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Serving the oilfield service sector with news, analysis and business opportunities.

PLS publishes news and analysis on the oilfield service sector through its OFS module. The gold banner report, published every 3 to 4 weeks, covers the active sector with news and analysis on drilling, completions, field operations and technology.

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News Date
NOV signs initial contract for Seabox water treatment
National Oilwell Varco signed its first contract for the Seabox subsea water treatment system. A major operator will deploy the system at an offshore installation in Q3 for an extended test during...
Mar 02, 2018
Northern Offshore sells semisub to focus on jackups
Northern Offshore sold its semisubmersible Energy Driller for an undisclosed price to an unnamed party for conversion to alternative use. The unit had been cold stacked at a shipyard in Bahrain....
Mar 02, 2018
Lightning Ventures sells NM subsidiary in royalty deal
Vancouver-based Lightning Ventures Inc. agreed to sell its New Mexico subsidiary, Lightning Industries, to Titan Products for the promise of future royalties and a nominal $10 in cash. The Hobbs,...
Mar 02, 2018
Patterson-UTI acquires software company Superior QC
Patterson-UTI Energy acquired Superior QC, a provider of software used to improve the accuracy of horizontal wellbore placement, for an undisclosed amount. The transaction continues Patterson-UTI’s...
Mar 02, 2018
Schlumberger & Subsea 7 turning alliance into JV
Schlumberger and Subsea 7 decided that their Subsea Integration Alliance is going so well that they want to build it into a joint venture. The 50:50 JV will build on the expertise from both companies...
Mar 02, 2018
Trinidad Drilling engages advisors for strategic review
Trinidad Drilling could be up for sale after its board launched a strategic review to consider ways to unlock shareholder value. Even though 4Q17 was the Calgary-based driller’s sixth straight...
Mar 02, 2018
Newly public FTS signs up for $250MM ABL
FTS International entered into an asset-based lending credit facility with Wells Fargo as administrative agent. The facility provides the fracker with up to $250 million for revolving credit loans,...
Mar 02, 2018
Ensco reports new deals for 6 floaters & 14 jackups
ENSCO’s quarterly fleet status report included six new floater contracts, highlighted by Ensco 8504’s five-well contract with Repsol off Vietnam to commence in April. Among the company’s 14 new...
Mar 02, 2018
Ocean Rig Poseidon heading to Namibia for contract
Ocean Rig UDW signed a new contract for the ultra-deepwater drillship Ocean Rig Poseidon with Tullow for a one-well drilling program plus options off West Africa. The ultra-deepwater drillship, which...
Mar 02, 2018
Basic expects Q1 to be its best quarter since 2015
Activity this February for Basic Energy Services is exceeding the company’s 2017 peak, CEO Roe Patterson said. Houston-based Basic expects revenue for 1H18 to exceed 2H17 by 7%-10%.Basic’s...
Mar 02, 2018

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