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February 7, 2013
14:55 EDTGE, ESVEnsco says rigs have not had any operational problems related to GE bolts
Ensco (ESV) reported that GE Oil & Gas (GE) recently communicated that certain batches of bolts used in offshore drilling should be inspected for possible replacement. GE Oil & Gas issued notices regarding these bolts after a competitor’s rig experienced operational problems in connection with the bolts. Ensco’s rigs have not experienced any operational problems related to the bolts, used in H4 connectors, which connect a lower marine riser package to a wellhead, the company said. Immediately upon receipt of the notice from GE Oil & Gas, Ensco began an evaluation of its fleet to determine which rigs have H4 connectors with bolts identified in the notice. Ensco’s jackup fleet and seven ENSCO 8500 Series floater rigs are not affected by the GE Oil & Gas notices. For certain other floaters in the company’s fleet, the relevant bolts have already been replaced. On the remaining floaters, the relevant bolts are scheduled for evaluation, and, where appropriate, will be replaced. The company said it will provide an update on this issue in its regularly scheduled monthly fleet status report to be issued in mid-February.
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September 29, 2015
10:49 EDTGEGE Aviation, Qantas Group sign strategic flight efficiency services agreement
The Qantas Group and GE Aviation have signed a comprehensive agreement for GE's Flight Efficiency Services, which will help Qantas and Jetstar increase operational flexibility and fuel efficiency and reduce carbon emissions by drawing on GE's industry-leading navigation services, data and analytics expertise. The agreement includes flight efficiency and Flight Operations Quality Assurance analytics, as well as renewal of a long-standing relationship for the supply of Required Navigation Performance procedures across many airports in the Qantas network. Qantas and GE will collaborate on specific initiatives to support the transformation strategy such as flight crew awareness, procedure compliance, operational insights and airspace utilization improvements. GE's support will include access to its full suite of analytical tools as well as process improvement, six sigma, change management and other domain expertise.
September 28, 2015
18:02 EDTGEGE-Aviation awarded $137.88M government contract modification
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13:33 EDTGEGE announces 18th and 19th HA Gas Turbine orders
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11:31 EDTESVDeutsche Bank sees bottom nearing for offshore drillers, upgrades two in space
Detusche Bank upgraded Diamond Offshore (DO) and Transocean (RIG) to Hold from Sell, saying that the companies should be boosted by upcoming reductions in the number of drilling rigs deployed by energy companies. WHAT'S NEW: As many as 180 drilling vessels may cease activity over the next 12-18 months, wrote Deutsche Bank analyst Mike Urban today. The energy sector seems to have become "more realistic" about the need to reduce supply and the offshore drilling industry is "on the cusp of a major restructuring" that should mark the bottom for valuations and pricing, he explained. Addressing the long-term outlook of deepwater drilling, Urban contended that the consensus outlook, which predicts that deepwater drilling will disappear, is incorrect. In ten years, there will be demand for 320 floating rigs, versus the 225 that are active today, Urban predicted. Over the long-term ,energy companies will have to "go where the oil is," and the oil is located in deep water, the analyst explained. He raised his price target on Diamond to $21 from $17 and on Transocean to $10 from $6. WHAT'S NOTABLE: A former executive at Petrobras (PBR) testified to receiving payments made by someone claiming to be an agent of Transocean in exchange for a rig-operation contract, linking the offshore rig contractor for the first time to the corruption probe of Brazil's state-run oil company, reported Bloomberg on September 24. The news outlet cited testimony from last month as its source for the story. Subsequently, Transocean said that it had not identified any wrongdoing by its employees vis-a-vis Petrobras and is "committed to doing business lawfully and with the highest ethical standards." PRICE ACTION: In morning trading, Diamond fell 4% to $17.62 and Transocean lost 1.75% to $12.36. OTHERS TO WATCH: Other oil and gas well drillers include Helmerich & Payne (HP), Ensco (ESV), Nabors Industries (NBR) and Seadrill (SDRL), all of which are in negative territory this morning.
10:21 EDTGEGE urges Congress to reauthorize ExIm Bank for all American companies
10:20 EDTGEGE says to stop manufacturing gas engines in Waukesha, Wisconsin
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10:20 EDTGEGE confirms plans to build gas engine facility in Canada
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10:07 EDTGEGE to move 350 jobs to Canada from Wisconsin, Reuters reports
General Electric will move 350 jobs to Canada from Wisconsin as it shifts production of large, gas-powered engines, Reuters reports. GE has been unable to access financing from the U.S. Export-Import Bank, the report notes. GE is expected to invest $265M in a new manufacturing plant at a yet-to-be-determined Canadian location. Reference Link
10:03 EDTGEGeneral Electric to move 350 jobs to Canada from Wisconsin, DJ reports
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08:43 EDTGEPZU's Klesyk: GE may sell BPH this year, Reuters reports
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07:38 EDTGEBox to hold a user conference
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September 24, 2015
07:49 EDTGEGE reaches agreement with UKEF to access export financing for up to $12B
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06:41 EDTGEGE likely to sell PE unit to France's Ardian, Bloomberg reports
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September 23, 2015
08:01 EDTGEGE Healthcare announces $300M commitment to support emerging market health
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September 22, 2015
16:00 EDTGEOptions Update; September 22, 2015
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10:32 EDTGEGeneral Electric names Linda Boff as Chief Marketing Officer
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08:03 EDTGEAres-EIF acquires 50% stake in Linden Cogen facility from GE unit
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08:01 EDTGEGE unit signs multiyear services agreement with Southern California Edison
GE's Power Generation Services business announced it has signed a multiyear services agreement with Southern California Edison to upgrade the utility's Mountainview Generating Facility, a 1,054-megawatt combined-cycle power plant in Redlands, California. Highlighting a growing trend with North American combined-cycle power stations, the upgrade project will reduce the facility's startup times, lower its emissions without using additional water and help to balance the growing role of renewables on the grid. GE's technologies will boost the station's output by about 48 MW, increase its efficiency and offer longer intervals between maintenance outages. By boosting Mountainview's flexibility, the project will help SCE protect the grid from the intermittency of the state's rapidly expanding renewable energy supplies while strengthening the facility's competitive position in California.
September 21, 2015
10:05 EDTESVHigh option volume stocks
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09:40 EDTGE, ESVActive equity options trading on open
Active equity options trading on open: AAPL BAC ESV BABA FB NFLX TSLA TWTR GE GPRO JPM ONVO MU
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