Tuesday, July 16, 2019

Energy Services News

Engie Crosses 1.5 GW Renewable Capacity in India

Image: Engie

French power group Engie’s total renewable capacity in India now exceeds 1.5 GW. The company recently bagged a 200 MW onshore wind project in the state of Gujarat from Solar Energy Corporation of India.ENGIE is all set to sign a 25-year power purchase agreement (PPA) with Federal Government entity, SECI.Earlier, Engie won a 280 MWp solar project from Gujarat Urja Vikas Nigam Limited.

US Drillers Add Rigs

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U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with oil futures up about 12% over the past couple of weeks despite plans by most producers to cut spending on new drilling this year.The rig count, however, was still down 92, or 10%, since the start of the year.Companies added four oil rigs in the week to June 28…

US Rig Count Climbs

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U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week.Big energy price declines over the prior couple of months, however, prompted one analyst to cut rig count forecasts for 2019 and 2020.Companies added one oil rig in the week to June 21, bringing the total count to 789…

C&J Energy, Keane Merge in $1.8bln Deal

Oilfield services firms C&J Energy Services and Keane Group, said  that they will merge in an all-stock deal valued at about $1.8 billion.C&J Energy, which offers a suite of oil and gas production services, and Keane, which specializes in well completions would combine in what the companies described as a merger of equals. The deal would create a company with more than $4 billion in annual revenues.Under the terms of the merger agreement…

Oilfield Services Firms Keane, C&J Merge

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Oilfield services company Keane Group Inc said on Monday it will merge with rival C&J Energy Services in a $745.7 million all-stock deal, as it looks for scale amid spending cuts by crude producers.The oil service sector has been battling lower demand and pricing pressure as U.S. producers hold off drilling new wells on investor demand that cash be used for…

KCA Deutag Names Elkhoury CEO

Image: KCA Deutag

Drilling and engineering contractor KCA Deutag has appointed a new chief executive Joseph Elkhoury, as ­current boss Norrie McKay prepares to retire. McKay will remain with the group in an advisory capacity until December 31, 2019, working closely with Joseph to ensure a smooth transition. Elkhoury brings to the role 26 years of experience in various operational and leadership roles in the oilfield services industry.

TAQA Buys Schlumberger Rigs for $415mln

Image: TAQA KSA.

Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SR1.56 billion).This acquisition will add 18 rigs to ADC fleet and welcomes more than 1,000…

US Rig Count Dips

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U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.Drillers cut eight oil rigs in the week to April 18, bringing the total count down to 825, General Electric Co's Baker Hughes energy services firm said in its…

US Rig Count Climbs

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U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks after oil futures soared nearly 40 percent this year.Companies added 15 oil rigs in the week to April 5, the biggest increase since May, bringing the total count to 831, General Electric Co's Baker Hughes energy services firm said in its closely followed…

US Rig Cuts Continue

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U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output.Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824…

Saipem Push with US Drillers Draws a Blank

(File photo: Saipem)

Italian oil services company Saipem is trying to lure big U.S.

US Rig Count Lowest Since April 2018

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U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker…

U.S. Drillers Cut Rigs to Lowest Level since May

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U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more.Drillers cut nine oil rigs in the week to March 8, bringing the total count down to 834, the lowest since May, General Electric…

US Rig Count Lowest Since May 2018

File Image: an idled oil rig in a shipyard (CREDIT: AdobeStock / © Nightman

U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1, bringing the total count down to 843, the lowest since May 2018, General Electric…

Oil Falls as U.S. Adds New Rigs, China Weakness

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Oil fell nearly 2 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest January gain for 14 years.Further weighing on oil markets, the trade dispute between the United States and China looks unlikely to end anytime soon and its impact…

Oil Rises as Investors Latch on to OPEC Cuts, Supply Outlook

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Oil rose on Monday, reversing earlier losses, as investors latched on to positive supply-side drivers for the market, although concern about the wider economy simmered in the background after data pointed to a slowdown in China.Brent crude oil futures were up 12 cents at $62.82 a barrel by 1520 GMT, while U.S. crude futures were up 9 cents at $53.89 a barrel.Analysts said a more robust backdrop for financial markets…

US Drillers Add Rigs

© Ronnie Chua / Adobe Stock

U.S. energy firms this week increased the number of oil rigs operating for the first time this year but the rig count in January fell the most in a month since April 2016, as the boom in the Permian, the nation's biggest shale oil formation, cools.Companies added 10 oil rigs in the week to Jan. 25, bringing the total count to 862, General Electric Co's Baker…

Proserv Acquires SGC Metering

Photo: Proserv

The  global energy services company has announced the acquisition of SGC Metering from Petrofac.SGC Metering is a specialist in the design and manufacture of flow computer metering systems for the oil and gas industry. It provides expertise right across the full life cycle of a metering project, including conceptual design through to installation, operations…

US Drillers Add Oil Rigs Again

File Image: AdobeStock / © Mike Mareen

U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January.Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S. rig count…

US Rig Count Climbs

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U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels.Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The U.S.