors appear jittery about the stock, in part because the world's supplier of oilfield equipment has less exposure to the lucrative shale market ---- the biggest near - term driver for sales ---- than competitors.

The company's properties in the Bakken oilfields in North Dakota and the gas - rich Marcellus shale in Pennsylvania have proven much more bountiful than first thought, a windfall Dundas attributes to the company's skills upgrade.

Energy giant Woodside Petroleum says it has completed its $ US440 million purchase of ConocoPhillips» stake in an oilfield off the coast of Senegal, despite leaving a contractual dispute with one of the project's partners unresolved.

KUWAIT CITY — Kuwait's state - run oil company says it has contained a fire at an onshore oil rig in the country's southwestern oilfields.

Part of the reason for the growing disparity, say energy watchers, is the remarkable productivity of the newly developed Bakken shale oilfields in Montana and North Dakota, which flow into Cushing and other mid-western hubs.

The portfolio manager likes its management team and diversification; it drills and rents oilfield equipment in Canada, the U.S. and Australia.

The oil price recovery to more than $ US60 a barrel appears to be accelerating one of the biggest corporate shuffles ever by a Western Australian company, with Seven Group getting ready to consolidate ownership of the oilfields of South Australia.

Most oilfields will produce for decades, so producers must take a view through the cycle and accept the inevitable short - term volatility.

Halliburton is in late - stage talks to acquire a fast - growing U.S. oilfield equipment supplier backed by Oklahoma energy and banking billionaire George Kaiser, according to sources familiar with the matter.

Costs for everything from skilled workers and drilling contracts to steel, raw materials, seismic surveys, engineering and a host of other oilfield services are pro-cyclical.

Australia's competition watchdog believes the planned global merger of oilfield services companies Halliburton and Baker Hughes could give the combined group, and current market leader Schlumberger, too much power.

The world's largest oilfield services provider Schlumberger reported an 88 percent rise in quarterly profit on Friday.

Oilfields are a declining asset.

The Tornados, supported by a Voyager tanker and a Reaper drone, dropped their Paveway IV guided bombs against six targets on an oilfield at Omar, «one of the ISIS's largest and most important oilfields,» according to the MoD.

A worker adjusts the valve of an oil pipe at West Qurna oilfield in Iraq's southern province of Basra.

Some of its offerings include cleaning contaminants from crude oil, disposal of dangerous oilfield waste and storing oil.

Unlike traditional onshore oilfields, which might have an annual production decline of 5 % or less, shale oil wells often decline more than 50 % in their first year.

The US oil rig count fell by the most in two months this week, by 21 to 524, according to oilfield services giant Baker Hughes.

«If you look at the size of the oilfields discovered, they get smaller and smaller at a heartbreaking rate,» says Grantham.

Production is growing not just in Canada's oilsands but in the huge Bakken oilfield shared by Saskatchewan and North Dakota, and in the oil shales of the Rocky Mountain states.

In a February report, Vlad wrote that the company «offers relatively stable earnings predictability, non-cyclical exposure to the oilfield services space and growth prospects over the next five years.»

Meanwhile, the big wolves in the oilfield services sector like Halliburton, Schlumberger and Precision are watching the many juniors struggle to come up with the cash needed to retool themselves for the directional drilling and fracking blitz taking place in Western Canada.

• NCS Multistage Holdings, a Houston, Texas - based oilfield services provider, raised $ 162 million by offering 9.5 million shares at $ 17 apiece.

Rock Oil suffered along with other oilfield services firms from the downturn in drilling in its home province in recent years.

The belt - tightening is cascading down to the oilfield services sector.

On the one hand, oilfield service companies have realized how valuable the data they get can be, while on the other hand, the E&P companies say they own everything coming out of their wells, including the data.