Oilfield service firms are poised to deliver the strongest third-quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts.Schlumberger, Halliburton, and others have struggled to regain pricing power after a 2016 price drop. The oil market crash during the pandemic in 2020 stifled hopes for a rebound…
Baker Hughes Co on Monday reported results that missed Wall Street's fourth-quarter profit estimate but offered an upbeat outlook on rising demand for oil and natural gas.The oilfield services industry grew last year on higher activity in response to elevated oil prices…
Top oilfield services firm SLB on Friday reported results that topped Wall Street estimates for fourth-quarter profit on strong global demand for its drilling services and equipment.Formerly called Schlumberger, SLB has benefited from increased…
Baker Hughes Co posted a quarterly loss on Wednesday, compared with a profit a year ago, hit by $230 million in restructuring and impairment charges relating to the oilfield services provider's latest reorganization. The company during the recent…
Oilfield services firm Baker Hughes Co said on Tuesday it will simplify its organizational structure by reducing its business units to two from four, starting October 1.The company added it expects to deliver at least $150 million in cost savings…
Energy services provider Swire Energy Services has appointed Claus Rødsgaard as Head of Operations, in a newly created role for the Wind Division.Rødsgaard will support and oversee operational activity within the Swire Energy Services (SES) Wind Division and will be based in Lystrup…
U.S.-headquartered offshore support vessels (OSV) owner Tidewater Inc. on Friday announced it has completed its acquisition of Singapore's Swire Pacific Offshore Holdings Limited (SPO), creating the industry’s largest OSV fleet.The $190 million transaction adds 50 vessels to the Tidewater fleet…
Offshore services firm Swire Energy Services (SES) said it has been awarded a contract from wind farm operator Ørsted for a routine maintenance campaign off the U.K. coast for Summer 2022.The new contract will see SES provide services including…
Since the acquisition of ALL NRG in August 2021, Swire Energy Services Wind division has seen several new senior appointments, with the most recent being that of Jan Harrestrup as Head of Commercial.Leading the commercial team, Harrestrup will be responsible for global business development…
Oilfield services giant Baker Hughes has agreed to acquire Norway-based well intervention specialist Altus Intervention.The company said the acquisition of the well intervention services and down-hole oil & gas technology company, complemented…
Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s…
U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (SPO), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create…
Swire Projects, a Swire Shipping division formed last year to provide specialist shipping services to the energy, renewable, and infrastructure sectors, has agreed to charter six multipurpose heavy-lift vessels.The company said Thursday it had…
Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…
Swire Energy Services (SES) has secured a two-year deal with Ørsted to provide helideck services and helicopter refueling system services for Hornsea One offshore wind farm in the UK North Sea.This contract builds on the previous original equipment manufacturer (OEM) contract in 2017…
