Akastor ASA: Fourth Quarter Results 2018
PERFORMANCE SUMMARY Q4 2018 · Total revenues were NOK 1 090 million, up 22% compared with the same quarter previous year · EBITDA was NOK 63 million, at the same level as EBITDA in Q4 2017 adjusted for several special items · Net interest-bearing debt was NOK 146 million, increased by NOK 70 million …
Akastor ASA: MHWirth Strengthens Leadership
Merrill A. “Pete” Miller Jr. appointed Executive Chairman and Eirik Bergsvik appointed CEO Akastor ASA, an oil service investment company, today announced that Pete Miller has been appointed Executive Chairman of MHWirth and Eirik Bergsvik as CEO. Both changes are effective today. Akastor Chairman Kristian Røkke says: “Pete Miller has …
Boskalis Signs Deal to Sell its Equity Stake in SAAM SMIT Towage for USD 201 Million
Royal Boskalis Westminster N.V. has signed an agreement with SAAM S.A. relating to the sale and purchase of the equity stake held by Boskalis in SAAM SMIT Towage. Under the terms of the agreement, the total (100%) enterprise value of SAAM SMIT Towage is valued at USD 560 million. Boskalis …
Schlumberger Appoints Chief Operating Officer
Schlumberger announced today that its Board of Directors has appointed Olivier Le Peuch as Chief Operating Officer of Schlumberger Limited, effective immediately. Reporting to Paal Kibsgaard, Chairman and Chief Executive Officer, Le Peuch will be responsible for the day-to-day management of all worldwide operations. Previously, Le Peuch was Executive Vice …
Italy’s Lighthouse Company Talks Working in Caspian Region
Italian company Lighthouse (formerly G.A.S. Geological Assistance and Services) has many expansion plans in other countries of the Caspian basin, Alberto Panti, the branch manager of the company, told Trend. “Lighthouse is present in Kazakhstan since the 2004 and has been involved in the main offshore projects, for example the …
Tenaris, Severstal Team Up for Oil Pipe Production in Siberia
Steel pipe maker Tenaris will team up with Severstal, one of Russia’s largest steel producers, to make steel pipes in the heart of Russia’s oil and gas sector in Siberia, they said on Tuesday. New industrial projects with Western partners have been rare in Russia in the last five years …
Schlumberger Scraps Bid for Eurasia Drilling Stake
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday. (Photo: EDC) Schlumberger, which has its own business in Russia, said last month it would withdraw its application to buy a stake in EDC …
Weatherford Reports Fourth Quarter 2018 Results
Weatherford International plc reported a net loss of $2.1 billion, or a loss of $2.10 per share, for the fourth quarter of 2018. This compares to a net loss of $1.9 billion, or a loss of $1.95 per share, for the fourth quarter of 2017. The non-GAAP net loss for …
Baker Hughes, a GE Company Announces Fourth Quarter and Total Year 2018 Results
Baker Hughes, a GE company (NYSE: BHGE) (“BHGE” or the “Company”) announced results today for the fourth quarter and total year 2018. Three Months Ended Variance December 31, September 30, December 31, Year-over- (in millions except per share amounts) 2018 2018 2017 Sequential year Orders $ 6,884 $ 5,746 $ 5,701 …
Tendeka: FloFuse in Fractured Carbonate Reservoirs
Carbonate reservoirs hold approximately 60% of the world’s proven conventional oil reserves, of which about 50% feature natural fractures, with significant accumulations across the Middle East in particular. Common challenges of these carbonate reservoirs are high heterogeneity caused by complex pore and fracture systems, oil wet rock, and low reservoir …