Despite U.S. oil drillers cutting eight rigs in the week to Jan. 4, according to Baker Hughes, the rig count in the United States is still much higher than a year ago.
Analysts say the oilfield services sector could see a 10% to 15% increase in overall earnings in 2019 as E&Ps increase spending.
Halliburton CEO and President Jeff Miller has assumed the role as board chairman from Dave Lesar, who retired as CEO in 2017 but had remained executive chairman.
Equinor (NYSE: EQNR) has awarded Aibel the engineering, procurement and construction contract for the final bridge on the Johan Sverdrup field, the company said on Jan. 3.
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The agreement for one of Transocean’s two ultra-deepwater drillships currently under construction also includes a five-year drilling contract with Chevron worth $830 million.
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U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in oil prices, according to Baker Hughes.
The work includes the installation of a second 30-in, diameter gas export pipeline, infield clad lines, umbilicals and electrical/fiber optic cable as well as EPCI work for the 10-well, deepwater field development, Saipem said in the release.