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Oilfield rumors
Posted on 4/17/14 at 9:10 am
Posted on 4/17/14 at 9:10 am
For those that work in and around the oil patch, lets here some info on possible buyouts, mergers, news, etc, concerning service companies and operators.
That being said, both GE and NOV want a drilling service company. I've heard that GE wants to buy baker and NOV wants to buy Weatherford or Sperry. I don't see Halliburton letting go of Sperry, but this is all oilfield chatter and nothing factual.
On a side not EXXI will be merging with EPL. At the current stock price, its a steal.
That being said, both GE and NOV want a drilling service company. I've heard that GE wants to buy baker and NOV wants to buy Weatherford or Sperry. I don't see Halliburton letting go of Sperry, but this is all oilfield chatter and nothing factual.
On a side not EXXI will be merging with EPL. At the current stock price, its a steal.
12
Posted on 4/17/14 at 9:15 am to lsuguru
I was a little shocked when NOV purchased Wilson, so I could definately see them adding a service company to the lineup.
Same goes for Forum with their recent purchase of Merrimac and a few others.
Same goes for Forum with their recent purchase of Merrimac and a few others.
Posted on 4/17/14 at 9:15 am to lsuguru
can GE afford Baker.. I think not. is that for real with EXXI and EPL?
Posted on 4/17/14 at 9:17 am to lsuguru
Exxon is moving to the northside of houston to make it more enticing to Anadarko. Buy it within the next year.
Posted on 4/17/14 at 9:18 am to b-rab2
quote:
is that for real with EXXI and EPL?
quote:
Oilfield rumors
I've heard all kinds of stuff lately. Shell is going to buy out Whiting. Pioneer is looking to get bought out by a major for their acreage in the PB. Leam is going to get bought out by Halliburton and merged with Sperry. I'm sure it is all bullshite because it usually is.
Posted on 4/17/14 at 9:20 am to b-rab2
quote:
can GE afford Baker.. I think not
GE is one of the biggest companies in the world, they can buy whatever they want. And yes the EXXI/EPL merger is gonna happen
Posted on 4/17/14 at 9:44 am to lsuguru
Not a rumor anymore but oxy is splitting off its Cali assets and forming a new corporation.
Posted on 4/17/14 at 9:46 am to lsuguru
WHat would you expect exxi stock price to go up to after the merger? Seems like there's already news about it
Posted on 4/17/14 at 10:10 am to TheIndulger
quote:
WHat would you expect exxi stock price to go up to after the merger? Seems like there's already news about it
There has been news about it for a while now. It was announced just a few days after EXXI CEO was on Mad Money filmed on location on an Ensco Rig. If you bought EPL prior (like me) then you saw some nice profits after the announcement was made. EXXI definitely has room to run.
As for oilfield scoop, all of this consolidation is hurting our business. Just off the top of my head, I can count 12 companies that have become 2 with the recent mergers involving Fieldwood and EXXI. The brother in law networks are good for some and bad for most. This is obviously only affecting the shelf work as the majors have their own set of rules.
This post was edited on 4/17/14 at 4:28 pm
Posted on 4/17/14 at 10:21 am to Douboy
Question.. is there not much action happening from High Island going west. what are the fields like over around Houston area? or are there anymore?
Posted on 4/17/14 at 11:10 am to lsuguru
quote:
I've heard that GE wants to buy baker
Not happening.
quote:
NOV wants to buy Weatherford
Not happening.
Posted on 4/17/14 at 11:20 am to barry
NOV wants to buy all of weatherford? 
Or just the drilling services
Or just the drilling services
Posted on 4/17/14 at 1:12 pm to Polar Pop
quote:
was a little shocked when NOV purchased Wilson
They are already in the process of spinning them off.
I own some Franks International stock, any chance Schlumberger, NOV, or Halliburton comes calling?
I also recently some GULTU which is tied to royalties being paid from all of McMorans ultra deep plays. Any new news about Davy Jones 2? Any idea when they will start production?
Posted on 4/17/14 at 1:17 pm to TJG210
quote:
I own some Franks International stock, any chance Schlumberger, NOV, or Halliburton comes calling?
I don't think the family has any plans to sell the company, I'd be shocked.
Posted on 4/17/14 at 1:21 pm to TJG210
quote:
They are already in the process of spinning them off.
Interesting, please elaborate.
Posted on 4/17/14 at 1:30 pm to TJG210
quote:
Any new news about Davy Jones 2
DJ2 is suppose to flow test around the beginning of June.
Posted on 4/17/14 at 1:35 pm to Polar Pop
quote:
Interesting, please elaborate.
This is all I could find in a quick search, but read somewhere the day that this is supposed to happen as soon as this quarter. Also heard a rumor Pete Miller may be the CEO of the spin off.
quote:
National Oilwell Varco, Inc. (NYSE: NOV) announced that its Board of Directors has authorized Company management to move forward with exploration of a plan to spin-off NOV's distribution business from the remainder of the Company, creating two stand-alone, publicly traded corporations. The Company believes that the separation of the distribution business can be accomplished via a tax-efficient spin-off to NOV shareholders.
LINK
I don't think this should come as a total shock as the distribution business has very low margins compared to NOV's other business units.
This release was on Scottrade:
quote:
NOV also announced that NOW Inc. has filed its amended Form 10 with the Securities and Exchange Commission. Copies of the document are available on the NOV website. The company anticipates the spin will be completed in the second quarter of 2014.
This post was edited on 4/17/14 at 1:39 pm
Posted on 4/17/14 at 1:43 pm to Polar Pop
quote:
Same goes for Forum with their recent purchase of Merrimac and a few others.
They've been buying quite a lot of companies in the last couple of years.
Posted on 4/17/14 at 4:27 pm to b-rab2
quote:
Question.. is there not much action happening from High Island going west. what are the fields like over around Houston area? or are there anymore?
We service the shelf and from what I can tell, there is mostly P&A work out that way. Obviously there is production going on, but as far as new developments, there isn't much happening (in my experience).
Posted on 4/17/14 at 5:43 pm to lsuguru
quote:
For those that work in and around the oil patch, lets here some info on possible buyouts, mergers, news, etc, concerning service companies and operators.
That being said, both GE and NOV want a drilling service company. I've heard that GE wants to buy baker and NOV wants to buy Weatherford or Sperry. I don't see Halliburton letting go of Sperry, but this is all oilfield chatter and nothing factual.
Oilfield service companies by market cap:
1) Schlumberger - $130B
2) Halliburton - $51B
3) National Oilwell Varco - $35B
4) Baker and Hughes - $30B
5) Weatherford - $13.7B
So GE (market cap $267B) buying BHI and NOV buying WFT will result in some major consolidation in the oilfield services industry. Wonder how that will affect the business landscape.
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