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Oil Related Services and Equipment

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Ranger Energy Services enters into master reorganization agreement

Wednesday, 16 Aug 2017 05:21pm EDT

Aug 16 (Reuters) - Ranger Energy Services Inc ::Ranger Energy Services Inc - ‍on August 10, co entered into a master reorganization agreement - SEC filing​.Ranger Energy Services Inc - ‍entered master reorganization agreement with Rngr Energy Services, Ranger Energy Holdings among others​.Ranger Energy-‍subject to terms, parties will effect series of restructuring transactions in connection with co's initial public offering of class A stock.

John Wood Group says CMA accepts in principle remedy offered

Tuesday, 15 Aug 2017 02:23am EDT

Aug 15 (Reuters) - John Wood Group Plc :CMA HAS ON TUESDAY ACCEPTED IN PRINCIPLE THE REMEDY FORMALLY OFFERED BY WOOD GROUP ON 9 AUGUST.WOOD GROUP AND AMEC FOSTER WHEELER CONTINUE TO EXPECT COMBINATION TO COMPLETE IN Q4 OF 2017.REMEDY CONSISTS OF MAJORITY OF AMEC FOSTER WHEELER'S UK UPSTREAM OIL AND GAS BUSINESS LOCATED IN UK AND SERVING UK CUSTOMERS.AMEC FOSTER WHEELER COMMENCED A FORMAL MARKETING PROCESS IN MAY, WHICH HAS "ATTRACTED INTEREST AND IS PROGRESSING WELL".

UK's ‍CMA says onsidering oil and gas engineering services merger remedy​

Tuesday, 15 Aug 2017 02:14am EDT

Aug 15 (Reuters) - UK's ‍CMA::CMA HAS UNTIL 12 OCT TO CONSIDER IF TO ACCEPT OFFER WITH POSSIBILITY OF EXTENDING DEADLINE UNTIL 7 DEC IN SPECIAL CIRCUMSTANCES (CORRECTS SOURCE).CONSIDERING OIL AND GAS ENGINEERING SERVICES MERGER REMEDY​.CONSIDERING PROPOSALS TO OVERCOME COMPETITION CONCERNS REGARDING WOOD GROUP'S PURCHASE OF AMEC FOSTER WHEELER​.COS OFFERED TO SELL OFF ALMOST ALL OF AMEC FOSTER WHEELER'S ASSETS WHICH CONTRIBUTE TO THESE SERVICES IN ITS UPSTREAM OFFSHORE OIL AND GAS BUSINESS IN UK.‍CONSIDERS THERE ARE REASONABLE GROUNDS FOR BELIEVING THAT THESE UNDERTAKINGS, OR A MODIFIED VERSION OF THEM, MIGHT BE ACCEPTABLE AND IT WILL OPEN A PUBLIC CONSULTATION​.

Beijing Etrol Technologies unit to dissolve Suzhou-based investment fund

Sunday, 13 Aug 2017 09:55pm EDT

Aug 14 (Reuters) - Beijing Etrol Technologies Co Ltd <300370.SZ>:* Says unit will dissolve Suzhou-based investment fund and the unit is holding 23.1 percent stake in the fund .

Amec Foster Wheeler H1 revenue 2.33 bln STG vs 2.84 bln STG

Thursday, 10 Aug 2017 02:01am EDT

Aug 10 (Reuters) - Amec Foster Wheeler Plc :£159m proceeds from non core disposal programme in H1, £229m in total since Q4."First wave of benefits of transformation programme we began last year is now evident".H1 underlying revenue down 24%.In retained operations, trading margin is up 180 basis points compared to H1 last year.Offer from John Wood group remains on track to complete in Q4.2% increase in order book since year end.H1 trading profit 162 million STG versus 177 million STG.Oil, gas & chemicals - "in north america we completed restructuring of us business returning business to a small profit in H1 2017".OGC order book fell 3% during first half to £2.9bn.H1 trading cash flow 81 million STG versus 125 million STG.H1 revenue 2,333 million STG versus 2,842 million STG.H1 trading margin 7.0% versus 6.2%.H1 order book total 5.6 billion STG versus 6.2 billion STG.

