Oil and Gas Equipment and Services
(SII) Smith International Plans Acquisitions
Smith International Inc. (SII), a major oilfield services company, expects to spend approximately $350 million on acquisitions in this quarter, following the company’s last year’s $700 million-plus stock issue. In addition to acquisition initiatives, the company also intends...
8Feb2010 | vitalstocks | 0 comments | Continued(CAM) Cameron International Shows Near-term Outlook Positive
Oil drilling equipment maker Cameron International Corp. (CAM) is scheduled to report its fourth-quarter results on Tuesday, Feb 9, 2010, before the start of trading. The Zacks Consensus Estimate for Cameron’s fourth quarter is 53 cents per share, compared to the 75 cents...
5Feb2010 | vitalstocks | 0 comments | Continued(NOV) National-Oilwell Varco’s Profit Slips – Still Beats View
Oilfield service company National-Oilwell Varco (NOV) reported better-than-expected fourth quarter results, helped by robust performance from its Rig Technology segment. Earnings per share, excluding transaction and restructuring charges, came in at 96 cents, well above the Zacks...
4Feb2010 | vitalstocks | 0 comments | Continued(SII) Smith International Misses Estimates by a Penny
Smith International Inc. (SII) reported fourth quarter 2009 earnings of 9 cents per share, versus the Zacks Consensus Estimate of 10 cents and the year-earlier performance of $1.00. For the full year 2009, the company reported earnings of 81 cents, a penny below the Zacks Consensus...
27Jan2010 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies Wins Statoil Subsea Deal
Oil drilling equipment maker FMC Technologies Inc. (FTI) announced the receipt of a $40 million contract from Norway-based oil and gas company StatoilHydro ASA (STO). The deal calls for FMC Technologies to design and provide subsea production systems to Statoil-operated Snorre...
26Jan2010 | vitalstocks | 0 comments | Continued(BHI) Baker Hughes Tops Estimates – Earnings Sink Year-Over-Year
Baker Hughes Inc. (BHI), one of the largest oilfield service companies in the world, reported fourth-quarter 2009 earnings of 43 cents per share, compared to the Zacks Consensus Estimate of 34 cents and year-ago earnings of $1.49. The substantial fall in earnings year-over-year...
26Jan2010 | vitalstocks | 0 comments | Continued(WFT) Weatherford International’s Earnings Report Badly Misses Expectations
Weatherford International Ltd (WFT), a leading oilfield services company, reported a significantly weaker-than-expected fourth-quarter 2009 recurring earnings of 2 cents per diluted share, compared to the Zacks Consensus Estimate of 12 cents and year-ago earnings of 53 cents....
26Jan2010 | vitalstocks | 0 comments | Continued(HAL) Halliburton Company Barely Beats Earnings Expectations
Halliburton Company (HAL) — one of the largest oilfield service providers in the world — reported marginally better–than-anticipated fourth-quarter results, benefiting from increased activity in North America. Earnings per share from continuing operations, excluding...
25Jan2010 | vitalstocks | 0 comments | Continued(BHI) U.S. Drilling Rig Count Climbs Again
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting intensified drilling activity by the producers in response to higher commodity prices. Rig...
25Jan2010 | vitalstocks | 0 comments | Continued(SLB) Schlumberger Limited’s Profit Dips But Tops Expectations
Schlumberger Limited (SLB) has reported its fourth-quarter and full-year 2009 results. Diluted earnings per share from continuing operations were 67 cents, compared to the Zacks Consensus Estimate of 63 cents and the year-earlier earnings of $1.03. Diluted earnings from continuing...
23Jan2010 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies in Subsea Deal With Petroleo Brasileiro S.A.
Oil drilling equipment maker FMC Technologies Inc. (FTI) announced the receipt of an $80 million contract from Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. The deal calls for FMC Technologies to provide subsea service systems to Petrobras. The company...
21Jan2010 | vitalstocks | 0 comments | Continued(CLB) Core Labs N.V. Raises Dividend by 20%
Oilfield service provider Core Laboratories N.V. (CLB) announced a 20% hike in its quarterly dividend to 12 cents per share, up from 10 cents. On an annualized basis, the quarterly cash dividend would be equal to a payout of 48 cents per share of common stock. The revised dividend...
19Jan2010 | vitalstocks | 0 comments | Continued($BHI) Gas Rig Count Hits 10-Month High
According to data from Houston-based oilfield services company Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. rose for the week ended Jan. 15, 2010, reflecting intensified drilling activity by the producers in response to higher commodity prices. As...
18Jan2010 | vitalstocks | 0 comments | Continued(BHI) Weekly U.S. Drilling Rig Count Grows by 31
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting ramped-up drilling activity by producers in response to the recent optimism about...
11Jan2010 | vitalstocks | 0 comments | Continued(BHI) Stock Market News for January 07, 2010 – Market News
U.S. stocks ended the day little changed as a mixed bag of economic data and caution ahead of the government’s employment report on Friday kept traders on the sidelines. The FOMC minutes did not sound too convincing on the economy’s upturn, and traders pondered over the...
