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Tag Archives: merger

After one merger called off in energy sector, another arises

energy sector, merger

NEW YORK (AP) — FMC Technologies will attempt a merger with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy sector. The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would have more than 49,000 employees operating in 45 countries. FMC ...

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Shell reports 44 percent drop in 4Q earnings

Shell reports 44 percent drop in 4th quarter earnings

LONDON — Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on another European oil company. Profit adjusted for changes in the value of inventories and one-time items dropped to $1.83 billion from $3.26 billion in the same period a year earlier, the Anglo-Dutch energy giant said Thursday. The results came ...

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Shell shareholders approve deal to buy UK rival BG

Shell expects 4th Q profits to drop at least 40 percent

LONDON — Royal Dutch Shell shareholders have overwhelmingly backed the 34 billion pound ($49 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80 percent of shareholders approved the move on Wednesday. The deal will boost Shell’s oil and gas reserves by 25 ...

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Shell expects 4th Q profits to drop at least 40 percent

Shell expects 4th Q profits to drop at least 40 percent

LONDON — Royal Dutch Shell expects its fourth quarter profits to drop at least 40 percent to between $1.6 billion and $1.9 billion after a sharp drop in crude oil prices, but underscored its determination to press ahead with the proposed mega-merger with BG Group plc. The Anglo-Dutch energy giant said Wednesday it released the figures for shareholders ahead of ...

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Baker Hughes CEO: “Halliburton is still our competition”

The pending $34.6 billion merger between oil giants Baker Hughes and Halliburton now has a date set for its special meeting in which the shareholders will vote to approve or disapprove the monumental merger. The date for that meeting is set for March 27 at 9 a.m., according to the Houston Business Journal. The proposed merger was first announced in ...

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Nabors hoping third time’s a charm as merger’s valuation continues to fall

There are new developments in the pending $2 billion merger of Houston-based C&J Energy Services Inc. and Nabors Industries Ltd. According to the Houston Business Journal, C&J Energy announced that the cash portion of its merger with Nabors’ production and completion businesses will drop from $938 million to $688 million and that the debt incurred to fund the cash consideration ...

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Halliburton comments on last year’s earnings, 2015’s challenges

Halliburton recently released its fourth quarter earnings report for 2014 and reported total revenues of $8.8 billion compared to the previous quarter’s $8.7 billion, according to The Bakken Magazine. For both the third and fourth quarters of 2014, the company’s adjusted operating income was $1.4 billion. For the third quarter, the operating income was $1.6 billion. For the fourth quarter, ...

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Whiting Petroleum finalizes deal

Whiting Petroleum Corp. has officially finalized its all-stock deal to purchase Kodiak Oil & Gas Corp., according to the Denver Business Journal. The merger was first announced on July 13 of this year with shareholders officially approving the merger last week.  The merger will make Whiting Petroleum the largest crude-oil producer in the Bakken shale region of the northern Great ...

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Nabors and C&J Energy loan put on pause

According to Fuel Fix, due to low oil prices C&J Energy Services Inc. put their loan on hold. C&J Energy, a Houston, Texas-based hydraulic- fracturing company, has postponed its $650 million loan that will fund the company’s merger with Nabors Industries Ltd. C&J Energy commented on the loan being put on hold: C&J Energy Services remains on track to close ...

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