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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
What the Analysts are Saying About 'Oilfield Services' - July 31, 2018
Dril-Quip Inc. (NYSE: DRQ; July 27–$56.26; Buy)Likely a little air let out of the tires today post DRQ's strong stock run dating back to April 2018 given the company's soft (vs. expectations)...
Jul 31, 2018
Earnings reports show a spring full of green shoots
The Q2 earnings season is basically halfway through with most of the largest players in the sector announcing their results. The results showed an expanding sector with widespread growth and an...
Jul 31, 2018
SAExploration completes purchase of bankrupt competitor
SAExploration completed the acquisition of substantially all the assets of bankrupt Geokinetics Inc., including equipment and machinery, seismic processing software and equipment and...
Jul 31, 2018
Baker Hughes sells Natural Gas Solutions for $375MM
Baker Hughes, a GE company agreed to sell its Natural Gas Solutions business to private equity firm First Reserve and gas equipment manufacturer Pietro Fiorentini for a combined $375 million. Part of...
Jul 31, 2018
Control of Exterran equipment carve-out sold to PE firm
Private equity firm Branford Castle Partners made a controlling investment in Titan Production Equipment, a carve-out of the North American oil and gas production equipment assets of Houston-based...
Jul 31, 2018
Independence and Sidewinder agree to $199MM merger
Independence Contract Drilling and Sidewinder Drilling agreed to merge in a $199.2 million deal that will give Sidewinder about 49% of total outstanding shares. ICD will issue about 36.8 million...
Jul 31, 2018
Vertex includes Three Star in its shopping spree
Vertex Resource Group completed its third acquisition in less than two months, closing Three Star Trucking for C$12.8 million (US$9.7 million). Three Star is an environmental service company...
Jul 31, 2018
Weatherford sells part of its land rigs for $288MM
Weatherford International agreed to sell its land drilling rig operations in Algeria, Kuwait and Saudi Arabia as well as two idle land rigs in IRAQ to Egypt-based ADES International Holding Ltd. for...
Jul 31, 2018
Ocean Rig lines up more work for drillship Poseidon
Ocean Rig UDW announced a wave of rig employments, three off Africa and one in Norway. Because of the contracts, when the deepwater drillship Ocean Rig Poseidon comes off a contract...
Jul 31, 2018
Saipem hired for $800MM in work over 5 countries
Milan-based Saipem received a batch of onshore E&C contracts worth a total of roughly $800 million. The contracts deal with work in Saudi Arabia, Serbia, Mexico, IRAQ and Nigeria.Saudi Aramco...
Jul 31, 2018

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