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Job Cuts Expected at NOV Amid Ongoing Oil & Gas Industry Slump

July 25, 2019

From The Houston Chronicle Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins. The drilling and oil well completion service company has started trimming its workforce by offering voluntary early retirement to eligible employees, the news

New VP of Investor Relations at Baker Hughes

July 24, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Jud Bailey named vice president of investor relations at Baker Hughes General Electric Baker Hughes (stock ticker: BHGE), an oilfield services company owned by General Electric (stock ticker: GE), has appointed Jud Bailey as its new vice president of investor relations, effective as of August 2019. Bailey will replace Philipp Mueller,

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Halliburton Cuts 8% of North American Jobs in Frack Slowdown

July 22, 2019

From Bloomberg Company executing new ‘playbook’ to deal with customer changes, shale producers are trimming spending amid investor pressure Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear. The world’s biggest provider of fracking equipment, including heavy duty rock-blasting pumps and

New CEO, Chairman at Schlumberger

July 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Schlumberger appoints Olivier Le Peuch as CEO, Mark G. Papa as non-executive chairman of the board Schlumberger Limited (stock ticker: SLB), the largest public oilfield services company in the world by both market capitalization and enterprise value, has elected Olivier Le Peuch as its chief executive officer, effective August 1, 2019.

Vanguard Emerges from Chapter 11 as Grizzly Energy

July 17, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new limited liability company under the name Grizzly Energy. According to the Houston Chronicle, this is the second time in two

E&P Diversifies Through Merger

July 9, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Acquisition of Lineal Star completed in an all-stock transaction Camber Energy (stock ticker: CEI), an independent E&P with a new focus on adding midstream, downstream and field service activities, closed its previously announced acquisition of Lineal Star Holdings on Monday through an all-stock transaction by entry into an agreement and plan

First Cargo Delivered at Corpus Christi LNG Facility - Oil & Gas 360

First Cargo Delivered from Corpus Christi LNG Facility

July 5, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Bechtel and Cheniere deliver seventh LNG train since 2015 Cheniere Energy’s Corpus Christi Liquefication export terminal, built by construction and project management company Bechtel, has delivered its first commissioning cargo from Train 2 of the facility, located on the La Quinta Channel on the northeast side of Corpus Christi Bay in

Weatherford Files for Bankruptcy Protection

July 1, 2019

From The Houston Chronicle Weatherford International filed for Chapter 11 bankruptcy protection Monday The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking on too much debt and fighting to recover from falling oil prices in 2014 that hammered the energy industry. Weatherford,

Houston Gets Ready for Autonomy

June 20, 2019

From SAFE Domino’s will start delivering pizzas via an autonomous robot this fall Domino’s and self-driving car startup Nuro announced a partnership Monday under which Nuro’s electric R2X AV will begin delivering Domino’s pizzas this fall in Houston. Operations will begin at one Domino’s location, delivering to customers who order online. Nuro has been operating in Houston since March, working

Converge Midstream Beats Exxon, Magellan

June 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Riverstone Credit-backed company adds 6.5 million barrels of crude storage capacity Converge Midstream LLC, a crude oil storage and transportation company backed by Riverstone Credit Partners, has completed the acquisition of assets being sold off by Fairway Energy Partners, LLC as part of its chapter 11 restructuring. Fairway, after filing a

Houston Refinery Slowdown May Continue for A Week

March 29, 2019

From Reuters Lyondell Basell Industries may keep production cut at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of constrained logistics, Gulf Coast market sources said on Friday. Royal Shell Plc plans to increase production on April 3 at its 275,000 bpd joint-venture Deer Park, Texas, refinery, which was cut because of a shipping shutdown, the sources said.

Houston Channel Importance Swelled as Oil, Gas Exports Rose

March 27, 2019

From Bloomberg On a normal day, 42 tankers, 19 freighters, 391 barges, 128 ferries and 2 cruise ships will move through the Houston Ship Channel. On any given day, one of those tankers may be as long as 1,500 feet. The last week, though, has been anything but normal. The second busiest U.S. port by tonnage was closed for three

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