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UPDATE 1-U.S. oil drillers add rigs despite crude price collapse-Baker Hughes

2015-07-25 10:33:49| Oil & Gas - Topix.net

U.S. oil producers added 21 oil rigs in the past week, the most in over a year, data showed on Friday, suggesting that drillers were moving more aggressively than expected, just before crude prices' latest dive down. Oil producers, who cut rigs in the face of falling prices late last year, began to add rigs back in the week ending July 2, oil services company Baker Hughes Inc said in its closely followed report.

Tags: add price update oil

 

Argentine court orders seizure of Falklands/Malvinas 'illegal' oil drillers' assets

2015-06-28 08:37:20| Oil & Gas - Topix.net

Argentina has ordered the seizure of assets belonging to foreign drilling companies operating in the vicinity of Falklands / Malvinas Islands, saying they have failed to obtain the necessary permissions from Buenos Aires to conduct exploration. A federal judge in Tierra del Fuego, Lilian Herraez, has ordered authorities to seize the assets of five companies drilling for oil in the Falklands worth $156 mn.

Tags: orders court oil assets

 
 

U.S. oil drillers pull 7 rigs, biggest drop since late May - Baker Hughes

2015-06-13 05:53:41| Oil & Gas - Topix.net

The market has been waiting for the slowdown in the rig count to stop as crude prices have rebounded over the past few months, but this week's slowdown showed oil drillers were not yet done cutting the number of rigs. Energy firms pulled another seven rigs from U.S. oil fields this week, the most since late May, oil services company Baker Hughes Inc said on Friday in its closely followed report.

Tags: late oil drop biggest

 

Oilwell drillers Trinidad and CanElson to merge in $505 million deal

2015-06-11 20:03:49| Logistics - Topix.net

Oilfield services companies Trinidad Drilling Ltd. and CanElson Drilling Inc. have agreed to merge in a deal worth $505 million. The merger is intended to save costs and create a more geographically diverse base of operations, according to the companies, as the industry faces major spending cutbacks.

Tags: million deal trinidad merge

 

Oilwell drillers Trinidad and CanElson to merge in $505 million deal

2015-06-11 19:42:59| IT Services - Topix.net

Oilfield services companies Trinidad Drilling Ltd. and CanElson Drilling Inc. have agreed to merge in a deal worth $505 million. The merger is intended to save costs and create a more geographically diverse base of operations, according to the companies, as the industry faces major spending cutbacks.

Tags: million deal trinidad merge

 

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