Texaco Inc. geologist Robert Ryan didn’t suspect he was helping change the energy future of the Gulf of Mexico when he gave the go-ahead for a well that would break the world record for deep-water drilling.
Nabors Industries Ltd., the world’s largest land-rig drilling contractor, said second-quarter operating results will miss analysts’ estimates on higher costs. The company also adopted a shareholder rights plan, designed to deter an unsolicited takeover.
FMC Technologies Inc., the largest U.S. provider of subsea gear to the oil and natural gas industry, climbed the most in more than six months after beating expectations for orders last quarter and forecasting another record year.
FMC Technologies Inc., the largest U.S. provider of subsea equipment to the oil and natural-gas industry, agreed to buy Pure Energy Services Ltd. for about C$282 million ($285 million) to expand its services to companies performing hydraulic fracturing.
Halliburton Co., the world’s largest provider of hydraulic-fracturing services, said North American profit margins this quarter will shrink more than previously forecast because of higher material costs.