Service Companies & Manufactures

Shearwater is pleased to announce that the company will have a total of 10 vessels in operation for the 2019 northern hemisphere summer season.  This extensive fleet is brought into operation on the back of solid backlog and provides marine seismic acquisition services spanning towed and seabed activities in response …

Weatherford International plc announced today that additional holders of its senior notes have signed the restructuring support agreement (the “Restructuring Agreement”) previously announced by the Company on May 10, 2019.  With the new signatories, over 74% of the Company’s senior unsecured note holders are now parties to the Restructuring Agreement, an …

PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, today announces its interim consolidated IFRS financial results for three months ended March 31, 2019. 1Q 2019 Highlights  Financial – 1Q Revenue generally flat quarter-on-quarter and year-on-year at $1,257m – 1Q Adjusted EBITDA …

Ingersoll-Rand plc, a world leader in creating comfortable, sustainable and efficient environments, today announced it has completed the acquisition of Precision Flow Systems (“PFS”) from funds advised by BC Partners Advisors L.P. and The Carlyle Group. The transaction was completed on May 15, 2019 for approximately $1.45 billion. PFS is …

Wellbore Integrity Solutions (WIS), an affiliate of private equity firm Rhône Capital, and Schlumberger today jointly announced that they have entered into an agreement for WIS to acquire the businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services, along with part of a manufacturing facility located …

Schlumberger today announced that it has renewed and significantly expanded its agreement with Google Cloud to develop cloud-native E&P applications to help its customers derive actionable insights from data and harness the power of Google’s cloud infrastructure and artificial intelligence (AI) capabilities. Schlumberger has deployed its oil and gas petrotechnical …

DNV GL and Nanyang Technological University, Singapore (NTU Singapore) are supporting academic advances in additive manufacturing – the process of 3D printing – for the maritime, oil and gas and other industries, through a four-year research collaboration agreement. Two new doctoral student (PhD) positions are being created through the Industrial Postgraduate …

Counterfeit products are a trap for end-users and a pain for bearing producers. By chasing a cost-saving some of end-users are eventually faced with huge production loses caused by downtime and the extra-cost of repairs. The principle of “pay less now to pay more later” is evident. One of the …

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 …

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 …