McDermott Appoints Krummel as CFO
McDermott International announced the appointment of Chris Krummel as Executive Vice President, Chief Financial Officer, effective immediately. Krummel joined McDermott in 2016 and previously served as the company's Global Vice President, Finance and Chief Accounting Officer. He replaces Stuart Spence…
Schlumberger Profit Beats Estimates
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America.The international business has been a bright spot for…
Schlumberger Posts Smaller Q4 Loss
Schlumberger NV, the world's No.1 oilfield services provider, reported a smaller fourth-quarter loss than a year earlier, when it recorded more than $2 billion in restructuring and asset impairment charges. Net loss attributable to Schlumberger fell to $204 million, or 15 cents per share, in the three months ended Dec.
Keppel Acquires LeTourneau
Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business, as well as its aftersales and aftermarket services.
Schlumberger issues Revenue Warnings
Schlumberger Ltd said it expected a "significant" fall in second-quarter revenue as it scales back operations in Venezuela due to payment problems, and a prolonged slump in oil prices continues to keep activity subdued. The world's No.1 oilfield services provider reported a 16 percent fall in first-quarter revenue from the prior quarter.
Schlumberger, Cameron Merger Complete
Schlumberger Limited (NYSE:SLB) announced today that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share. Schlumberger has issued approximately 138 million shares pursuant to the merger.
EU Clears Schlumberger's Acquisition of Cameron
The European Union executive on Friday cleared the purchase of equipment maker Cameron International Corp by Schlumberger, the world's No.1 oilfield services provider. Reuters exclusively reported in January that the deal would be waved through. This is the second-biggest tie-up in the energy services…
US Oilfield Firms Hesitate over Post-sanctions Iran
For U.S. oilfield services companies suffering the worst revenue slump in decades it would at first seem like a lifeline: The lifting of sanctions on Iran by six world powers reopened the door for their foreign units to return to the OPEC member that needs help to develop its oil reserves. Iran, home to the world's fourth largest crude reserves…
Maurel & Prom Mulls Merger after MPI Deal
French energy exploration and production company Maurel & Prom said it was reabsorbing its former Nigerian unit MPI as a first step towards tripling in size to cope with the impact of a plunge in the oil price. Maurel & Prom said on Thursday it was buying MPI in a deal that would give MPI investors one Maurel & Prom share for two shares held.
Schlumberger to Buy Cameron in $14.8 Bln Deal
Schlumberger Ltd will buy oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion to streamline supply chains and offer cost-effective services to oil and gas customers who have slashed budgets. The deal is the latest in a line of mergers in the energy industry as companies…
Chevron Pays $5M to Family of Pennsylvania Well Fire Victim
Chevron Corp. has paid a reported $5 million to settle a lawsuit filed last year by the parents of a worker who was burnt to death in a gas well fire in western Pennsylvania. Local media reported the $5 million settlement, saying it had been approved by a judge in Allegheny County Court of Common Pleas in Pittsburgh earlier this month.
OTC Names Technology Award Winners
The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award. The 2015 awards will be presented May 4, in the NRG Center Rotunda Lobby. The Spotlight on New Technology Awards—a program for…
Report: Faulty Blowout Preventer Contributed to BP Spill
A faulty blowout preventer and weaknesses in how companies analyze potential hazards in offshore oil and gas operations contributed to BP Plc's deadly Gulf of Mexico oil spill more than four years ago, the U.S. Chemical Safety Board said on Thursday. Despite tougher regulations, a slew of other investigations…
