GE: Moves to Innovative Rental Model to Reduce Offshore Drilling and BOP Costs
General Electric Co. is expanding its focus on offshore drilling rig safety with a new business that will take over handling of massive underwater equipment designed to prevent well blowouts and oil spills. Diamond Offshore Drilling Inc. has agreed to sell back its blowout preventers to GE, which will then …
Halliburton: Response to European Commission’s Suspension of Formal Review Period
The European Commission has requested additional information as part of its ongoing review process, and Halliburton and Baker Hughes intend to provide the additional information as expeditiously as possible. Requests for additional information are part of the usual post-filing process. The suspension of the formal review period is standard procedure …
Aker Solutions and Total: Collaborate on Cost Effective Subsea Field Technologies
Aker Solutions and Total agreed to collaborate on research and innovation to develop new cost-effective subsea field technology. The initial four-year technical collaboration agreement will build on earlier cooperation and bring both companies closer in developing technologies that will reduce costs and increase value at subsea oil and gas fields. …
Fugro: Brice Bouffard Elected to the Board
Brice Bouffard (45) most recently worked at Weatherford, a large US based multinational oilfield services company, where he held positions first as Global Vice President Petroleum Consulting and later as Global Vice President Wireline and Testing, a large business with activities in more than 50 countries. Prior to Weatherford, he …
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 …