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Investment is the largest ever in a single stock for Elliott Honeywell urged to consider breaking up like industrial peers Elliott Investment Management has built a $5 billion-plus position in Honeywell International Inc. and is pushing the industrial giant to pursue a break up. The activist investment firm wants Honeywell to separate into two standalone companies, one focused …
Elliott Amasses $5 Billion-Plus Stake in Honeywell Read More »
(Reuters) – Halliburton fell short of analysts’ estimates for third-quarter profit on Thursday, as a slowdown in drilling activity in North America weighed on demand for its oilfield services and equipment. Producers have kept a tight lid on production in North America since the downturn in oil prices in 2020 and weak natural gas prices. North …
Halliburton Misses Quarterly Profit Estimates on North America Drilling Demand Weakness Read More »
Company to support projects in Brazil’s pre-salt fields, reinforcing position as a leading provider of flexible pipe for deepwater and high CO2 projects Local manufacturing boost Brazilian economy, strengthen energy supply chain HOUSTON and LONDON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday significant contracts with Petrobras to …
Company expects to beat goal of $3 billion in investor returns Schlumberger is often a bellwether for oil and gas industry SLB headquarters in Houston.Photographer: Mark Felix/Bloomberg SLB, the world’s biggest oilfield services provider, warned that spending growth by oil explorers has waned in the past few months as customers take a cautious approach amid …
SLB Warns Cautious Oil Explorers Have Slowed Growth in Spending Read More »
Oct 18 (Reuters) – Oilfield services firm SLB’s (SLB.N) third-quarter profit rose 13% and beat analysts’ estimates on Friday on steady demand for its equipment and technology in international market and from offshore projects in North America. However, the company warned of limited spending by international producers in a weak oil price environment. SLB, which gets 81% …
SLB Beats Quarterly Profit Estimates on Steady International Business Read More »
Nabors Industries on Tuesday agreed to buy drilling services provider Parker Wellbore as the oilfield services company aims to expand its global drilling business. The company would acquire Parker Wellbore for 4.8 million shares of Nabors’ common stock, subject to a share price collar, and the assumption of net debt of about $100 million. As …
Oilfield Services Firm Nabors Industries to Buy Parker Wellbore Read More »
Oilfield-service costs for US shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. This year’s reduction in drilling and fracking, combined with the push to max out efficiencies, are seen lowering per-well …
Shale-Production Costs Seen Rising 2.8% in 2025, Enverus Says Read More »
The private equity owners of Flowco have kicked off preparations for an initial public offering of the oilfield services provider that could value it at as much as $2 billion and come as early as the first half of 2025, according to people familiar with the matter. Jefferies, JPMorgan Chase and Piper Sandler have …
Flowco’s Owners Prepare to Take Oilfield Services Firm Public in 2025, Sources Say Read More »
The number of workers in US oil fields and the amount they’re paid have now fallen for two straight months to their lowest levels this year, indicating the wave of mergers and acquisitions in the sector are taking a toll on employment. The overall number of front-line US oil and gas workers fell 1.2% on a month-over-month …
Oil Field Jobs and Pay Drop as U.S. Shale Consolidation Takes Hold Read More »
Amerino Gatti appointed as executive vice president of Oilfield Services & Equipment (OFSE) business segment Maria Claudia Borras appointed as chief growth & experience officer Muzzamil Khider Ahmed appointed as chief people & culture officer HOUSTON and LONDON, Sept. 03, 2024 (GLOBE NEWSWIRE) — Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) announced …
