A NuSeis Cableless Recording System was Successfully Tested in Minusinsk at the Beginning of April 2019
A NuSeis cableless recording system, produced by GTI (Geophysical Technologies Inc., USA), was successfully tested in the southern part of the Krasnoyarsk region at the beginning of April 2019. The acquisition tests were carried out according to an agreement between NewTech Services, CIS, and Geotech Seismic Services. NewTech Services is …
Weatherford Reaches Agreement With Senior Noteholders On Terms Of Comprehensive Financial Restructuring To Create Sustainable Capital Structure And Greatly Enhance Liquidity
Financial Restructuring Expected to be Implemented through “Pre-Packaged” Chapter 11 Process and Will Reduce Company’s Long-Term Debt by More Than $5.8 billion Proposed Restructuring Contemplates $1.75 Billion in New Financing and up to $1.25 billion in Additional Post-Emergence Financing Weatherford Operations Are Continuing Without Interruption and With No Expected Impact …
Weatherford: Oilfield Services Firm to File for Chapter 11 Bankruptcy
Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which at its peak was valued at more than $50 billion, never recovered from the 2014 oil price collapse. Efforts under …
PGS ASA: Confirms Name Change from Petroleum Geo/Services to PGS
May 9, 2019: Oslo, Norway, at the annual general meeting held on April 24, 2019 it was approved to change the Company’s name from Petroleum Geo-Services ASA to PGS ASA. The name change is now registered in the Norwegian Companies House and is in full effect. source
Parker Drilling: Q1 2019 Results – Books $90.2m Loss
Parker Drilling Company today announced results for the first quarter ended March 31, 2019, which included a net loss of $90.2 million, or a $9.63 loss per common share on revenues of $157.4 million. First quarter Adjusted EBITDA was $28.4 million.1 Gary Rich, the Company’s President and CEO, said, “With our …
Probe: Launches High-Speed Digital Telemetry
Probe, a leading supplier of cased-hole logging and advanced monitoring technology to the global oil and gas and geothermal industries, today announced that it continues to make headway in offering its customers additional resources to dramatically increase their data logging capabilities through the adoption of its high-speed digital (HD) telemetry …
Schlumberger: Introduces IriSphere, an Industry-First Continuous Resistivity Look-Ahead-While-Drilling Service
IriSphere look-ahead-while-drilling service reduces drilling risks and improves efficiency by providing data ahead of the bit in real time Schlumberger today introduced the IriSphere* look-ahead-while-drilling service at the Offshore Technology Conference. The new service provides the industry’s first application of electromagnetic (EM) technology for detecting formation features ahead of the …
Kværner ASA: Q1 Results 2019: Solid Q1 Performance, Expects Increased Annual Revenues
The results for the first three months in 2019 is the 31st quarter in a row where Kvaerner delivers solid, positive results. Per 31 March, the revenues were NOK 2 158 million including joint ventures. The corresponding EBITDA was NOK 137 million, and the EBITDA margin was 6.3 percent. The first quarter …
Aker Solutions: Launches ix3 to Accelerate Field Development and Optimise Operations
Aker Solutions launches ix3(TM) – a software and digital services company that enables operators to accelerate field development projects and optimize asset performance. ix3 has created a digital twin platform called Integral(TM) that brings together engineering, manufacturing and test data with live-streamed operational data. Integral monitors, assesses, maintains and optimizes energy …
Halliburton: Launches Flex™ Managed Pressure Drilling System
Halliburton today released Flex™ Managed Pressure Drilling System (MPD), a scalable and mobile technology that can be configured to address specific operator challenges and deliver greater rig efficiency. The tiered system allows operators to select the right level of service to help maximize the cost/benefit of managed pressure drilling services. The standard …