On Friday, Shares of Schlumberger Limited (NYSE:SLB), ended flat to $86.67.
OneSubsea®, a Cameron (CAM) and Schlumberger company, has been awarded a contract totaling more than $60 million for the Shah Deniz Two development, operated by BP, offshore Azerbaijan.
OneSubsea was awarded the initial contract for subsea trees for Shah Deniz Two in 2013. The scope of the new contract comprises the supply of the second of three planned batches of subsea production trees and ancillaries. Deliveries are predictable to commence 2016.
OneSubsea Chief Executive Officer Mike Garding said, “We are very happy to be ongoing the work on the Shah Deniz development. These high pressure trees are based on the tree technology supplied for the BP Isabela project in the Gulf of Mexico.”
OneSubsea, a Cameron and Schlumberger Company, offers a step-change in reservoir recovery for the subsea oil and gas industry through integration and optimization of the entire production system over the life of the field. Cameron, with its long history of innovation and firsts in the subsea market, is an industry leader in design capability, manufacturing excellence and successful installations.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Shares of National Oilwell Varco, Inc. (NYSE:NOV), inclined 0.90% to $49.41, during its last trading session.
Credit Suisse lowered National Oilwell Varco’s 2015 earnings estimates to $2.93 from $3.10 per share, and lowered 2016 earnings estimates to $2.43 from $2.89 per share.
The firm maintained an “underperform” rating with a price target of $43 on the stock.
With a still awful environment for U.S. onshore activity and pricing, the second quarter earnings results were worse than had been predictable, and the firm lowered its second quarter forecast to $0.63 per share from $0.69, according to the analyst note.
“The U.S. rig count continues to fall and has surpassed virtually all expectations; the Baker Hughes horizontal rig count stands 52% beneath its November peak last year,” Credit Suisse analysts said.
National Oilwell Varco, Inc. designs, manufactures, and sells equipment and components used in oil and gas drilling, completion, and production; and provides oilfield services to the upstream oil and gas industry worldwide. The company’s Rig Systems segment offers land rigs; offshore drilling equipment packages; and drilling rig components.
Finally, MRC Global Inc. (NYSE:MRC), ended its last trade with 2.20% gain, and closed at $15.82.
MRC Global Inc., declared that it will release its second quarter 2015 results on Monday, August 3, 2015 after the market closes. In conjunction with the release, the Company has planned a conference call, which will be broadcast live over the Internet, for Tuesday, August 4, 2015 at 10:00 a.m. Eastern / 9:00 a.m. Central.
MRC Global Inc., through its auxiliaries, distributes pipes, valves, fittings, and related products and services to the energy and industrial sectors in the Unites States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, in addition to steam and instrumentation products.
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