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Halliburton plans to sell spate of businesses

NEW YORK — Oil and gas drilling services company Halliburton said Tuesday it will sell several businesses as it works to complete its $34.6 billion acquisition of competitor Baker Hughes. Halliburton said it will sell its directional drilling and logging- and measurement-while-drilling businesses and part of its drill bits division. The Houston company said it will market the businesses separately ...

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Consol Energy using engines to cut fracking pump emissions

IMPERIAL, Pa. — Consol Energy has begun using new, cleaner-burning engines to run its hydraulic fracturing pumps at natural gas well sites on Pittsburgh International Airport property. The company says the diesel engines are supposed to cut harmful emissions by 36 percent. They’re developed jointly by Cummins Inc., which makes engines and fuel systems, and Halliburton, the oilfield services company. ...

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Trican lays off 137 employees

Trican

Trican Well Service recently laid off 137 employees based in Odessa, according to a notice filed with state regulators, representing another sign the strain of low prices on workers in the oil patch. The effective layoff date for the employees was March 20, according to a letter sent to the Texas Workforce Commission that was released to the Odessa American ...

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Halliburton, Baker Hughes shareholders overwhelmingly approve merger

Halliburton, Baker Hughes

Halliburton shareholders have overwhelmingly approved the company’s long-awaited merger with Baker Hughes, the Digital Journal reports. Baker Hughes also announced on Friday that its stockholders adopted the merger agreement, thereby approving the merger. Each company held their own special meetings Friday morning. Nearly 99 percent of the shareholders at Halliburton’s special meeting voted in favor of the proposal to issue ...

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Halliburton closing Minot facility, transferring many jobs

MINOT, N.D. — Houston-based oil field services company Halliburton is suspending operations at its facility in Minot and transferring many of the jobs there to locations in Williston and Dickinson. Spokeswoman Susie McMichael says the company will shut down the Minot facility on April 1 due to “changing business needs from its customers.” Halliburton isn’t saying how many of the ...

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Wait— How many jobs cut?

job cuts

At this point in the oil slump, dreaded jobs cuts hardly come as a surprise anymore; this week, Talisman Energy let go of 200 employees while Neven energy cut 400. But how many total American jobs have low oil prices cost? A recent Forbes article estimates at least 75,000—about 12 percent of the nation’s oil and gas workforce—so far. According ...

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Potential mega-deal meets rumor mill

A potential monster-sized acquisition that would even make Halliburton blush is soon to be coming to a water cooler near you. Norwegian-based oil giant Statoil ASA (NYSE: STO) is tossing around the idea of potentially acquiring Houston-based EOG Resources Inc. (NYSE: EOG) in a deal that could be worth over $50 billion, according to the Houston Business Journal. That dollar ...

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North Dakota’s job landscape shifting (for now) away from Big Oil

WILLISTON, N.D. – Halliburton Co , Schlumberger NV and other large energy companies were conspicuously absent from a major North Dakota job fair this week, a telling sign as employers in the No. 2 U.S. oil-producing state grapple with sliding crude prices . Instead of roustabouts, the state’s oil industry wants pump technicians, gas-processing plant operators and truck drivers to ...

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Oil and gas sector tarnishes strong U.S. jobs report

NEW YORK – The U.S. oil and gas sector bled away more jobs last month as sustained low oil prices forced energy producers to reduce spending, suggesting that further pain may be ahead for the struggling industry. A roughly 50 percent drop in oil prices since June has pummeled the U.S. oil sector, prompting a quick drop in activity. The ...

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Amid low oil prices, companies wait to frack, complete wells

CASPER, Wyo. — Oil companies that operate in Wyoming report that they are holding off on hydraulic fracturing and are waiting to complete newly drilled oil wells to save money during low oil prices. Oil prices are down around $50 a barrel, or roughly half the price a year ago. The hydraulic fracturing process of pumping pressurized water, sand and ...

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