PGS: 2015 Results
PGS Highlights 2015 Revenues of $961.9 million, compared to $1,453.8 million in 2014 EBITDA of $484.5 million, compared to $702.6 million in 2014 EBITDA margin of 50% in 2015, compared to 48% in 2014, enabled by substantial cost reductions of $318.5 million EBIT, excluding impairments and other charges, of $15.8 …
Hradil Offshore Control Cables Fully Compliant with IEC standard 60079-14
The new Hradil HB44® offshore control cables for use in explosive areas can effectively prevent zone entrainment within the cable. Hradil Spezialkabel offers the new HB44® offshore control cables in a wide range of configurations from 3 x 1.5 mm2 to 36 x 1.5 mm2. Customized configurations such as 2 …
Weatherford Reports Fourth Quarter and 2015 Annual Results
Weatherford International plc (NYSE: WFT) reported a net loss before charges of $102 million ($0.13 net loss per share before charges) on revenues of $2.01 billion for the fourth quarter of 2015. GAAP net loss for the fourth quarter of 2015 was $1.21 billion, or a net loss of $1.54 per share. Full year revenue was down $5.5 billion and operating …
Wacker Neuson Group Expands its Executive Board
As of April 1, 2016, Jan Willem Jongert (51) will join the Executive Board of Wacker Neuson SE. In his new role as Chief Sales Officer (CSO), Mr. Jongert will be responsible for the global sales, service, logistics and marketing activities of the Wacker Neuson Group. New delineation of responsibilities …
Trican Well Service Reaches Agreement for Sale of Its United States Pressure Pumping Business and Amended Covenant Package With Its Lenders
Trican Well Service Ltd. (“Trican” or “the Corporation”) (TSX:TCW) is pleased to announce that it has entered into a definitive agreement with Keane Group, a privately-held, U.S. based well completion services company (“Keane”) for the sale of Trican’s United States pressure pumping business. The transaction involves the sale of the pressure …
Polarcus Announces Further Cost Reductions and Organizational Changes
Polarcus further improves its cost position with the announcement of additional headcount reductions and changes to the executive management team. The expanded cost reductions are part of a longer term plan which will continue to improve competitiveness while maintaining exceptional operational performance and sustaining positive operational cash flow. The plan …
TMK Announces 4Q 2015 and FY 2015 Operational Results
In 2015, TMK shipped a total of 3,873 thousand tonnes of steel pipe, down 11.5% y-o-y. The decline was due to a significant drop in shipments in the American division, driven by a slowdown in drilling across the United States. In 4Q 2015, shipments were down 4.0% q-o-q to 938 thousand tonnes. In 2015, seamless pipe shipments fell by …
Polarcus: Setting World Records – Largest Made Made Towing Object on Earth!
Polarcus is currently acquiring an ultra-wide 3D marine seismic project offshore Myanmar. Polarcus Amani is towing an in-sea configuration that measures 1.8km wide across the front ends. With each of the ten streamers separated by 200m, the total area covered by the spread is 17.6 sq.km. This is the largest …
Petroleum Geo-Services ASA : Resilient MultiClient Performance – Q4 Non-cash Charges
Petroleum Geo-Services ASA (“PGS” or “the Company”) expects to report a full year 2015 EBITDA of approximately $485 million. For Q4 2015, the Company expects to report consolidated revenues of approximately $230 million and an EBITDA close to $120 million, excluding the charges and provisions described below. The Company achieved …
Trican Well Services: In Talks to Sell US Pressure Pumping Business to the Keane Group
Trican Well Service Ltd. announces that it is in negotiations with Keane Group, a privately-held, U.S. based well completion services company (the “Purchaser”) for the sale of Trican’s United States pressure pumping business. Although talks are progressing, significant terms and conditions are still under negotiation. Accordingly, there can be no …