Oifield Services News

 

Oilfield Equipment and Services Spending to Fall to 2005-Low

Apr 01, 2020

Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending.The decline comes as the coronavirus pandemic has crushed oil and gas demand, and Saudi Arabia and Russia pump full bore in a grab for market share that has shale producers reeling…

Halliburton Tops Wall St. Quarterly Profit Estimates

Jan 24, 2023

U.S. oilfield services firm Halliburton Co  on Tuesday topped Wall Street profit estimates for its fourth quarter and said its shale oil-well fracking equipment remains fully booked with oil prices driving increased drilling. The largest provider…

New Contracts for Tekmar's Pipeshield, Subsea Innovation

Jan 10, 2023

Offshore services firm Tekmar Group said Tuesday that its group companies Pipeshield International Limited and Subsea Innovation Limited had secured several significant contracts.According to Tekmar, Pipeshield International Limited has won…

Wood Group Must Buy Back Shares to Avoid Takeover, Investor Says

Dec 08, 2022

Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks.It is the first public campaign for his $600 million multi-strategy fund…

Duo Launches RenQuip to Fill Energy Market's Tool Manufacturing and Equipment Rental Gap

Mar 07, 2022

Two experienced industry veterans Marc Gerrard and John Morgan have launched RenQuip Limited, a new Dyce, Aberdeen-based tool manufacturing and equipment rental company 'that will bridge the gap between the petroleum and renewables sectors.''RenQuip’s…

Current News

GEOxyz Opens US Office

GEOxyz Opens US Office

TWP Reveals Names for Two 1GW Offshore Wind Farms in Scotland

TWP Reveals Names for Two 1GW Offshore Wind Farms in Scotland

Wagenborg to Transport 107 Foundations for Ørsted's Offshore Wind Farms

Wagenborg to Transport 107 Foundations for Ørsted's Offshore Wind Farms

Netherlands to Build 500MW Offshore Green Hydrogen Facility

Netherlands to Build 500MW Offshore Green Hydrogen Facility

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