Amidst the gloomy days of August when Brent Crude bottomed out at $42/bbl, the acquisition of Cameron by Schlumberger ($14.8 billion) took place as one of the largest mergers in the oil patch, following the tie-up of Halliburton and Baker Hughes ($32 billion) in November 2014. This consolidation has resulted in an integrated service & equipment provider covering the full oil & gas lifecycle from reservoir to first flow.
Schlumberger announced today that it has acquired Novatek Inc. and Novatek IP, LLC. (Novatek), U.S.-based companies that specialize in synthetic diamond technology primarily for the oil and gas industry.
Schlumberger Limited and Cameron jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies.
Schlumberger is buying Cameron in a cash-and-stock deal valued at about $12.71 billion that would create an oilfield equipment and service powerhouse. Cameron International Corp shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 for each of their shares. That equates to a value of $66.36 per Cameron share. That's a 56 per cent premium to the Houston company's Tuesday closing price of $42.47.
By Ilya Arkhipov Dina Khrennikova Evgenia Pismennaya
Schlumberger today expanded its Gulf of Mexico multiclient wide-azimuth seismic data portfolio by launching a new survey in the Campeche Basin.
Halliburton and Schlumberger, both among the world’s largest oilfield services companies, are waiting in hopeful anticipation that Iran will ramp up oil exports, US media have said.
PGS have executed an MOU for a cooperation agreement with Spectrum and Schlumberger in Mexico. The collaboration will acquire 80,000 - 100,000 kilometers of modern, long-offset 2D data encompassing all the major hydrocarbon provinces offshore Mexico.
Schlumberger announced the launch of the Depth Domain Inversion Services. Schlumberger petrotechnical experts use the services to improve the reliability and consistency of seismic structural and quantitative interpretation in complex environments.
A Russian government commission should decide on Schlumberger's bid for Eurasia Drilling in two to three weeks, an official from Russia's Federal Antimonopoly Service (FAS) said on Thursday, reported Reuters.