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Oil & Gas Drilling

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Helmerich & Payne to buy MOTIVE Drilling for $75 mln payable at deal closing

Monday, 22 May 2017 03:15pm EDT

May 22 (Reuters) - Helmerich And Payne Inc :Helmerich & Payne Inc announces acquisition of MOTIVE Drilling Technologies Inc .Deal for $75 million.Deal includes up to an additional $25 million in potential earnout payments based on future performance during next few years .

Sinopec Oilfield Service updates on unusual price movements in A shares trading

Monday, 22 May 2017 05:48am EDT

May 22 (Reuters) - Sinopec Oilfield Service Corp <600871.SS>:Confirms current productions and operations of company and its controlled subsidiaries are running smoothly.Co is not aware of any media coverage or market rumors which may have a material impact on trading price of co's shares.

Jasper Investments posts quarterly profit attributable US$234,000

Friday, 19 May 2017 11:23am EDT

May 19 (Reuters) - Jasper Investments Ltd :Qtrly revenue $300,000 versus $247,000.Qtrly profit attributable $234,000 versus $40,000.

Savanna Energy Services names Lyle Whitmarsh president

Thursday, 18 May 2017 05:15pm EDT

May 18 (Reuters) - Savanna Energy Services Corp :Savanna Energy Services Corp announces executive appointment.Savanna Energy Services Corp - announces appointment of Lyle Whitmarsh as president of Savanna.

Ocean RIG UDW Inc agrees with DRH Group to "enhance" recoveries of holders of 6.5 pct senior secured notes due 2017

Thursday, 18 May 2017 09:00am EDT

May 18 (Reuters) - Ocean RIG UDW Inc :Ocean RIG UDW Inc., announces enhanced Drillrig Holdings Inc ("DRH") scheme terms and agreement with an ad hoc group of noteholders of the 6.5 pct notes issued by DRH to sign up to the amended restructuring support agreement.Ocean RIG UDW Inc - reached agreement with DRH Group to "enhance" recoveries of holders of 6.5 pct senior secured notes due 2017 issued by DRH under DRH scheme.Ocean RIG UDW Inc - deadline for DRH early consent fee extended to 5pm NY time on May 31, 2017 and increased from $2.5 million to $3.0 million.Ocean RIG UDW - under modified scheme, amount of equity in reorganized UDW that will be distributed to holders of DRH notes will be increased from 2.6 pct to 3.6 pct.Ocean RIG UDW Inc - DRH early consent fee will be increased from $2.5 million to $3.0 million.Ocean RIG UDW Inc - terms of DRH scheme have also been modified to provide DRH cash option.Ocean RIG UDW - holders of DRH notes will be provided option to put their DRH scheme shares to members of DRH Group for cash equal to 90 pct of value of DRH scheme shares.

Matrrix Energy Technologies Inc Q1 revenue C$1.5 million

Wednesday, 17 May 2017 06:00pm EDT

May 17 (Reuters) - Matrrix Energy Technologies Inc :Matrrix announces first quarter 2017 results.Matrrix Energy Technologies Inc - qtrly loss per share $ 0.02.Qtrly revenue C$1.5 million versus. C$925,000.

Paragon Offshore files for administration in UK to advance Chapter 11 plan

Wednesday, 17 May 2017 09:29am EDT

May 17 (Reuters) - Paragon Offshore Plc :Paragon Offshore files application for administration in United Kingdom to advance its Chapter 11 plan.Paragon Offshore Plc - remains on track to emerge from Chapter 11 in july.Says administration process in UK is a necessary part of previously announced restructuring plan.Paragon Offshore Plc - Paragon will continue to operate in normal course during administration.Paragon Offshore Plc - drilling contracts will continue and vendors and employees will continue to be paid.Paragon Offshore Plc - administrators will assume all powers to manage affairs of company.Paragon Offshore Plc - consensual plan will eliminate more than $2.4 billion of existing debt.Paragon Offshore - Paragon's existing board has agreed to remain involved in an advisory capacity to administrators until co emerges from Chapter 11.Paragon Offshore Plc - filed an application for appointment of two partners of Deloitte LLP to serve as joint administrators of company.

Precision Drilling expects Canadian activity to be at trough levels for the year

Monday, 15 May 2017 08:30am EDT

May 15 (Reuters) - Precision Drilling Corp :Precision Drilling announces 2017 analyst and investor day highlights and activity update.Precision Drilling Corp - expects current Canadian activity to be at trough levels for year due to Canadian market's annual spring break up.Precision Drilling Corp - in U.S., Precision currently has 55 active rigs and quarter-to-date average active rig count in U.S. is 58 rigs.Precision Drilling Corp - expects to have five additional rigs contracted and activated over next three weeks.Precision Drilling Corp - internationally, activity continues to progress as expected with eight rigs active in quarter.

Xinjiang Beiken Energy Engineering Stock sets up assets management subsidiary in Ningbo

Monday, 15 May 2017 05:16am EDT

May 15(Reuters) - Xinjiang Beiken Energy Engineering Stock Co Ltd <002828.SZ> ::* Says it completed establishment of wholly owned assets management subsidiary in Ningbo with registered capital of 30 million yuan .

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