Technymon GBT Acquires Bimetal Experience
Technymon Global Bearing Technology (GBT), a leading manufacturer of sliding bearing products, has announced the acquisition of Bimetal Experience, a Turin-based manufacturer of bimetal bearings, bushings, shells and washers. Bimetal will be a division of Technymon GBT, which manufactures ISO-certified quality products in Europe, the United States and India. Both …
Reactive Downhole Tools Strengthens Position in Middle East
Reactive Downhole Tools, independent supplier of well completion solutions to the global oil and gas industry, has announced Niall Urquhart as VP Eastern Hemisphere, to support its growth plans for the regions. Boasting over 10 years of experience in the oil and gas sector, including project engineer for Baker Hughes, …
Parker Drilling Plan of Reorganization Confirmed by Court
COMPANY EXPECTS TO EMERGE FROM CHAPTER 11 LATER THIS MONTH Parker Drilling Company today announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed the Amended Joint Chapter 11 Plan of Reorganization of Parker and its debtor affiliates. Parker expects to complete its restructuring and …
Halliburton Introduces New Motors Center of Excellence
Halliburton Company today announced Motors Center of Excellence, a new approach to drilling motor development that combines specialized engineering and manufacturing capabilities to customize motor designs for specific basin challenges. The center deploys the latest mechanical engineering expertise to build more durable motors that drill faster and allow for longer …
Plexus Holdings PLC: Russian Licensee Awarded Gas Exploration Drilling Contract by Gazprom
First major contract for POS-GRIP rental exploration wellhead equipment secured by Russian licensing partner with global energy giant Gazprom Covers the first year of a five-year jack-up gas exploration drilling programme which provides additional revenue stream for Plexus under existing Licence Agreement Breakthrough order in what is a key market …
National Oilwell Varco Declares Regular Quarterly Dividend
National Oilwell Varco, Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on March 29, 2019 to each stockholder of record on March 15, 2019. About NOV National Oilwell Varco is a leading provider of technology, equipment, …
Weatherford Completes Sale of Algeria Land Drilling Rigs
Weatherford International plc today announced it has completed the sale of four contracted drilling rigs in Algeria. The Company expects that the remaining two rigs will transfer within the following four weeks after relocating within Algeria. This will complete the sale of Weatherford’s land drilling operations in Algeria, which in total includes six …
TMK Announces FY 2018 and 4Q 2018 IFRS Results
PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, today announces its audited consolidated IFRS financial results for the year ended December 31, 2018. FY 2018 and 4Q 2018 Highlights Financial – FY Revenue up 16% y-o-y at $5,099m, 4Q Revenue up …
Saltel Widens Xpandable Steel Packer Footprint with New Installation of 5 AZIP Packers Between Active Inflow Control Devices, in Libya
Rennes, 28th Feb 2019. Ageing horizontal wells from the Zelten field (Sirte Basin, Libya) tend to face excessive water breakthrough. The client experienced the case in his open hole porosity producer well. Production tests showed a severely reduced oil rate of 210 barrels of oil per day (BOPD), and underlined …
Nabors Announces Fourth Quarter Results
Fourth Quarter Highlights: – Net debt decreased by $245 million – U.S. Lower 48 daily margin increased by $700 to over $9,400 – Nabors Drilling Solutions EBITDA increased by 43% to $23 million Nabors Industries Ltd. today reported fourth quarter 2018 operating revenues of $782 million, compared to operating revenues …