Top oilfield services provider Schlumberger reported a drop in quarterly profit, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.
Since 2014, the domestic energy landscape has changed at a Usain Bolt type of pace.
Residents of Ecuador's Lago Agrio region have been trying to force Chevron to pay for water and soil contamination caused from 1964 to 1992 by Texaco, which Chevron acquired in 2001.
Investor pressure is increasing for oilfield service companies to provide returns over growth. Opportunities may improve as the second half of 2019 unfolds.
Joseph A. Mills, currently Roan board member and head of Samson Resources II, will assume the duties and responsibilities of Roan CEO following Tony Maranto’s resignation on April 15.
Investors have not paid enough attention to the oil and gas sector, Corvex Management manager Keith Meister said.
Analysts with Morgan Stanley see a misconception on industry spending creating opportunities for oilfield services with their top pick being TechnipFMC.
Chevron’s major drivers for the combination include Anadarko’s tight oil assets in the Permian and D-J basins plus its Mozambique LNG project and U.S. Gulf of Mexico assets, analysts say.
The merger between offshore drillers Ensco and Rowan faced some headwinds, including opposition from one of Rowan's largest shareholders, which led the companies to amend terms of the transaction earlier this year.
Equitrans, already one of the largest natural gas gatherers in the U.S., said its affiliate completed the acquisition of two gas gathering systems in Appalachia, Eureka Midstream and Hornet Midstream.
