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Serving the oilfield service sector with news, analysis and business opportunities.

PLS publishes news and analysis on the oilfield service sector through its OFS module. The gold banner report, published every 3 to 4 weeks, covers the active sector with news and analysis on drilling, completions, field operations and technology.

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News Date
Nabors boosts Canrig subsidiary by acquiring Tesco
Nabors Industries, the world’s largest land driller, will expand its rig equipment and drilling solutions businesses by acquiring Tesco Corp. for $216 million in stock. The Bermuda-based company will...
Sep 01, 2017
Halliburton teams up with Microsoft to innovate oilfield
Halliburton entered into a strategic alliance with one of the world’s biggest companies as Big Red responded to rising demand for high-tech options in the oilfield by making Microsoft its cloud...
Sep 01, 2017
Transocean paying $3.4B for Songa’s 7 rigs, $4.1B backlog
Transocean plans to acquire Songa Offshore in a $3.4 billion deal that continues its transformation into a company almost exclusively focused on ultra-deepwater and harsh environment projects. The...
Sep 01, 2017
Smart Sand: Drop in sales not proof of declining demand
Smart Sand sold 5% less frac sand in Q2 than it did in Q1, declining to 531,000 tons. The announcement comes as analysts were warning of a pullback in frac sand usage, although the company, based in...
Sep 01, 2017
WaterBridge adds Delaware system in EnWater purchase
WaterBridge Resources acquired EnWater Solutions, a produced water gathering and disposal company in the southern Delaware Basin, for an undisclosed amount. Located in Reeves and Pecos counties, TX,...
Sep 01, 2017
US Silica buys MO company, idled TX plant for $95MM
US Silica Holdings acquired Mississippi Sand, a frac sand mining and logistics company with a 1.2 mtpa plant in Missouri, for $95.4 million. While the focus of the US Silica’s announcement was on the...
Sep 01, 2017
Difference of opinion, $3.3B separate two acquisitions
The price tag wasn’t the only stark difference between Nabors Industries’ $140 million acquisition of Tesco (PG 1) and Transocean’s $3.4 billion purchase of Songa Offshore (PG 1). While the former...
Sep 01, 2017
Russian official: US could block SLB’s Eurasia bid
Schlumberger’s attempt to buy 51% of Moscow-based Eurasia Drilling Company faces “big problems” in the current political environment, the head of Russia's competition watchdog said. However, the big...
Sep 01, 2017
Rowan-Aramco JV ready to begin operations
Rowan Companies expects its JV with Saudi Aramco to begin operations this quarter. The Houston company has dedicated five jackups to ARO Drilling, which connects Rowan to the world’s largest user of...
Sep 01, 2017
Solaris looks ahead from record Q2 with new OK facility
Solaris Oilfield Infrastructure will break ground this month on a highcapacity transload facility in Oklahoma supported by a seven-year contract with a leading STACK E&P. The $40 million facility in...
Sep 01, 2017

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