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NOV Cuts Staff for Second Time This Year

Aug 20, 2019

Oilfield equipment and service provider National Oilwell Varco has begun trimming its workforce for the second time this year, two people familiar with the matter said this week, as oil producers cut spending budgets.The Houston, Texas-based…

Sparrows Secures Vendor Approval from Aramco

Jul 16, 2019

Aberdeen-based equipment and integrated engineering services company Sparrows Group said it has bolstered its position in Saudi Arabia after securing vendor approval status from national oil company Saudi Aramco.The approval allows recently formed local entity…

Ward Leonard WL29BC200 AC Induction Motor

Jul 02, 2019

The Ward Leonard WL29BC200 AC induction motor is the oil and gas industry’s only 2,000 horsepower motor designed to fit into a 1,500 horsepower motor package, according to its manufacturer.At up to 19 inches smaller and 10% lighter than competing 2…

Weatherford Files Bankruptcy Plan

Jul 01, 2019

Oilfield services firm Weatherford International on Friday filed a prepackaged restructuring plan with the U.S. Securities and Exchange Commission, according to a regulatory filing.The company, which has struggled under a heavy debt burden and years of losses…

Aker Solutions Raises 2019 Forecasts

Apr 30, 2019

Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield spending…

Baker Hughes Profits from Foreign Focus

Apr 30, 2019

Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent.Oilfield service companies…

Boskalis to Install Cables for Hornsea 2

Apr 29, 2019

Royal Boskalis Westminster N.V. (Boskalis) said it has been awarded a €100 million ($111.6 million) contract from Ørsted to install three export cable circuits for the Hornsea 2 offshore wind farm.The wind farm will consist of up to 165 turbines with a maximum capacity of 1…

Halliburton Reports Activity Uptick

Apr 22, 2019

Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services providers…

Schlumberger Quarterly Profit Slides

Apr 18, 2019

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.Schlumberger said net income fell to $421 million…

Talakar Named CEO of Siemens Oil & Gas

Apr 18, 2019

Arja Talakar has been appointed CEO of Siemens Oil & Gas, effective April 1, 2019. He will be based in Houston.Talakar brings to this position extensive leadership experience. Prior to taking this new role, he was responsible for Siemens Saudi Arabia…

Delta Controls Buys Emerson's Mobrey Range

Apr 01, 2019

UK based Delta Controls announced Monday it has signed an agreement to purchase the Mobrey line of measurement products manufactured in Slough, UK from U.S.-headquartered global technology and engineering company Emerson.Mobrey is a supplier of level products for the power…

Sercel Launches DAS Seismic Solution

Mar 20, 2019

Seismic equipment and reservoir monitoring instrument manufacturer Sercel has launched its first distributed acoustic sensing (DAS) seismic solution.SigmaWave, designed in partnership with DAS specialist Fotech Solutions, integrates Fotech’s…

Kvaerner to Pay First Dividend Since 2015

Feb 12, 2019

Oil platform builder Kvaerner on Tuesday unexpectedly proposed its first dividend since 2015 and said it may make another such payment later this year, sending its shares soaring.The company said it expected to compete for contracts worth 30-50 billion Norwegian crowns ($3…

Baker Hughes Adjusted Profit Surges 85%

Jan 31, 2019

Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector…

Schlumberger Sees International Growth in 2019

Jan 18, 2019

Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices many producers were evaluating spending budgets for 2019…

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