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Tag Archives: Baker Hughes

Top 5 Stories of the Week

Here were the top five stories for the week of July 25-31. Thank you for reading and have a great weekend. 5. Drilling picks up in Basin Six months ago, 24-year-old Matt Soto stared at a white board and worried how long he would keep his job at Schlumberger. Soto escaped layoffs in the past six months and said things ...

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Drilling picks up in Basin

pumpjack

Six months ago, 24-year-old Matt Soto stared at a white board and worried how long he would keep his job at Schlumberger. Soto escaped layoffs in the past six months and said things now look good from the ground floor. But industry indicators have taken a turn for the worse, bringing up renewed questions about an expected recovery. The overtime ...

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Low prices threaten to curb rising rig count

Permian Basin producers added another three rigs in the week ending Friday, according to the widely-watched Baker Hughes rig count. But observers met the ongoing uptick in drilling activity with concern that it might be short-lived, after another dip in oil prices in July threatened to erase the gains of the previous months. The latest build in Permian rigs left ...

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DOJ review of Halliburton and Baker Hughes deal extended

The mega-merger between the world’s second and third largest oil field service companies will grant U.S. antitrust regulators additional time to review the deal. The two companies, Halliburton and Baker Hughes, have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ). The review process of the merger, valued at $34.6 billion, will be ...

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Far from over: 11,000 jobs on the chopping block

Even with the promising signs that the oil slump is subsiding, oil and gas workers in Oklahoma may suffer another wave of job cuts by the year’s end. A News on 6 report on Wednesday stated that 11,000 Oklahomans working in the oil and gas industry could lose their jobs by the end of 2015. The economic research company Region ...

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