Sentences with phrase «essar oilfields services»

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.

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.

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.

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

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.

• 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.

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.

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.

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.

General Electric's deal with Baker Hughes to create the world's No. 2 oilfield services business is the clearest signal yet that consolidation is picking up in the energy sector as companies face long - term lower oil prices.

Sinking crude prices hit oilfield services provider Baker Hughes early this year, and it subsequently cut 7,000 employees from its payroll.

In addition, the solidification of the three global giants in oilfield services poses a question of how smaller companies will compete.

Another of GardaWorld's most important clients, Schlumberger — the world's largest oilfield service company — was also affected.

The oilfield services company announced this week that it would cut 2,000 employees from its North American work force, and will stop paying dividends to shareholders, citing difficult market conditions.

McDermott International — The oilfield services company rejected a $ 7 per share takeover bid from Norwegian peer Subsea 7, according to a statement from Subsea 7 this morning.

In addition to E&P, Warburg Pincus Energy will also pursue opportunities in the midstream, oilfield services, mining and power sectors around the world.

In a letter to some 2,000 remaining employees (down from 4,300 in 2014), CEO Darin MacDonald announced the family - owned oilfield services company was entering creditor protection and selling two divisions — along with his own resignation.

Wellsite, a professional network and collaboration platform for the upstream oil and gas industry, today announced a major blockchain initiative for its flagship platform, Wellsite.com, with the launch of a token sale for its cryptocurrency designed for the oilfield services market, Crudecoin.

With $ 1 billion of cumulative equity commitments, Carnelian focuses on lower - to - middle market equity investments in the North American upstream, midstream and oilfield services sectors.

Schlumberger (SLB.N), the world's top oilfield services provider, has taken a 20 percent stake in Borr, which plans to list on the Oslo exchange by the end of the third quarter.

Before founding K2, he was with American Capital Ltd., a publicly - traded buyout and mezzanine fund (NASDAQ: ACAS), where he created the American Capital Energy Group, building a peak portfolio of nearly a billion dollars of market value of energy - related equity and debt investments across oil and gas production, oilfield services, utility services and alternative energy.

Post Oak Energy Capital is a Houston - based private equity firm primarily focused on making domestic investments in the upstream, midstream and oilfield services sectors of the energy industry.

Pearl is an energy investment firm focused on pursuing small and middle market investments in the North American upstream, midstream, and oilfield services sectors.

Core Laboratories is a leading oilfield services provider, with 70 offices in more than 50 countries.

As mentioned earlier, energy equities decoupled from physical oil prices and sold off, including a steep decline of nearly 9 % for oilfield services industry equities, a recent trend that is somewhat difficult to fully explain.1

The overall U.S. rig count now sits at 789, up 313 rigs from this time last year when the count stood at 476, the Houston - based oilfield services provider said.

OKLAHOMA CITY (AP)-- Chesapeake Energy Corp. said its board has approved a previously announced plan to spin off its oilfield services business into a separate, publicly traded company.

He is the past - president of Speedy Heavy Hauling Ltd, an oilfield service company.

Most recently he served as Chairman of the Board, President and Chief Executive Officer of Baker Hughes Incorporated, an oilfield services company, from August 2000 until his retirement in October 2004.

Companies including Anadarko Petroleum Corp, ConocoPhillips and Occidental Petroleum Corp have saved millions on drilling and fracking wells in Texas, Colorado and North Dakota since the oil price slide started by demanding that oilfield service companies slash prices by 20 percent to 30 percent or more.

In the U.S., shale explorers have focused on the most productive parts of their land, drilled faster and better wells there and negotiated lower prices from oilfield service companies.

Founded in 1988, their goal is to help build high - growth E&P and oilfield service companies worldwide employing an active approach to increase operational growth.

Weatherford is the fourth - largest company in the oilfield services industry.

In addition, it was able to sell some non-core assets, including an oilfield services business that didn't fit well with the current long - term plan.

A recent IMR International report published by consultant, Dennis Seisun, notes the situation on guar gum remains critical for food buyers, with oilfield service companies getting priority from suppliers.

He said after the Derbythat he spent from 1995 to 2005 in Alaska working for Veco, his father's oilfield service company.