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Tag Archives: Weatherford International

End of the line

Odessa, Texas

The oil boom brought a surge of building along the railroad passing through the heart of Odessa, harkening back to its history as a rail town. They were some of the biggest-dollar developments — and injections into the local tax base — including multi-million dollar investments that included a Weatherford International campus, giant storage tanks for frack sand and a ...

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A couple’s boom, busted

Work on the drilling rigs began to slow in November for Claire Cutshaw. By the end of January, she basically waited by the phone. Money ran dry. The end of the month grew closer. And so on Monday, the 45-year-old mudlogger resigned from Weatherford International and started to pack. At first, she did not make much of the slowdown. Other ...

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President of Sinopec’s oil services unit dismissed amid investigation

BEIJING, Dec 3 – The president of Sinopec Group’s oilfield services unit has been dismissed and is currently under investigation, state media reported on Wednesday. Xue Wandong, the president of Sinopec Oilfield Services Corp (SOSC), was relieved of his duties by the company’s party apparatus, Xinhua said on its Weibo social media account. He is being investigated for reasons that ...

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Oil price drop, merger talks feed energy sector deal speculation

smokey pump jack

NEW YORK, Nov 14 – Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. Competing service companies including National Oilwell Varco Inc and Weatherford International may also be targets, bankers and lawyers said. ...

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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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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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Weatherford starts $24 million build-out in Permian Basin

COREY PAUL | Odessa American, TX Weatherford International recently began a $24 million construction project beside its facility on Interstate 20, intended to help the oilfield services company accommodate growth as Permian Basin activity surges, according to Gerald Bushong, the area manager for Weatherford. The existing office in the 2800 block of the Interstate 20 service road focuses on hydraulic ...

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