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Energy Equipment and Services

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  • Calfrac Well Services reports 1Q loss Thursday, 30 Apr 2015 | 1:51 PM ET

    Calgary, Alberta _ Calfrac Well Services Ltd. on Thursday reported a loss of $10 million in its first quarter. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share. Calfrac Well Services shares have increased almost 2 percent since the beginning of the year.

  • OTTAWA, April 30- The Canadian economy stalled in February as a pickup in the retail sector was offset by a decline in manufacturing and a steep drop in support activities for the mining and energy sector, data from Statistics Canada showed on Thursday. Economists are watching to see how the economy is coping with the drop in the price of oil, a major export for...

  • POLL-Oil prices to stay weak for at least a year Thursday, 30 Apr 2015 | 6:00 AM ET

    *Brent crude oil seen averaging $60/ barrel, WTI $54.40 in 2015. April 30- Oil is likely to stay relatively weak for at least the next year, a Reuters poll forecast on Thursday, suggesting a slowdown in oil production in the United States will not be enough to offset a global supply glut. The price crash has forced some exploration companies to stop drilling for oil and...

  • MOSCOW, April 30- Russia's Eurasia Drilling said on Thursday it had agreed to extend a deadline on a proposed deal to sell a stake to international oilfield services firm Schlumberger from to April 30 to May 31. Last month, Schlumberger said it planned to buy a 45.65 percent stake in Eurasia for about $1.7 billion, potentially paving the way for it to become the sole...

  • MOSCOW, April 30- Russia's Eurasia Drilling said on Thursday it had agreed to extend a deadline on a proposed deal to sell a stake to international oilfield services firm Schlumberger from to April 30 to May 31.

  • April 29- Noble Corp Plc reported a better-than-expected quarterly profit as higher margins from contract drilling services helped offset losses from retirement of rigs due to a slump in oil prices. The company, however, said it expected its capital spending to fall to about $585 million in 2015 from $1.9 billion in 2014.. Net income attributable to Noble fell...

  • Offshore driller Noble Corp's profit falls 30 pct Wednesday, 29 Apr 2015 | 5:16 PM ET

    April 29- Offshore driller Noble Corp Plc reported a 30.4 percent fall in quarterly profit as the company retired rigs due to a slump in crude oil prices. Net income attributable to Noble fell to $178.4 million, or 72 cents per share, in the first quarter ended March 31 from $256.3 million, or 99 cents per share, a year earlier. Total operating revenue rose about 1...

  • MILAN, April 29- Italian oil services company Saipem said it would vigorously contest a 174.2 million euro lawsuit from a group of investors claiming the firm overstated profits. Deminor Recovery Services, representing 64 institutional investors, said on Wednesday it was seeking the damages to cover losses on share purchases caused by Saipem's alleged...

  • Hercules Offshore reports 1Q loss Wednesday, 29 Apr 2015 | 7:51 AM ET

    HOUSTON _ Hercules Offshore Inc. on Wednesday reported a first-quarter loss of $57.1 million, after reporting a profit in the same period a year earlier. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 39 cents per share. Five analysts surveyed by Zacks expected $121.1 million.

  • *Iran ship seizure, Yemen incident boost prices early. NEW YORK, April 28- Oil prices remained under pressure on Tuesday, with Brent settling lower and U.S. crude near flat, as worries about swollen U.S. crude stockpiles cut price gains from an early rally on security scares in the Middle East and a weak dollar. U.S. crude settled up 7 cents at $57.06, after running to as...

  • UPDATE 1-National Oilwell forecasts declining revenue Tuesday, 28 Apr 2015 | 8:32 AM ET

    April 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, reported lower-than-expected quarterly revenue and forecast declining revenue for the next few quarters as weak oil prices reduce drilling activity. The company, which in February warned of a "severe downturn" in its business, said total backlog fell to $11.86 billion in the first...

  • National Oilwell profit drops 47 pct, hurt by charges Tuesday, 28 Apr 2015 | 7:12 AM ET

    April 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, posted a 47.4 percent drop in quarterly profit, mainly hurt by $200 million in charges. Net income attributable to the company fell to $310 million, or 76 cents per share, in the first quarter ended March 31, from $589 million, or $1.37 per share, a year earlier. Revenue fell marginally to...

  • *Saudi Arabia tells China ready to supply more oil if needed. NEW YORK, April 27- Crude settled lower on Monday as ample global supply blunted support from the conflict in Yemen and the falling number of U.S. rigs drilling for oil and kept traders cautious after prices reached 2015 peaks last week. "While the situation in Yemen and the falling U.S. rig count have...

  • NEW YORK, April 27- Oil futures seesawed in volatile trading on Monday as the conflict in Yemen and falling U.S. rig counts lent support, while ample global supply kept market participants cautious after prices reached 2015 peaks last week. Saudi-led aircraft pounded Iran- allied Houthi militiamen and rebel army units in Yemen on Monday as a humanitarian crisis...

  • *U.S. rig count drops to lowest since 2010- Baker Hughes. Fighting in Yemen raged on as Saudi Arabia continued its air strikes against Houthi militia forces in Aden. While Yemen itself is not among the biggest oil producers in the region, Gulf producers ship oil along the Gulf of Aden on Yemen's southern coast and through the narrow straits of Bab el-Mandeb, between...

  • CALGARY, Alberta, April 24- TransCanada Corp, whose controversial Keystone XL pipeline project has waited more than six years for U.S. approvals, is asking the Obama administration to approve another pipeline, one that would take American crude oil into Canada. The company, Canada's No. 2 pipeline operator, said it applied on Wednesday for a presidential permit...

  • CALGARY, Alberta, April 24- TransCanada Corp, whose controversial Keystone XL pipeline project has waited more than six years for U.S. approvals, is asking the Obama administration to approve another pipeline, one that would take American crude oil into Canada. The company, Canada's No. 2 pipeline operator, said it applied on Wednesday for a presidential permit...

  • US oil and natural gas rig count drops by 22 to 932 Friday, 24 Apr 2015 | 1:25 PM ET

    Houston- based Baker Hughes said Friday 703 rigs were seeking oil and 225 explored for natural gas. Among major oil- and gas-producing states, Texas lost 19 rigs; North Dakota lost five; Oklahoma was down three; and Alaska, New Mexico and West Virginia each lost one. Louisiana gained two rigs, while Arkansas, California, Colorado, Kansas and Pennsylvania each gained...

  • The threat of Islamic State group militants, who have swept across much of northern Iraq and are battling Kurdish forces only miles away from the Kurdish capital, Irbil, has dampened international interest. The security threat only increases oil companies' doubts, on top of falling oil prices and disputes between the Kurds and the Iraqi central government in...

  • April 23- Oil and gas driller Helmerich& Payne Inc reported a better-than-expected quarterly profit as demand for its high-tech rigs remained resilient despite the slump in crude prices. Net profit fell to $149.5 million, or $1.37 per share, in the second quarter ended March 31, from $174.6 million, or $1.59, a year earlier. Excluding gains of about $47 million...