Edition:
United Kingdom

Liz Hampton

ProPetro says no customer impact from SEC disclosures, probes

14 Nov 2019

ProPetro Holding Co on Thursday said it had not lost customers and did not expect to restate prior results amid a board probe in financial disclosures and an investigation by the U.S. Securities Exchange Commission.

ProPetro confirms U.S. SEC probe, accounting weaknesses

13 Nov 2019

Oilfield services firm ProPetro Holding Corp on Wednesday said a board investigation had uncovered material weaknesses in its financial controls and an undisclosed related-party transaction with its former chief accountant.

U.S. frack sand suppliers latest casualties in shale industry slump

11 Nov 2019

The companies that provide sand for hydraulic fracturing operations are the latest casualties of shale industry cutbacks as low oil prices and demands for higher investor returns stunt drilling activity.

Frack sand supplier Carbo Ceramics shares plummet after "going" concern warning

11 Nov 2019

Nov 11 Shares of oilfield service supplier Carbo Ceramics fell roughly 45% Monday after the company issued a "going" concern warning to investors following the loss of its largest frack sand customer.

EOG Resources shares jump on upbeat third-quarter earnings

07 Nov 2019

Shares of shale producer EOG Resources Inc. rose as much as 5.6% on Thursday after the company topped its third-quarter oil production targets and pared its 2019 capital spending plan.

Shares of oilfield firm ProPetro fall 10% on short-seller's report

31 Oct 2019

Shares of oilfield services firm ProPetro Holding Corp fell as much as 10% on Thursday after investment researcher Culper Research released a report outlining business dealings among its executives and board members, and criticized an internal audit into disclosures and related-party transactions as a "farce."

Liberty Oilfield Services CEO expects pricing pressure to continue

30 Oct 2019

DENVER Liberty Oilfield Services on Wednesday said a seasonal slowdown in hydraulic fracturing has started early this year, indicating more pain for oilfield services providers facing cuts in customer spending.

UPDATE 2-Baker Hughes adjusted profit rises on strong demand

30 Oct 2019

Oct 30 Baker Hughes Co reported a 46% jump in quarterly adjusted profit on Wednesday on stronger performances in both oilfield services and turbomachinery, sending its shares higher in early New York trading.

Liberty Oilfield Services sees slowdown in frack activity, weak pricing

30 Oct 2019

DENVER, Oct 30 Hydraulic fracturing company Liberty Oilfield Services on Wednesday said a seasonal slowdown in activity had started early this year, indicating more pain for an industry already hampered by cuts in customer spending.

Investors brace for poor U.S. shale earnings amid weak oil and gas prices

28 Oct 2019

Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.

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