7Jan2010 | vitalstocks | 0 comments | Continued(SII) Smith International Gets Petrobras Contract
Smith International (SII) through one of its subsidiaries – PathFinder Energy Services – won a contract from Brazil’s oil giant Petrobras (PBR). The contract represents an estimated $80 million to $100 million of revenue over the 3-year term. PathFinder will also buy all...
6Jan2010 | vitalstocks | 0 comments | Continued(CAM) Cameron International Wins Chevron Subsea Deal
Oil drilling equipment maker Cameron International Corp. (CAM) announced the receipt of a $230 million contract from energy behemoth Chevron Corp. (CVX). The deal calls for Cameron to provide subsea production systems to Chevron-operated Jack & St. Malo fields in the deepwater...
6Jan2010 | vitalstocks | 0 comments | Continued(ACGY) Acergy S.A. Share Price Hits 52-Week High
American Depositary Receipts (ADRs) of Acergy S.A. (ACGY) hit a 52-week high of $15.87 Monday. The oilfield contractor has seen its share price climb 58% since September, as investors have been buying shares of the company for its attractive fundamentals and positive outlook....
29Dec2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Drilling Rig Rig Count Jumps by 32
According to data from Houston-based oilfield services company Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. rose for the week ended Dec. 18, reflecting intensified drilling activity by the producers amid recent optimism about an economic recovery...
21Dec2009 | vitalstocks | 0 comments | Continued(CRR) CARBO Ceramics – Great Sequential Growth and Earnings Momentum
CARBO Ceramics Inc (CRR) shares set a new 52-week high as analysts raise estimates for the company, which has great fundamentals. Company Description CARBO makes ceramic proppant, a material used in fracturing gas and oil wells. Additionally, the company offers spill prevention...
17Dec2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Oil Rig Count Grows by 20
In its weekly release on Friday, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported another rise in the number of rigs searching for oil and gas in the U.S., reflecting ramped-up drilling activity by the producers amid recent optimism about an economic recovery...
14Dec2009 | vitalstocks | 0 comments | Continued(LUFK) Lufkin Industries Incorporated – Earnings Came in Double the Consensus Forecast
Lufkin Industries Inc. (LUFK) is trading near its 52-week high, helped by higher energy prices and an optimistic outlook from management. Company Description Lufkin Industries Inc., and its subsidiaries manufacture and sell oil field pumping and power transmission products worldwide....
11Dec2009 | vitalstocks | 0 comments | Continued(NOV) National Oilwell Varco Makes Twin Purchases
Oilfield service firm National Oilwell Varco (NOV) announced the acquisition of two Asia-based private companies in cash transactions worth about $160 million in total. The purchases include South Korean manufacturing and fabrication outfit Hochang Machinery Industries Co. Ltd....
10Dec2009 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies Inc Initiated at Neutral
We are initiating coverage on FMC Technologies Inc. (FTI) with a Neutral recommendation and a target price of $55. Incorporated in 2000, Houston, Texas-based FMC Technologies is a leading manufacturer and supplier of technology solutions for the energy industry. The company,...
9Dec2009 | vitalstocks | 0 comments | Continued(DRQ) Dril-Quip Steady with Deepwater
We continue to believe that Dril-Quip Inc. (DRQ) remains in a sound position on the back of the company’s strong leverage to continued strength in the deepwater drilling markets. Given the operators’ long-term view of these projects, deepwater drilling and other related services...
8Dec2009 | vitalstocks | 0 comments | Continued($BHI) U.S. Oil and Natural Gas Rig Growth Continues
According to data from Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. rose for the week ended Dec. 4, reflecting ramped-up drilling activity by the producers amid recent optimism about an economic recovery and higher prices relative to last...
7Dec2009 | vitalstocks | 0 comments | Continued(ACGY) Acergy S.A. Sees Reduced Margins in 2010
London-based oilfield contractor Acergy S.A. (ACGY) re-affirmed its 2009 financial guidance, while expecting flat sales and lower margins next year. The company cautioned that tougher competition for new tenders and continued irregular timing of projects will lead to lower adjusted...
1Dec2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Drilling Rigs Increase for 6th Week
In its weekly release on Friday, Baker Hughes Inc. (BHI) reported another rise in the number of rigs searching for oil and gas in the U.S., reflecting ramped up activity by the producers in response to higher prices amid recent optimism about economic recovery. Rigs exploring...
30Nov2009 | vitalstocks | 0 comments | Continued(CAM) Cameron International Corp Completes NATCO Aquisition
Last week, oil drilling equipment maker Cameron International Corp. (CAM) closed the previously announced acquisition of Texas-based fellow oilfield service provider NATCO Group for approximately $780 million, following the approval by NATCO’s shareholders. In relation to the...
24Nov2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Oil and Gas Rig Count Hits 8-Month High
According to data from Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. rose for the week ended Nov. 20, reflecting ramped-up drilling activity by the producers amid recent optimism about economic recovery. As shown in the first chart below from...
23Nov2009 | vitalstocks | 0 comments | Continued