Services

Transco Pipeline Receives Binding Commitments On Proposed Leidy South Expansion

Williams Cos. Inc. announced Oct. 9 that its Transco interstate pipeline has executed binding, 15-year commitments with Seneca Resources Co. LLC and Cabot Oil & Gas Corp. for 100% of the 580 million dekatherms of firm transportation capacity under its proposed Leidy South expansion project. The proj ...

Baker Hughes Acquires 5% Stake In ADNOC Drilling For $550 Million

Baker Hughes (NYSE: BHGE), the world’s second-largest oil services company, will take a 5% stake in Abu Dhabi National Oil Co.’s (ADNOC) drilling unit for $550 million under a tie-up announced on Oct. 8. Baker Hughes becomes the first foreign company to take a stake in one of state-owned ADNOC ...

Tech Talk for Wednesday September 26th 2018

  Observations European ETFs trading in U.S. Dollars show technical signs of bottoming. iShares Europe briefly moved above $45.91. Natural gas prices continue to move higher during their period of seasonal strength. Nice breakout above $3.05 per MBtu!   StockTwits Released Yesterday @EquityCloc ...

Malaysia’s Sapura To Sell 50% Stake In Upstream Business To Austria’s OMV

Malaysia’s largest oil and gas services company Sapura Energy Bhd on Sept. 12 said it would sell a 50% stake in its upstream business to Austria’s OMV. The proposed deal is based on an enterprise value of $1.6 billion, Sapura said, adding the companies have agreed to continue talks on an exclusi ...

Equatorial Guinea To Crack Down On Oil Services Companies Over Local Jobs

Oil and gas services firms Schlumberger (NYSE: SLB), Subsea 7 and FMC face being banned from working in Equatorial Guinea if they do not commit by the end of this month to create more jobs for locals, an oil ministry source said on Sept. 7. The move is part of crackdown by the African country to enf ...

Tech Talk for Friday September 7th 2018

  Observations European equities and related indices/ ETFs resumed an intermediate downtrend. The Stoxx 600 Index moved below 374.38. Weakness was led by another drop in the Greece’s equity index, down 23.1% from its high in February. Weakest North American sub-sector yesterday was Oil Service ...

Petrobras To Appeal Dutch Ruling Favorable To US Oil Firm Vantage

Brazil's state-run oil company Petroleo Brasileiro SA, also known as Petrobras, said Aug. 28 it will appeal an unfavorable Dutch court ruling related to the suspension of a drilling contract with U.S.-based Vantage Drilling Co. Petrobras said it was informed that a Dutch court had granted a request ...

Tech Talk for Tuesday August 14th 2018

Pre-opening Comments for Tuesday August 14th U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Home Depot gained $4.86 to $194.14 after reporting higher than consensus second quarter sales and earnings. MasterCard (MA $202.31) is expected t ...

Tech Talk for Tuesday July 24th 2018

Pre-opening Comments for Tuesday July 24th Equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Futures were buoyed by news that China added monetary stimulus to its economy. Alphabet jumped $55.95 to $1265.13 after reporting higher than consensus s ...

Schlumberger CFO Simon Ayat Reportedly To Retire Soon

Schlumberger Ltd. (NYSE: SLB) CFO Simon Ayat plans to retire this year and a company insider has emerged as the top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters. Stephane Biguet, currently vice president of finance, is the fron ...