Seadrill Ltd., controlled by Norwegian billionaire John Fredriksen, executed four drilling contracts with Mexico’s state-owned oil company Petroleos Mexicanos as the country opens to foreign investment for the first time in 76 years.
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.
Carl Icahn’s new stake in Transocean Ltd. may raise pressure on the world’s largest offshore driller to put some of its rigs into a tax-advantaged partnership as the billionaire seeks to boost his investment’s value.
Transocean Ltd. will boost its dividend and cut costs as part of an agreement with Carl Icahn, months after the world’s largest offshore rig contractor won a shareholder battle with the billionaire investor.
Transocean Ltd., the deep-water rig owner that’s trailed competitors in the stock market since its equipment burned and sank in the 2010 Gulf of Mexico oil spill, is set to benefit the most this year from a surge in demand.
Motorola Mobility Holdings Inc. had rallied 40 percent from its spinoff when Adnaan Ahmad started covering the stock with a “sell” rating. The mobile-phone maker has lost nearly all its gain since his Jan. 21 report.