July 25 (Reuters) – Halliburton Co has agreed to
plead guilty to destroying evidence related to the 2010 Gulf of
Mexico oil spill, the U.S. Department of Justice said on
The government said Halliburton’s guilty plea is the third
by a company over the spill and requires the world’s
second-largest oilfield services company to pay a maximum
$200,000 statutory fine.
July 25 (Reuters) – Halliburton Co, the largest
provider of pressure pumping services used in hydraulic
fracturing, said on Thursday it had also been contacted by the
U.S. government regarding potential antitrust issues in the
pressure pumping market.
Halliburton said it had received an information request from
the Department of Justice. In a quarterly filing on Wednesday,
rival Baker Hughes Inc disclosed the receipt of a civil
investigative demand from the DOJ on May 30.
(Reuters) – A combination of oil and gas innovations and well-site cost cuts is rendering the long-vaunted U.S. rig count a less important oilfield indicator than the number of holes in the ground.
So in keeping with the times, oilfield services company Baker Hughes Inc (BHI.N: Quote, Profile, Research, Stock Buzz) is complementing the rig count it has tallied for more than 70 years with a new metric: U.S. well counts.
(Reuters) – Halliburton Co (HAL.N: Quote, Profile, Research) on Monday delivered a higher-than-expected quarterly profit as it found greater success outside its natural gas-engorged home market in the United States.
The world’s second-largest oilfield services company also said it boosted its share repurchase program by $4.3 billion (2.7 billion pounds) after buying $1 billion worth of its shares in the second quarter and leaving only $700 million authorized from an existing program set up in 2006.
(Reuters) – Halliburton Co (HAL.N: Quote, Profile, Research, Stock Buzz), the world’s second-largest oilfield services company, posted higher-than-expected quarterly profit as it made more headway outside its home U.S. market, which has been turned upside down by a natural gas glut.
The company also said on Monday it will boost its share repurchase program by $4.3 billion after buying $1 billion worth of its own shares in the second quarter, and leaving only $700 million authorized from its existing program set up in 2006.
(Reuters) – A three-decade high for drilling activity outside North America lifted Schlumberger Ltd (SLB.N: Quote, Profile, Research, Stock Buzz) to its seventh straight estimate-topping quarterly profit, while U.S.-focused Baker Hughes Inc (BHI.N: Quote, Profile, Research, Stock Buzz) came up short in a tough quarter at home.
Shares of global oil services sector leader Schlumberger rose 4 percent to $81.69 in trading before the New York Stock Exchange opened on Friday, while Baker Hughes slipped 2 percent to $48.
(Reuters) – Noble Corp (NE.N: Quote, Profile, Research), owner of the world’s third-largest offshore drilling rig fleet, plans to change its country of incorporation for the second time in less than five years, moving this time to the UK, which the company cited for its “well established tax regime.”
Noble said on Monday a shareholder meeting to approve the move out of Switzerland would occur by the end of the year. Chief Executive David Williams praised the UK’s position as an international business and travel centre as well as its tax regime.
(Reuters) – Engineering companies like Chicago Bridge & Iron (CBI.N: Quote, Profile, Research, Stock Buzz) and their shareholders are salivating at the prospect of more U.S. natural gas exports as regulators begin to sign off on the plants needed to move gas abroad.
Last month’s approval of Freeport LNG Development’s liquified natural gas (LNG) project in Texas indicates more will come, and analysts expect maybe five or six will be built.
, June 18 (Reuters) – California state
legislators on Tuesday told regulators and oil industry
lobbyists they wanted more information about the use of acid to
increase flows in wells in a technique that is used more often
in the state than the controversial fracking method.
California’s century-old oil sector has come in for greater
scrutiny as companies make early attempts to tap the Monterey
shale, a deep formation that holds an estimated 15 billion
barrels of oil – twice that of North Dakota’s widely publicized
/BAKERSFIELD, California (Reuters) – As California sets the ground rules for drilling in the Monterey oil formation, a hard-to-reach shale reserve that is the largest in the United States, some environmentalists worry that politicians, regulators and fellow activists are fighting the wrong battle.
The state regulator is hammering out rules for hydraulic fracturing, while the legislature is debating 10 bills on the practice. The drilling technique known as “fracking” has caused so much concern about environmental problems that it is the subject of a Hollywood movie. But most Monterey drillers employ another technique using acid, and only one bill under consideration would regulate that method.