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Stock Market & Financial Investment News

News Breaks
March 19, 2013
09:36 EDTBHIBaker Hughes CEO sees $17B opportunity from ultra-deepwater wells
Baker Hughes' CEO Martin Craighead said the company has identified 10 customers that intend to collectively drill almost 300 ultra-deepwater wells over the next eight to ten years, which represents a $17B opportunity. The CEO added certain ultra-deepwater projects require up to a half a million pounds of proppant and "there are only two vessels in the world that can handle two and a half million pounds of proppant, and they belong to Baker Hughes." Craighead also said the company sees the potential for its synthetic gels to replace guar in drilling.
News For BHI From The Last 14 Days
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April 17, 2015
13:09 EDTBHIBaker Hughes reports U.S. rig count down 34 to 954
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08:29 EDTBHIU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
06:33 EDTBHISources: Halliburton hires BofA, Deutsche Bank to sell assets, Reuters reports
According to sources, Reuters reports that Bank of America (BAC) and Deutsche Bank (DB) have been hired by Halliburton (HAL) to sell two assets that could be valued at up to $5B. Bank of America will work to sell some of Halliburton's Sperry Drilling business, including logging-while-drigging, directional drilling and measuring-while-drilling, while Deutsche Bank is mandated to sell Halliburton's drill bits businesses. Halliburton is seeking to divest some assets to ease regulators' antitrust concerns in its $35B merger deal with Baker Hughes (BHI). Reference Link
April 16, 2015
13:21 EDTBHIBaker Hughes volatility low into Q1 and outlook
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April 15, 2015
06:16 EDTBHIOil layoffs reach 100,000 and still going, WSJ reports
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April 14, 2015
09:20 EDTBHIMorgan Stanley calls a bottom in Oil Services sector
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April 10, 2015
13:03 EDTBHIBaker Hughes reports U.S. rig count down 40 to 988
Baker Hughes reports that the U.S. Rig Count is down 40 rigs from last week to 988, with oil rigs down 42 to 760, gas rigs up 3 to 225, and miscellaneous rigs down 1 to 3. Says the U.S. Rig Count is down 843 rigs from last year at 1831, with oil rigs down 757, gas rigs down 85, and miscellaneous rigs down 1. The U.S. Offshore rig count is 33, up 2 rigs from last week, and down 20 rigs year over year. Says the Canadian Rig Count is down 1 rig from last week to 99, with oil rigs unchanged at 20, and gas rigs down 1 to 79. The Canadian Rig Count is down 113 rigs from last year at 212, with oil rigs down 73, and gas rigs down 40.
April 9, 2015
17:02 EDTBHIBaker Hughes announces suspension of well count, effective immediately
Baker Hughes announced that effective immediately it has suspended the quarterly publication of the U.S. onshore well count. In response to the recent market downturn and internal initiatives to reduce costs, the company has prioritized its resources to support the ongoing publication of the weekly North America and monthly International rig counts, which continue to provide a timely and relevant snapshot of evolving market conditions.
April 8, 2015
08:12 EDTBHIBaker Hughes initiated with an Overweight at Stephens
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06:03 EDTBHIBaker Hughes reports March international rig count down 24 to 1,252
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April 7, 2015
16:19 EDTBHIHalliburton to separately market certain businesses for sale
Halliburton (HAL) announced it will separately market for sale the companyís Fixed Cutter and Roller Cone Drill Bits, Directional Drilling and Logging-While-Drilling, or LWD,/Measurement-While-Drilling, or MWD, businesses. The final sale of these businesses will not be completed until the company has reached acceptable terms and conditions negotiated by Halliburton, the approval of Halliburtonís board and final approvals of the Baker Hughes (BHI) acquisition by competition authorities. Halliburton will operate as one company, including the businesses held for sale, until the sale of the identified businesses is complete. Halliburton expects to complete the sale of the businesses in the same timeframe as the closing of the pending Baker Hughes acquisition late in the second half of 2015.

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