United States

Oil & Gas Drilling

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Sinopec Oilfield Service's 9-month net loss to widen to 8.9 bln yuan

Wednesday, 26 Oct 2016 04:42am EDT

Sinopec Oilfield Service Corp <600871.SS><1033.HK> :Says 9-month net loss to widen to 8.9 billion yuan ($1.31 billion).

Rig firm Fred. Olsen Energy sees quiet 2017

Wednesday, 26 Oct 2016 04:38am EDT

Rig firm Fred Olsen Energy's CEO Ivar Brandvold made the following comments during its Q3 presentation on Wednesday: 2017 will likely be a very quiet year for oil and gas exploration offshore Norway . Utilisation rate of global ultra-deepwater rig fleet may fall to below 50 percent in 2018 . Expects mid-water segment to recover faster than ultra-deepwater . Has employment for only one out of nine rigs from February 2017 . Says is not optimistic to win new contracts in 2017 . Idle rigs will be either cold-stacked at a cost of $3.000-5.000 per day, or warm-stacked at cost of around $7.000-10.000 per day . The firm needs around 6 months to reactivate rigs when they have been idle . Expects investments decisions made in 2017 will give contract opportunities in 2018 . Says current day rates are not sustainable in the long run, covers barely operational costs . Says company is in a good position compared to other rig firms due to its good liquidity and very limited investments in the coming years . Cash stood at $391 mln at end of Q3 For more on Fred. Olsen Energy's Q3 earnings: [nFWN1CW026] Further company coverage: [FOE.OL] (Reporting By Ole Petter Skonnord, eiditng by Stine Jacobsen) ((olepetter.skonnord@thomsonreuters.com;)).

Western Energy Services reports Q3 loss of $0.23 per basic common share

Tuesday, 25 Oct 2016 08:00pm EDT

Western Energy Services Corp : Releases third quarter 2016 financial and operating results . Q3 operating revenue decreased by $13.7 million (or 31%) to $30.7 million in 2016 . Capital budget for 2016 of $7 million remains unchanged .Q3 loss of $0.23 per basic common share.

Nabors Q3 loss per share $0.35

Tuesday, 25 Oct 2016 06:02pm EDT

Nabors Industries Ltd : Q3 loss per share $0.35 . Q3 revenue $519.7 million versus I/B/E/S view $541.3 million . Q3 earnings per share view $-0.34 -- Thomson Reuters I/B/E/S . "Experiencing significant utilization increases in lower 48 market" . "Spot market pricing continues to remain competitive" . Says "our international markets are showing signs of impending activity increases" . Third-quarter performance confirms that rig count in lower 48 market has rebounded . Says expect trend of decline in operating income to continue into beginning of 2017 driven by lower U.S. drilling margins and international utilization .Q3 operating revenues from U.S. drilling & rig services $ 116.1 million versus $ 259.9 million.

Mammoth Energy completes initial public offering of common stock

Wednesday, 19 Oct 2016 04:10pm EDT

Mammoth Energy Services Inc :Says initial public offering of 7.75 million common shares priced at $15.00 per share.

Sinopec Oilfield Service sees 9-month net loss on low oil prices, sectoral weakness

Monday, 10 Oct 2016 05:27am EDT

Sinopec Oilfield Service Corp <600871.SS><1033.HK> :Says it expects 9-month net loss at 8.9 billion yuan ($1.33 billion) due to low oil prices, sectoral weakness.

Transocean Ltd co's unit prices offering of senior secured notes

Friday, 7 Oct 2016 08:58am EDT

Transocean Ltd : Says will issue U.S. $600 million in aggregate principal amount of senior secured notes due 2024 . Co's unit has priced an offering of senior secured notes - sec filing .Says senior notes will bear interest at rate of 7.75% per annum.

Helmerich and Payne says parties in keel litigation entered a global settlement agreement - SEC Filing

Tuesday, 20 Sep 2016 04:45pm EDT

Helmerich And Payne Inc: Says on September 14, 2016, the parties in the keel litigation entered into a global settlement agreement - SEC Filing . Says estimates that its ultimate exposure will be in the range of $21 to $23 million . Says agreement providing for the payment by the company and its insurers, on behalf of all defendants, of $72 million .Says payment is due on or before December 24, 2016.

Jasper Investments enters into agreement with China Nuclear Industry Zhongyuan Construction

Wednesday, 14 Sep 2016 12:38pm EDT

Jasper Investments Ltd : Entered into an agreement with China Nuclear Industry Zhongyuan Construction Co., Ltd . Refers to co's announcement titled "proposed new assignments as project manager for infrastructural projects" on 5 September . Pursuant to which co and CNICEC have agreed to collaborate and co-operate to undertake certain aspects of some of LY projects .

Jindal Drilling & Industries June-qtr profit falls

Wednesday, 14 Sep 2016 07:09am EDT

Jindal Drilling and Industries Ltd : June-quarter net profit 94.8 million rupees versus 98.4 million rupees last year . June-quarter net sales 926.6 million rupees versus 833 million rupees last year . Further company coverage [JNDR.NS] ((Bangalore.newsroom@thomsonreuters.com)).


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