Archer Ltd., an oilfield services provider, dropped to a one-month low in Oslo on a slower-than- expected recovery in profit margins as energy producers rein in spending on exploration and development.
Seadrill Ltd., the second-largest owner of ultra-deepwater drilling rigs, gained the most in three months in Oslo after a report that Brazil’s Petroleo Brasileiro SA will resume talks with contractors about extending charters.
Archer Ltd rose to its highest price in almost six weeks in Oslo trading after the oilfield services provider named a new chief executive, which RS Platou Markets AS said raises the prospect of a profit improvement.
Seadrill Ltd., held by billionaire John Fredriksen, plans to take over Sevan Drilling ASA and its deepwater oil and gas rigs after acquiring more than half the company’s shares at a price Sevan’s board says is too low.
Seadrill Ltd., an offshore driller controlled by billionaire John Fredriksen, is seeking to buy 50.1 percent of Sevan Drilling ASA to nix financing plans for the target that it says would destroy shareholder value.
Seadrill Ltd., the offshore drilling company controlled by billionaire John Fredriksen, climbed in Oslo as investors bet payments to shareholders will increase when the company reports its first-quarter results tomorrow.
Fred Olsen Energy ASA rose to a six- week high in Oslo ahead of the offshore drilling company’s quarterly results tomorrow, which analysts say may provide more detail on plans for increased dividends or new rig purchases.
Seadrill Ltd., the offshore drilling company controlled by billionaire John Fredriksen, climbed to a nine-month high in Oslo as strong demand from oil and gas producers boosts the outlook for earnings and dividend growth.