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Tag Archives: Ensco

No 2 offshore oil driller Seadrill sees industry pain through 2016

OSLO – Seadrill, the world’s second biggest offshore oil driller, predicted years of pain for the global rig market on Thursday as energy companies continue to pare spending despite a recent lift in oil prices. The company, part of shipping tycoon John Fredriksen’s business empire, said charter rates are down, most contract talks are about renegotiating existing deals and the ...

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UPDATE: Are Halliburton and Baker Hughes playing monopoly?

In an effort to minimize the impact of declining oil prices, the world’s second largest oilfield services company Halliburton is in preliminary talks with Baker Hughes Inc. discussing a possible merger. Yesterday, Baker Hughes released a statement saying the company is in “preliminary discussions” with Halliburton regarding a “potential business combination.” However, the statement also specified that “these discussions may ...

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