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Baker Hughes Inc

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  • LONDON, Dec 19- Large oil companies flush with cash are expected to seize on the recent collapse in oil prices to begin a shopping spree for smaller rivals, focusing on oil producers and explorers in Africa, Asia and the United States. Those include British oil and gas company BG Group, which produces oil and gas in regions including Brazil, East Africa and Australia.

  • Analysts say companies with considerable debt such as Nabors Industries Ltd and small private firms with less efficient rigs will scramble to keep them in operation. Rig rates of $25,000- $30,000 per day in the quarter ended Sept. 30, are expected to fall 20-25 percent or more next year and talks over lower rates are already underway, analysts said.

  • COLUMN-Clausewitz and oil prices: Kemp Thursday, 18 Dec 2014 | 10:38 AM ET

    LONDON, Dec 18- "If we consider the actual basis of this, how unreliable and transient it is, we soon realise that war is a flimsy structure that can easily collapse and bury us in its ruins." German military theorist Carl von Clausewitz was writing about the role of intelligence in warfare, but his insight about unreliable information is equally applicable to...

  • LONDON, Dec 15- The most important characteristic of the U.S. oil industry is inertia- or to put it another way, drilling and production respond sluggishly even to a large change in prices. Since 1974, there have been four episodes in which oil prices declined sharply over a relatively short time. These price slumps occurred between December 1985 and July 1986;...

  • Dec 12- Energy companies cut 29 oil drilling rigs in the United States this week, the most in two years, as oil prices kept sliding, bringing crude down 47 percent since June, data showed on Friday. The number of rigs drilling for oil declined to 1,546 in the week to Dec. 12, according to data from oil services firm Baker Hughes. Twenty-one of the 29 rigs that were cut were in...

  • Texas, North Dakota, Oklahoma, New Mexico and Colorado together account for almost 98 percent of the total rise in U.S. oil output since the beginning of 2008.. But Oklahoma, New Mexico and Colorado have collectively contributed almost an extra half million barrels per day compared with January 2008, according to the U.S. Energy Information Administration.

  • *Oil price slump could herald return of mega-mergers. LONDON, Dec 10- Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid. "Anyone who doesn't think consolidation is going to happen must...

  • The pace of drilling and production growth in the Eagle Ford and Permian Basin shale plays in Texas, which together with North Dakota's Bakken account for most of the increase in U.S. output since 2008, was accelerating in the first eight months of 2014.. The combined crude output from the Eagle Ford and Permian Basin surged by 400,000 barrels per day in the eight...

  • *Morgan Stanley cuts Brent forecast to $70 a barrel in 2015. LONDON, Dec 8- Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter...

  • LONDON, Dec 8- Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output. In a report dated Dec. 5, U.S. investment bank Morgan Stanley said oil prices could fall as low as $43 a barrel next year. "Without OPEC intervention, markets risk becoming...

  • Gas dips below $2 a gallon in Oklahoma City Wednesday, 3 Dec 2014 | 5:20 PM ET

    The OnCue Express in Oklahoma City dropped its gas price by 12 cents to $1.99 per gallon, making it the cheapest station in the country.

  • New US oil and gas well permits tumble nearly 40% Wednesday, 3 Dec 2014 | 8:00 AM ET
    A crewman watches over water tanks used for hydraulic fracturing at an Anadarko Petroleum Corporation site near Brighton, Colo.

    Plunging oil prices sparked a drop of almost 40 percent in new well permits issued across the U.S. in November.

  • Learn to buy stock like a 'greedy' Buffett Wednesday, 3 Dec 2014 | 8:00 AM ET

    The end of the year can lead investors to seek stock market bargains, but many don't understand how a contrarian really thinks, or trades.

  • Here's why traders are placing bullish bets on BP Tuesday, 2 Dec 2014 | 12:21 PM ET

    Rumor-chasing traders are betting on serious short-term gains for BP.

  • ... And these stocks are losing on lower oil Friday, 28 Nov 2014 | 1:30 PM ET
    A Halliburton worker walks through a hydraulic fracturing (fracking) site north of Dacono, Colorado, U.S.

    Oil producer and driller stocks are falling after oil's dip, but other energy companies are also seeing their stocks drop.

  • US stock futures mixed in wake of OPEC decision Friday, 28 Nov 2014 | 8:22 AM ET

    U.S. stock futures were trading mostly lower on Friday, after global markets were hit by OPEC's announcement that it would not cut its output.

  • Early Movers: XOM, HAL, DAL, GOOG, TM & more Friday, 28 Nov 2014 | 7:47 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • *RenaissanceRe to buy Platinum for $1.9 bln. NEW YORK, Nov 24- U.S. stock index futures pointed to a higher open on Monday, indicating that major indexes would move further into record territory on the back of multiple merger deals and hopes that China will take further accommodative monetary policy action. Equities closed a fifth straight week of advances Friday,...

  • US STOCKS-Futures rise, boosted by merger activity Monday, 24 Nov 2014 | 8:14 AM ET

    *RenaissanceRe to buy Platinum for $1.9 bln. NEW YORK, Nov 24- U.S. stock index futures rose on Monday, indicating that major indexes would move further into record territory, on the back of multiple merger deals and hopes that China will take further accommodative monetary policy action. Equities closed a fifth straight week of advances Friday, with the Dow and S&P...

  • Goldman Sachs Group Inc retained its No. 1 position as M&A adviser with deals worth $877 billion, followed by JPMorgan Chase& Co with $651 billion and Citigroup Inc with $633 billion. The $66.4 billion bid for Allergan Inc by Actavis PLC this week more than doubled the total value of deals in the healthcare sector to $364 billion. Halliburton Co's plans to buy...