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Stock Market & Financial Investment News

News Breaks
July 11, 2014
06:10 EDTBHIBaker Hughes reports Q2 U.S. onshore well count up 428 from Q1 to 9,394
Baker Hughes announced that the U.S. onshore well count for Q2 was 9,394 wells, up 428 wells or 5% compared to Q1. Compared to 2Q13, the well count was up 383 wells or 4%. Compared to Q1, the well count increased most notably in the Permian basin, up 265 wells or 11%, Marcellus, up 78 wells or 16%, and Granite Wash, up 31 wells or 23%, basins. This increase was slightly offset by decreases predominantly in the Barnett, down 57 wells or 18%, and Cana Woodford, down 23 wells or 26%. The average US onshore rig count for Q2 1,796 rigs, up 72 rigs or 4% from the Q1 and up 87 rigs or 5% from 2Q13. On average, the US onshore rig fleet produced 5.23 new wells during the quarter, which represents a slight improvement in drilling efficiencies compared to the same quarter in 2013.
News For BHI From The Last 14 Days
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April 24, 2015
13:03 EDTBHIBaker Hughes reports U.S. rig count down 22 to 932 rigs
Baker Hughes reports that the U.S. Rig Count is down 22 rigs from last week to 932, with oil rigs down 31 to 703, gas rigs up 8 to 225, and miscellaneous rigs up 1 to 4. Says the U.S. Rig Count is down 929 rigs from last year at 1861, with oil rigs down 831, gas rigs down 98, and miscellaneous rigs unchanged at 4. The U.S. Offshore rig count is 34, up 1 from last week, and down 20 rigs year over year. The Canadian Rig Count is down 1 rig from last week to 79, with oil rigs down 4 to 16, and gas rigs up 3 to 63. The Canadian Rig Count is down 89 rigs from last year at 168, with oil rigs down 53, and gas rigs down 36.
April 22, 2015
07:52 EDTBHIBaker Hughes price target raised to $78 from $72 at Susquehanna
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April 21, 2015
09:23 EDTBHIHalliburton added to Conviction List, Baker Hughes removed at Iberia
Iberia prefers equity exposure of Halliburton (HAL) versus the merger arbitrage of owning Baker Hughes (BHI). The firm expects the merged company to better compete for integrated project management work and shore up weaker products and services.
08:08 EDTBHIBaker Hughes 'pleased with the progress' on planned combination with Halliburton
08:07 EDTBHIBaker Hughes expects unfavorable market conditions to persist in Q2
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08:07 EDTBHIBaker Hughes: Q1 results a reflection of extreme market forces faced by industry
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08:06 EDTBHIBaker Hughes reports Q1 adjusted EPS (7c), consensus 46c
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07:45 EDTBHIHalliburton well positioned for industry upturn, says UBS
UBS said the oil services downturn is playing out as expected and that Halliburton (HAL) is well positioned for the eventual upturn. The firm cited the company's ability to maintain margins, synergies from its merger with Baker Hughes (BHI), and the potential for major share repurchases. UBS reiterated its Buy rating and raised its price target to $60 from $50 on Halliburton shares.
April 20, 2015
15:37 EDTBHINotable companies reporting before tomorrow's open
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10:00 EDTBHIOn The Fly: Analyst Downgrade Summary
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09:28 EDTBHIHalliburton on track to complete Baker Hughes transaction late in 2H15
Continues to target annual cost synergies of $2B.
09:18 EDTBHIHalliburton says Q1 challenging quarter, with downturn being historically high
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07:21 EDTBHI, BHIBaker Hughes downgraded to Underperform from Outperform at CLSA
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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