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All publications by tag «SERVICE»

All publications by tag
2016, September, 28, 18:30:00

WEATHERFORD PAYS $140 MLN

The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.

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2016, August, 8, 18:55:00

U.S. DEFICIT UP TO $44.5 BLN

The deficit rose to $44.5 billion in June, 8.7 percent higher than a revised May deficit of $41 billion, the Commerce Department reported Friday. It was the biggest gap between what America sells abroad and what the country imports since a $44.6 billion deficit last August.

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2016, January, 10, 17:55:00

OIL SERVICE'S CAP

Even if E&P clients are able to negotiate more favorable terms for their debt, the industry’s overextended balance sheets will put a cap on activity — even if oil prices rise. On the producer side, companies will most likely de-lever before they drill should some extra cash come in the door. For OFS, building all the new equipment such as walking rigs and big frac spreads to meet strong client demand has some players in this sector significantly over-levered.

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2015, September, 8, 18:15:00

OILFIELD SERVICES: 36% DECLINE

Amidst the gloomy days of August when Brent Crude bottomed out at $42/bbl, the acquisition of Cameron by Schlumberger ($14.8 billion) took place as one of the largest mergers in the oil patch, following the tie-up of Halliburton and Baker Hughes ($32 billion) in November 2014. This consolidation has resulted in an integrated service & equipment provider covering the full oil & gas lifecycle from reservoir to first flow.

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2015, March, 31, 21:00:00

WORST TO COME

In a keynote speech to attendees of the 2015 Coiled Tubing & Well Intervention Conference & Exhibition, Richard B. Spears, an oil field services market researcher, says the worst may be yet to come for that market, but a partial recovery also could come sooner than expected.

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2014, September, 17, 18:15:00

ISSUES FOR TESCO CORPORATION

White Eagle Partners Issues Letter to Board of Tesco Corporation Criticizes Management's Spending Plans on Tubular Services and AcquisitionsCalls on the Board Instead to Commit to Material Stock Buy-backs

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2014, August, 14, 18:05:00

AKER SOLUTIONS COULD MISS

Norway Oil Services See Russia Sanctions Risking Arctic Push

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