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Oil & Gas Drilling

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Seadrill cuts 2017-2022 income, earnings projections

Saturday, 16 Dec 2017

Dec 16 (Reuters) - Seadrill Ltd ::‍HAS PREPARED AN UPDATED BUSINESS PLAN​.‍FILED A REVISED DISCLOSURE STATEMENT WITH COURT OVERSEEING ITS CHAPTER 11 CASES IN SOUTHERN DISTRICT OF TEXAS. REVISED DISCLOSURE STATEMENT INCLUDES VALUATION AND LIQUIDATION ANALYSES​.OVER THE PERIOD 2017-2022 SEE REVENUES LOWER BY $1,407 MILLION, EBITDA LOWER BY $499 MILLION AND CASH FLOW (UFCF) LOWER BY $604 MILLION COMPARED TO THE PRESENTATION PUBLISHED ON 12 SEPT.THE UPDATED BUSINESS PLAN DOES NOT DRAW ON EITHER IHCO CASH OR ON THE $500 MILLION AMORTISATION CONVERSION ELECTION.WHILE DAYRATES AND UTILISATION ARE GENERALLY LOWER THAN THE CLEANSING PRESENTATION THROUGHOUT THE PROJECTION PERIOD, THE FORECAST ANTICIPATES A RETURN TO A NORMALISED MARKET BY 2021.ALTHOUGH THERE IS A $603 MILLION REDUCTION IN UFCF OVER THE FORECAST PERIOD, RIGCO DOES NOT NEED TO RECEIVE CASH FROM IHCO OR EXERCISE THE AMORTISATION CONVERSION ELECTION.

Helmerich & Payne Announces Acquisition Of Magnetic Variation Services, Llc

Friday, 8 Dec 2017

Dec 8 (Reuters) - Helmerich And Payne Inc ::HELMERICH & PAYNE, INC. ANNOUNCES ACQUISITION OF MAGNETIC VARIATION SERVICES, LLC.HELMERICH AND PAYNE SAYS FINANCIAL TERMS OF ACQUISITION WERE NOT DISCLOSED.

Western Energy Services Corp. Announces 2018 Capital Budget

Thursday, 7 Dec 2017

Dec 7 (Reuters) - Western Energy Services Corp ::WESTERN ENERGY SERVICES CORP. ANNOUNCES 2018 CAPITAL BUDGET.WESTERN ENERGY SERVICES CORP - 2018 CAPITAL EXPENDITURE BUDGET IS EXPECTED TO BE COMPRISED OF $12 MILLION OF MAINTENANCE CAPITAL AND $8 MILLION OF EXPANSION CAPITAL.WESTERN ENERGY SERVICES CORP - 2018 CAPITAL EXPENDITURE BUDGET OF APPROXIMATELY $20 MILLION.

Precision Drilling Corp Announces 2018 Capital Expenditure Plan

Monday, 4 Dec 2017

Dec 4 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES 2018 CAPITAL EXPENDITURE PLAN AND PROVIDES BALANCE SHEET UPDATE.PRECISION DRILLING CORP - ‍ANNOUNCED A 2018 CAPITAL EXPENDITURE PLAN OF $94 MILLION.PRECISION DRILLING CORP - ‍ANTICIPATE 2017 CAPITAL EXPENDITURES TO BE APPROXIMATELY $104 MILLION, CONSISTENT WITH OUR PREVIOUS GUIDANCE​.PRECISION DRILLING CORP - ‍2018 CAPEX PLAN OF $94 MILLION, COMPRISED OF $62 MILLION FOR MAINTENANCE AND INFRASTRUCTURE AND $32 MILLION TO UPGRADE EXISTING RIGS​.

Tesco Corp Shareholders Vote To Approve Acquisition By Nabors

Friday, 1 Dec 2017

Dec 1 (Reuters) - Tesco Corp ::TESCO CORPORATION SHAREHOLDERS VOTE TO APPROVE ACQUISITION BY NABORS.TESCO CORP - CO, NABORS EXPECT CLOSING OF TRANSACTION TO OCCUR BY YEAR END.

Precision Drilling Corporation Announces Addition Of New Director

Friday, 1 Dec 2017

Dec 1 (Reuters) - Precision Drilling Corp ::PRECISION DRILLING CORPORATION ANNOUNCES ADDITION OF NEW DIRECTOR.PRECISION DRILLING CORP - ANNOUNCED TODAY ADDITION OF MICHAEL CULBERT TO ITS BOARD OF DIRECTORS.

ADES Says Revenues Rose 34 Pct To $119 Mln In Nine-Month Period

Friday, 1 Dec 2017

Dec 1 (Reuters) - Ades International Holding Ltd ::REVENUES FOR NINE-MONTH PERIOD ENDED 30 SEPTEMBER 2017 WERE APPROXIMATELY USD 119 MILLION, A 34% INCREASE YOY.CASH AND CASH EQUIVALENTS STOOD AT SEPT END USD 148.5 MILLION 3 , GIVING A NET DEBT OF USD 73 MILLION..GROUP MAINTAINS ITS GUIDANCE FOR YEAR-END RESULTS WITH REGARDS TO REVENUE GROWTH, NORMALISED NET PROFIT AND NET PROFIT MARGIN.

Trinidad Drilling Announces The Extension And Amendment Of Its Credit Facility

Thursday, 30 Nov 2017

Nov 30 (Reuters) - Trinidad Drilling Ltd ::TRINIDAD DRILLING LTD. ANNOUNCES THE EXTENSION AND AMENDMENT OF ITS CREDIT FACILITY.TRINIDAD DRILLING LTD - ‍AGREED TO EXTEND MATURITY OF COMPANY'S EXISTING CREDIT FACILITY BY TWO YEARS, EXTENDING MATURITY DATE TO DECEMBER 12, 2020​.TRINIDAD DRILLING LTD - MINOR AMENDMENTS WERE MADE TO FACILITY AND SIZE OF CREDIT FACILITY REMAINS UNCHANGED AT C$100 MILLION AND US$100 MILLION​.TRINIDAD DRILLING-EXPECTS BANK EBITDA TO CASH INTEREST EXPENSE COVENANT TO BE POSITIVELY IMPACTED IN 2018 BY LOWER INTEREST RATE ON ITS SENIOR NOTES​.

Diamond Offshore CFO Kelly Youngblood To Resign

Monday, 27 Nov 2017

Nov 27 (Reuters) - Diamond Offshore Drilling Inc ::DIAMOND OFFSHORE DRILLING - ‍ON NOV 20, CFO KELLY YOUNGBLOOD NOTIFIED COMPANY OF HIS INTENTION TO RESIGN.DIAMOND OFFSHORE DRILLING INC SAYS IT IS CONDUCTING A SEARCH FOR YOUNGBLOOD'S REPLACEMENT​.DIAMOND OFFSHORE DRILLING INC- ‍ON NOV 20, APPOINTED SCOTT KORNBLAU, VICE PRESIDENT AND TREASURER, TO SERVE AS ACTING CFO.

SD Standard Drilling Q3 operating loss widens to $‍​5.8 mln

Friday, 24 Nov 2017

Nov 24 (Reuters) - SD STANDARD DRILLING PLC :Q3 OPERATING LOSS $‍​5.8 MILLION VERSUS LOSS $81,000 YEAR AGO.SAYS PSV-MARKET IN THE NORTH SEA SECTOR WILL BE DIFFICULT THE COMING WINTER‍​.EXPECTS THAT THERE WILL BE AN UPTURN IN THE MARKET FROM THE SPRING OF 2018..

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