Tidewater Q1 loss per share $11.13

Tuesday, 8 Aug 2017 05:17pm EDT

Aug 8 (Reuters) - Tidewater Inc :Tidewater reports first quarter results for fiscal 2018.Q1 loss per share $11.13.Q1 revenue $115.1 million.Q1 earnings per share view $-43.17 -- Thomson Reuters I/B/E/S.Tidewater Inc says company will not be hosting an earnings conference call to discuss Q1 fiscal 2018 financial results.Tidewater Inc - ‍expect to resume holding quarterly earnings conference calls to report our Q2 fiscal 2018 financial results​.Tidewater - ‍included in net loss for quarter was $313.2 million ($313.2 million after-tax, or $6.65/share) of reorganization items related to Chapter 11 proceedings​.

Natural Gas Services Group reports Q2 earnings per share $0.03

Thursday, 3 Aug 2017 06:00am EDT

Aug 3 (Reuters) - Natural Gas Services Group Inc :Natural Gas Services Group Inc reports second quarter 2017 finanical and operating results.Q2 earnings per share $0.03.Q2 revenue $16.2 million versus i/b/e/s view $16.2 million.Q2 earnings per share view $0.06 -- Thomson Reuters I/B/E/S.Natural Gas Services Group Inc - ‍ in rental business seeing slight improvements that seem to point to a better second half​.

Perisai Petroleum Teknologi obtains restraining order against all proceedings against Co

Thursday, 3 Aug 2017 06:00am EDT

Aug 3 (Reuters) - Perisai Petroleum Teknologi Bhd ::Has obtained restraining order from high court of Malaya restraining all proceedings & actions brought against Co.Restraining order is to facilitate co's plan to regularise financial condition through a proposed scheme of arrangement.Order will not have any material effect on earnings and net assets of Perisai Group for financial year ended 30 June 2017.

Fugro H1 reports net loss at 96.4 million euros

Thursday, 3 Aug 2017 01:39am EDT

Aug 3 (Reuters) - FUGRO NV ::H1 2017: SLOWER THAN ANTICIPATED BOTTOMING OUT OF OIL AND GAS MARKET IMPACTS RESULTS‍​.OUTLOOK 2017: FOR THE FULL YEAR FUGRO ANTICIPATES A DECREASE IN REVENUE, HOWEVER LESS SEVERE THAN DURING THE FIRST HALF‍​.H1 REVENUE EUR 774.3 MILLION VERSUS EUR 904.9 MILLION YEAR AGO.H1 ADJUSTED EBITDA EUR 46.6 MILLION VERSUS EUR 98.9 MILLION YEAR AGO.H1 NET LOSS EUR 96.4 ‍​ MILLION VERSUS LOSS OF EUR 202.1 MILLION YEAR AGO.BACKLOG FOR NEXT 12 MONTHS AT END OF H1 EUR 971.2 MILLION VERSUS EUR 1.07 BILLION YEAR AGO.FOR FY 2017 EBIT MARGIN IS EXPECTED TO IMPROVE SIGNIFICANTLY DURING H2 COMPARED TO H1, RESULTING IN A NEGATIVE LOW SINGLE DIGIT MARGIN (EXCLUDING EXCEPTIONAL ITEMS) FOR FY.MARINE SITE CHARACTERISATION ACTIVITIES PERFORMED BELOW LAST YEAR MAINLY DUE TO PRICING PRESSURE -CEO.FOR 2017 CASH FLOW FROM OPERATING ACTIVITIES AFTER INVESTMENTS IS ANTICIPATED TO BE POSITIVE EXCLUDING THE PURCHASE OF THE REM ETIVE VESSEL.ADDITIONAL MEASURES BEING IMPLEMENTED TO STREAMLINE BUSINESS PROCESSES AND FURTHER REDUCE COST, IN ORDER TO RESTORE PROFITABILITY.‍​.

Sinopec Oilfield Equipment to merge with petroleum machinery unit

Monday, 31 Jul 2017 01:53am EDT

July 28(Reuters) - Sinopec Oilfield Equipment Corp <000852.SZ>:Says it plans to merge with a Chengde-based wholly owned petroleum machinery unit.Says the unit will be dissolved after merger.

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