Houston-based Schlumberger will issue five tranches of senior notes worth US$6 billion to help fund its pending $14.8 billion mega merger with Cameron International. Image from Schlumberger. Last week on 10 December…
Schlumberger has decided to “right size” its organization with another round of job cuts this quarter that will see the oil services giant incur an estimated restructuring charge of about US$350 million. Schorn…
The US Department of Justice (DOJ) has cleared the proposed multi-billion dollar merger between Schlumberger and Cameron International without any conditions, both companies announced in a joint statement on Wednesday (18 November). The…
Schlumberger is at it again with another acquisition, this time of US-based Fluid Inclusion Technologies (FIT), which specializes in laboratory analysis of trapped fluids in rock material, and advanced borehole gas analysis on drilling wells…
Oil services giant Schlumberger revealed its revenue took a 33% plunge in 3Q 2015 with revenue hitting almost US$8.5 billion for the period, citing a decline in rig activity and pricing pressure as the reasons. The results are causing the…
R. Scott Rowe has assumed the role of president and CEO of Cameron International, effective today, the oilfield equipment provider announced. Rowe has served with Cameron for 13 years, most recently as president and chief operating officer…
Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities. The…
Oil & Gas UK chief executive Deirdre Michie formally opened the new Aberdeen base for Cameron Flow Control Technology (UK) Ltd. on 10 September 2015. Cameron's Aberdeen facility. Image from Cameron…
Amidst the gloomy days of August when Brent Crude bottomed out at $42/bbl, the acquisition of Cameron by Schlumberger (US$14.8 billion) took place as one of the largest mergers in the oil patch, following the tie-up of Halliburton and Baker Hughes ($32 billion) in November 2014…
Schlumberger announced its takeover of US-based Novatek Inc. and Novatek IP, LLC. that will provide a new platform to improve drilling performance to the growing oil services giant’s portfolio. Schlumberger's StingBlade…
Singapore’s Keppel Offshore & Marine has agreed to buy Cameron International’s offshore rig business for US$100 million, comprising of the LeTourneau jackup rig designs. Keppel says the LeTourneau suite of jackup rig designs have been…
Oil services giant Schlumberger (SLB) entered into a deal to acquire Cameron International in a US$14.8 billion stock and cash deal that will offer the industry’s first complete drilling and productions systems. Image from Schlumberger…
Aker Solutions has won a maintenance, modifications and operations (MMO) contract from ExxonMobil for engineering, procurement, construction and maintenance services at the Hebron oilfield offshore Canada. The Hebron oil field is located offshore Newfoundland and Labrador…
OneSubsea, a Cameron and Schlumberger company, and Chevron USA Inc. agreed to form a joint industry program (JIP) to develop subsea systems technology for 20,000-psi applications. The JIP, known as the 20Ksi Subsea System Development Program…
OneSubsea has been awarded a US$330 million subsea production systems contract for a gas project offshore North Africa. The scope of supply for the 13-well development includes subsea production equipment, tooling, and installation and commissioning services…
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