Oil and Gas Energy Equipment and Services

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  • May 6- U.S. oil drillers cut rigs for a seventh week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, although as analysts see an end to the nearly two-year slump in drilling for new wells. RIG-OL-USA- BHI> In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since...

  • NEW YORK, May 6- For the past year and a half, a chart of the number of U.S. oil rigs in operation has resembled a death-defying ski slope- but it may be time to get back on the chair lift. The number of active oil rigs in the U.S. has fallen for six weeks, and was at a seven-year low as of April 29, according to data from oil service company Baker Hughes. Some believe the rig count...

  • HOUSTON, May 5- Apache Corp's cost savings in the first three months of 2016 exceeded its own expectations and are likely to continue even if oilfield services costs rise, executives of the Houston- based oil and gas producer said on Thursday. The cost cuts mean the company could achieve its goal of cash flow neutrality for 2016 with oil prices at $35 per barrel and...

  • The company's net income attributable to controlling interest was $249 million, or 68 cents per share, in the first quarter ended March 31, compared with a loss of $483 million, or $1.33 per share, a year earlier. Excluding items, the company earned 69 cents per share. Revenue fell 34.4 percent to $1.34 billion.

  • But, the company's shares were down 3.6 percent at $40.53, amid a broader decline in energy stocks. "We are going to invest in those product lines where we're a little bit weak, and we'll look at selective acquisitions to round them out," Halliburton Chief Executive Dave Lesar said on a post-earnings conference call. Halliburton's deal for Baker Hughes, valued at $35...

  • CARACAS/ HOUSTON, May 3- Venezuelan state oil firm PDVSA has issued at least $310 million in debt to companies including General Electric Co as it negotiates private issuances to pay off its suppliers, industry sources told Reuters, stretching the finances of a company that bondholders already worry is on its way to default. The securities are not bonds but offer...

  • May 3- Halliburton Co, the world's No.2 oilfield services provider, reported a bigger first-quarter loss, hurt by $2.77 billion in charges for asset impairment and other reasons. Net loss attributable to the company widened to $2.41 billion, or $2.81 per share, in the three months ended March 31, from $643 million, or 76 cents per share, a year earlier.

  • May 1- Oilfield services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in...

  • May 1- Oilfied services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in...

  • The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in November 2014, and is now worth about $28 billion, expired on Saturday without an agreement by the companies to extend it, the person added. The Houston- based company will continue to focus on keeping its profit margins...

  • The contract governing Halliburton's acquisition of Baker Hughes, which was valued at $35 billion when it was announced in November 2014, expired on Saturday without an agreement by the companies to extend it, the person added. The U.S. Justice Department filed a lawsuit to stop the deal last month, arguing it would leave only two dominant suppliers in 20...

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • LONDON, April 28- An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export crude oil led to the ship being blacklisted by the United Nations Security Council. The Distya Ameya tanker is heading to the western Libyan port of Zawiya, said Nagi al-Maghrabi,...

  • NEW DELHI, April 28- India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government and to await instructions from the United Nations, a senior Indian government official said on Thursday. The tanker, the Distya Ameya, is carrying 650,000 barrels of crude on...

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • April 27- Oilfield services provider Baker Hughes Inc said on Wednesday that U.S. rig count will likely stabilize in the second half of the year after falling in the current quarter. Net loss attributable to Baker Hughes widened to $981 million, or $2.22 per share, in the first quarter ended March 31 from $589 million, or $1.35 per share, a year earlier.

  • April 27- Oilfield services provider Baker Hughes Inc reported a bigger quarterly loss, hurt by a continued decline in drilling activity. Net loss attributable to Baker Hughes widened to $981 million, or $2.22 per share, in the first quarter ended March 31, from $589 million, or $1.35 per share, a year earlier. Revenue fell 41.9 percent to $2.67 billion.

  • The adjacent 310,000 bpd Cardon facility was processing around 110,000 bpd, added Freites, citing Monday's internal report of Venezuela's top refineries in the wind-swept Paraguana peninsula. A shipper close to Venezuela's exports said the Paraguana refineries' processing rate was at historical lows in early April. In the last few months, Venezuela's oil...

  • UNITED NATIONS, April 26- Libya has asked the United Nations Security Council to blacklist an Indian-flagged tanker on its way to Malta carrying crude oil shipped by the rival eastern Libya government, Libya's U.N. envoy said on Tuesday. Libyan Ambassador Ibrahim Dabbashi told Reuters he had written to the Security Council sanctions committee to complain...

  • CALGARY, Alberta, April 25- Oil and gas producer Husky Energy reported a first-quarter loss on Monday and said it has agreed to sell a partial interest in a package of Canadian midstream energy assets to two Hong Kong- based firms for C $1.7 billion in cash. Husky will retain 35 percent interest and remain operator of the assets, which are located in Alberta and...