Service Companies & Manufactures

Kvaerner is implementing a broad range of precautions to mitigate the effects of the covid-19 virus.  Focus is on protecting life and health for people in Kvaerner, at our business partners and in the societies around us. In addition, the company works to reduce the effects on ongoing operations and future business opportunities.   Kvaerner’s Executive Management Team has decided …

Parker Drilling Company today announced that its Board of Directors, following a global search led by Heidrick & Struggles, has appointed Sandy Esslemont, a veteran of the oil & gas industry, to serve as President and Chief Executive Officer. Mr. Esslemont will also join the Company’s Board of Directors. He …

Our manufacturing plant, technical center and warehouses remain open and our associates around the world are continuing to work hard to serve you. Many states in which we operate, including our home state of Ohio, have recently issued orders closing down non-essential businesses. However, because our business is essential, we …

Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice. Additionally, Equinor has started to implement   measures to reduce operating costs, capex and exploration spend. An updated outlook is expected to be presented to the market by the end of March 2020. “As …

Varel International Energy Services, the international supplier to the Oil & Gas industry, has announced a multi-million-dollar investment from Blue Water Energy, the international private equity firm that specialises in the energy sector. Varel International Energy Services (VIES) is the parent company of Varel, the global supplier of drilling solutions …

Nabors Industries Ltd. today announced that its Board of Directors has approved a proposal, to be submitted to shareholders for approval at a special general meeting of shareholders anticipated to be held on April 13, 2020, to, among other things, effect a consolidation (reverse stock split) of Nabors’ common shares. …

ConocoPhillips announced today that it is taking several actions in response to the recent oil market downturn. “Our industry is clearly experiencing an unprecedented event brought about by simultaneous supply and demand shocks,” said Ryan Lance, chairman and chief executive officer. “The actions we are now taking reflect an acknowledgement …

Weatherford International plc announced today its results for the fourth quarter and full year 2019. Weatherford emerged from Chapter 11 bankruptcy protection pursuant to a prepackaged plan of reorganization on December 13, 2019 and eliminated $6.2 billion of debt as part of its financial restructuring.  Upon emergence, Weatherford adopted fresh-start accounting which results in Weatherford becoming a new entity …

Archer Limited is pleased to announce the appointment of Dag Skindlo as the Company’s new Chief Executive Officer. Dag Skindlo joined Archer as Chief Financial Officer and EVP Strategy in May 2016. Kjell-Erik Østdahl, Chairman of Archer, comments: “I’m pleased that Dag will take on this challenge. We have had …

CGG announced today that its backlog, from its new profile, at the end of February 2020 stands at $537m, up 34% compared to last year. Following CGG’s recently announced exit from the marine and land acquisition business, CGG has transformed into a People, Data and Technology company providing a comprehensive …