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Tag Archives: Nabors Industries

Contract driller Nabors expects current-quarter results to fall

Contract oil and gas driller Nabors Industries Ltd forecast a decrease in third-quarter results, saying it expected current depressed market conditions to prevail for an extended period. The company on Tuesday posted a second-quarter loss, compared with a profit a year earlier, hurt by lower drilling activity in North America due to weak oil prices. Oil producers have cut rig ...

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ADP reports 212,000 new U.S. jobs in February

Payroll processor ADP reported 212,000 new U.S. nonfarm private sector jobs in February. While small, midsized and large businesses all reported growth, indicating strong hiring should boost the economy this coming year, small businesses led the pack. February was the 13th straight month in which U.S. businesses added more than 200,000 new jobs, although the 212,000 figure was down slightly ...

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Nabors hoping third time’s a charm as merger’s valuation continues to fall

There are new developments in the pending $2 billion merger of Houston-based C&J Energy Services Inc. and Nabors Industries Ltd. According to the Houston Business Journal, C&J Energy announced that the cash portion of its merger with Nabors’ production and completion businesses will drop from $938 million to $688 million and that the debt incurred to fund the cash consideration ...

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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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Nabors Industries slides after Pamplona fund sells stake

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Caroline Valetkevitch | Reuters NEW YORK – Nabors Industries was the biggest percentage decliner on the S&P 500 Thursday after Pamplona Capital Management LLP said its private equity fund had sold a stake of about 8.5 percent in the oilfield services provider. Pamplona Capital is Nabors’ largest shareholder, according to Thomson Reuters data. Nabors Industries shares were down 2.7 percent ...

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Company buys Nabors fracking unit

Corey Paul | Odessa American A Houston-based oilfield services company is absorbing the completion and production arm of Nabors Industries in a $2.86 billion cash and stock deal expected to create another giant hydraulic fracturing provider at a time when demand soars for such services in places like the Permian Basin. The Houston-based company, C&J Energy Services, already operates in the ...

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C&J Energy merges with Nabors Industries unit in $2.86 billion deal

John Deede | Shale Plays Media Google+ C&J Energy Services has announced that it will merge with Nabors Industries in a bid to expand their reach into more oil and gas producing areas. Tess Stynes from the Wall Street Journal reports: The deal will combine C&J Energy Services with Nabors’s completion-and-production businesses in the U.S. and Canada, which help companies get their ...

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