drilling companies

Markets

Seadrill stock rises on speculation of bailout

Offshore drilling firm Seadrill rose the most in more than seven years as investors covered short bets after the company’s main owner, billionaire John Fredriksen, freed up $510 million in cash, fueling speculation of a bailout.

Oil & Gas

Oilfield services prospects set fair

The oilfield services (OFS) industry was enjoying one of its most prolonged up-cycles in memory until the global recession reared its ugly head. After adjusting to the new financial environment and beginning to show positive signs again, the blowout on the Deepwater Horizon on April 20, 2010, happened.