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Tag Archives: oilfield services

US rig count drops 12 this week to all-time low of 464

rig count, baker hughes

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped 12 this week to 464, a record low amid continuing price woes in the energy industry. A year ago, 1,048 rigs were active. Houston-based oilfield services company Baker Hughes Inc. said Thursday 372 rigs sought oil and 92 explored for natural gas. Among ...

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Keeping it clean: Using natural gas as a smart energy source

light tower rentals natural gas generator

When people imagine an environmentally-friendly future, they picture massive wind turbines spiraling peacefully in the wind, solar panels collecting near-endless sunshine, and dams wrangling the sheer power of the waterways. They don’t, however, imagine a natural gas processing plant or natural gas generators. If humanity is to ever realistically achieve a “green” future, they should. Natural gas production has increased in years ...

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Halliburton to cut 5,000 more jobs

Halliburton to cut 5,000 more jobs

Oilfield services company Halliburton will eliminate 5,000 more jobs – about 8 percent of its global workforce. Ongoing market conditions led to the decision, according to a statement by Halliburton. As oil prices hover near $30 per barrel, producers struggle to remain viable. Benchmark U.S. crude sold for $33.07 on Thursday. “We regret having to make this decision but unfortunately ...

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Rig count down 27 to 514; Texas drops 12

US rig count drops 27 this week to 514; Texas down 12

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 27 this week to 514. The Houston company said Friday 413 rigs sought oil and 101 explored for natural gas amid depressed energy prices. A year ago, 1,310 rigs were active. Among major oil- and ...

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Keane Group triples fracking capacity

Keane Group triples fracking capacity

Keane Group, a Texas well completion services company, tripled its hydraulic fracturing capacity by agreeing to a $247 million deal with Canada-based Trican Well Service on Tuesday. The Houston-based company acquired the majority of Trican Well Service’s assets in the United States. Keane Group purchased the assets with $200 million in cash plus a minority interest stake in Keane Group. ...

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IHS Names Sourcewater Inc an Energy Innovation Pioneer for 2016

IHS, the leading source of insight, analytics and expertise in critical areas that shape today’s business landscape, has named Sourcewater, Inc. an Energy Innovation Pioneer for 2016. Sourcewater will be featured at CERAWeek, the world’s premier energy industry gathering, to be held February 22-26 in Houston. Sourcewater, a spinout from MIT’s Energy Ventures program, is the first online marketplace for ...

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U.S. regulators seek more concessions to OK Halliburton-Baker Hughes deal

Various Halliburton equipment being stored at the equipment yard in Alvarado, Texas June 2, 2015. While giants like Halliburton, Baker Hughes and Schlumberger are weathering the slump by cutting tens of thousands of jobs, small- and medium-sized firms that make up at least half of the nearly $100 billion a year U.S. oil services industry that provides fracking sand and specialized chemicals for fracking have been hit far harder than their large, cash-rich rivals by the downturn, experts say. Picture taken on June 2, 2015. REUTERS/Cooper Neill - RTX1GZSL

Halliburton Co <HAL.N> and Baker Hughes Inc <BHI.N> said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals. The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday, the ...

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