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Energy Equipment and Services

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  • U.S. crude for September delivery was down 14 cents at $48 as of 0024 GMT, after closing the previous session down 31 cents at $48.14, its lowest settlement since March 31 and down 5.5 percent on the week. Brent crude futures for September delivery fell 4 cent to $54.58 after ending the previous session 65 cents down, the lowest close since March 19 and a drop of 4.3...

  • *Drillers add 21 oil rigs in U.S. this week- Baker Hughes. NEW YORK, July 24- Brent and U.S. crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in U.S. oil drilling rigs applied pressure. U.S. energy firms added 21 oil rigs this week after pulling seven rigs last week, oil...

  • OIL DRILLERS ADD RIGS THIS WEEK DESPITE CRUDE PRICE COLLAPSE- BAKER HUGHES.

  • July 23- Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The company's balance sheet lists $266 million in current assets and $1.35 billion in current...

  • CHESTER HILL, Pa.— A Canadian company that provides natural gas drillers with hydraulic fracturing and other services has laid off 60 workers at its central Pennsylvania operation. The Centre Daily Times reports the layoffs leave Calfrac Well Services with about 10 employees who will maintain its equipment, facility and to support the company's sales.

  • Hercules Offshore reports 2Q loss Thursday, 23 Jul 2015 | 7:57 AM ET

    HOUSTON _ Hercules Offshore Inc. on Thursday reported a second-quarter loss of $88.3 million, after reporting a profit in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • ANCHORAGE, Alaska— The Obama administration has given Royal Dutch Shell PLC approval to begin limited exploratory oil drilling off Alaska's northwest coast. "Without question, activities conducted offshore Alaska must be held to the highest safety, environmental protection and emergency response standards," said the bureau's director, Brian Salerno.

  • Precision Drilling reports 2Q loss Thursday, 23 Jul 2015 | 6:09 AM ET

    CALGARY, Alberta _ Precision Drilling Corp. on Thursday reported a loss of $24.2 million in its second quarter. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share. Precision Drilling shares have decreased 15 percent since the beginning of the year.

  • Land driller Patterson-UTI swings to quarterly loss Thursday, 23 Jul 2015 | 6:08 AM ET

    July 23- Land rig provider Patterson-UTI Energy Inc swung to a quarterly loss as oil and gas producers cut back on drilling amid a steep drop in crude prices. The company reported a net loss of about $19 million, or 13 cents per share, in the second quarter ended June 30, compared with a profit of $54.3 million, or 37 cents per share, a year earlier. Revenue fell nearly 38...

  • Weatherford reports 2Q loss Wednesday, 22 Jul 2015 | 7:57 PM ET

    ZUG, Switzerland _ Weatherford International Ltd. on Wednesday reported a loss of $489 million in its second quarter. The average estimate of 16 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share. Thirteen analysts surveyed by Zacks expected $2.4 billion.

  • Flotek Industries reports 2Q loss Wednesday, 22 Jul 2015 | 5:39 PM ET

    HOUSTON _ Flotek Industries Inc. on Wednesday reported a second-quarter loss of $12.5 million, after reporting a profit in the same period a year earlier. Flotek Industries shares have fallen 32 percent since the beginning of the year. Keywords: Flotek Industries, Earnings Report.

  • Oceaneering International posts 2Q profit Wednesday, 22 Jul 2015 | 5:27 PM ET

    HOUSTON _ Oceaneering International Inc. on Wednesday reported second-quarter earnings of $65.5 million. Oceaneering International expects full-year earnings to be $2.70 to $2.90 per share. Oceaneering International shares have fallen 34 percent since the beginning of the year.

  • ANCHORAGE, Alaska— The Obama administration has given Royal Dutch Shell PLC approval to begin limited exploratory oil drilling off Alaska's northwest coast. "Without question, activities conducted offshore Alaska must be held to the highest safety, environmental protection and emergency response standards," said the bureau's director, Brian Salerno.

  • July 21- Oilfield services provider Baker Hughes Inc, which is being acquired by larger rival Halliburton Inc, said it expects unfavorable market conditions to persist for the rest of the year. "In North America, we don't anticipate activity to increase while commodity prices remain depressed," Baker Hughes Chief Executive Martin Craighead said in a statement...

  • Baker Hughes reports 2Q loss Tuesday, 21 Jul 2015 | 8:09 AM ET

    HOUSTON _ Baker Hughes Inc. on Tuesday reported a second-quarter loss of $188 million, after reporting a profit in the same period a year earlier. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share. Baker Hughes shares have increased 6 percent since the beginning of the year, while the Standard& Poor's 500...

  • July 21- Oilfield services provider Baker Hughes Inc, which is being acquired by larger rival Halliburton Inc, posted a quarterly loss, compared with a year-ago profit, as a steep drop in oil prices kept a lid on drilling activity. Net loss attributable to Baker Hughes was $188 million, or 43 cents per share, in the second quarter ended June 30, compared with a profit of...

  • CF Industries and Exelixis are big market movers Monday, 20 Jul 2015 | 4:32 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Morgan Stanley, down 16 cents to $40.04. CF Industries Holdings Inc., down $3.92 to $65.

  • *U.S. crude futures drop below $50 intraday. NEW YORK, July 20- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. August crude, set to expire on Tuesday, fell 74 cents to settle at $50.15, having fallen to $49.85, its first time...

  • *U.S. crude futures drop below $50 intraday. NEW YORK, July 20- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. August crude, set to expire on Tuesday, fell 74 cents to settle at $50.15, having fallen to $49.85, its first time...

  • NEW YORK, July 20- Oil futures fell and U.S. crude briefly slipped below $50 a barrel in choppy trading on Monday as ample supply, the prospect of more crude entering the market and the stronger dollar combined to pressure prices. Brent September crude was down 53 cents at $56.57 a barrel at 2:02 p.m. EDT, having swung from $56.45 to $57.44. August crude was down 74...