Archer and IKM in for Baker Hughes’ pumping and tubing division
A pair of firms are making a play for Baker Hughes’ coil tubing and pumping business, potentially paving the way for its takeover of rival Altus Intervention.
oilfield services
Saipem unveils new CEO after Caio resigns with immediate effect
Saipem (MIL: SPM) has announced the appointment of a new chief executive after incumbet Francesco Caio resigned with immediate effect.
Choppy waters ahead for oilfield service businesses as the windfall tax creates uncertainty
Legislation for the energy profits levy passed through the House of Commons recently to the dismay of many in the industry.
Halliburton takes $366m impairments on Russia invasion of Ukraine
Marketing for sale its business in Russia and impairments on its assets in Ukraine saw Halliburton (NASDAQ: HAL) take $366m of impairments in the first half of 2022.
Baker Hughes misses estimates, warns of geopolitical instability
Baker Hughes reported lower than expected first-quarter earnings and said the rest of the year will be impacted by “broad-based inflation and supply pressures,” exacerbated by “unfortunate geopolitical events” including uncertainty in Russia.
Altus Intervention to be acquired by oilfield services giant Baker Hughes
Oilfield services giant Baker Hughes has signed a deal to acquire wells specialist Altus Intervention.
Hunting to appoint former Schlumberger director to board
Oilfield services firm Hunting plans to appoint a former top boss at Schlumberger to its board.
Enerquip marks ‘important first’ with $500K Uganda contract
Aberdeen-based oilfield services firm Enerquip has hailed a landmark move into a new market with its first ever contract to supply equipment to Uganda.
OSSO doubles size of Aberdeen headquarters, plans to expand team
Oilfield equipment specialist OSSO has announced its move to a larger headquarters in Aberdeen.
Signs point to a more positive year for the global energy supply chain
The Omicron virus variant has plunged the world into yet more uncertainty in recent months – but even so, 2021 will be remembered as the year when the pandemic loosened its grip on global energy markets and the supply chain could start to recover from last year’s 14% drop in global energy spending. Investments grew 7% this year, putting economies, energy demand and the supply sector on the road to recovery.
Aberdeenshire engineering firm Infinity to double headcount in aggressive growth drive
Aberdeenshire-based engineering company Infinity expects to double its headcount over the next three years in an aggressive push for growth.
FutureOn signs digital twin partnership deal, secures £3.3m investment
Energy software firm FutureOn is hoping the formation of a new strategic partnership will allow it to maintain “streamlined and effective” operations.
Schlumberger anticipates ‘exceptional growth cycle’ amid profits boost
Schlumberger (NYSE: SLB) enjoyed a boost to profits in the third quarter as the oilfield services giant plans to “close 2021 with strong momentum”.
Halliburton results show ‘effectiveness’ of strategy as company reports profits of £596m
Halliburton’s chief executive has praised the “effectiveness” of its “strategy and execution” after the company reported a healthy balance sheet.
International demand for its oilfield technology boosts revenue at north-east firm Tendeka
Bosses at oilfield services firm Tendeka are toasting new international contracts worth more than £22 million for work over the next three years.
Oilfield services firm Expro unveils narrower losses ahead of tie-up with Frank’s
UK-based energy services firm Expro has delivered its last set of results before its "merger" with Dutch rival Frank’s International.
Baker Hughes trims losses in second quarter
Baker Hughes trimmed its losses in the second quarter as drilling activity continued to rebound from the pandemic-driven oil bust.
Halliburton strategy ‘working well’ says CEO as company posts healthy H1 profits
Halliburton’s chief executive says the company’s strategy is “working well” after a relatively healthy financial start to the year.
Baker Hughes’ new North Sea OFS boss sets out decarbonisation objectives
Baker Hughes’ new North Sea vice president for oilfield services (OFS) has made decarbonising operations one of her key priorities.
Expro, FTAI Ocean team up to deliver well intervention services to subsea sector
Oilfield services firm Expro has formed an exclusive partnership with FTAI Ocean for the supply of its well intervention vessel.
Expro and Frank’s merger unlikely to lead to ‘significant’ changes in Aberdeen
Expro’s chief executive says he doesn’t anticipate its amalgamation with Frank’s International to lead to any “significant headcount changes” in Aberdeen.
Sparrows lands seven-figure, five-year deal with ‘major’ operator for work in US
Sparrows Group has bagged a five-year contract worth more than £1 million for work in the US.
Bilfinger Salamis offers to work with mediator on trade union recognition
Offshore contractor Bilfinger Salamis has indicated it is open to the possibility of trade union recognition, around five years after it allegedly stopped acknowledging them.
Baker Hughes and Akastor ASA to team up to deliver offshore drilling solutions
Baker Hughes and Akastor ASA have announced plans to form a joint venture company to provide global offshore drilling solutions.
Hunting forms strategic partnership with Well Data Labs, gives firm £1.8m in convertible capital financing
Oilfield technology firm Hunting has formed a strategic partnership with Well Data Labs (WDL) and agreed to provide the firm with $2.5 million (£1.8m) in convertible capital financing.