SLB taking home the prize in $8.2B ChampionX acquisition

Enverus Blog - Coterra’s big Permian projects defy degradation worries

In the biggest oilfield services transaction since 2016, SLB agreed to acquire ChampionX Corp. for $7.76 billion in stock, bringing an industry leader in production chemicals into the OFS giant’s fold. ChampionX’s $420 million in net debt brings the transaction to an $8.18 billion enterprise value.

OFS providers bask in bright outlook for activity outside U.S.

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Enverus Intelligence Publications presents the news as it happens with impactful, concise articles, cutting through the clutter to deliver timely perspectives and insights on various topics from writers who provide deep context to the energy sector.

OFS firms hope Haynesville rebound won’t wait for LNG wave


While the Haynesville has been responsible for much of 2023’s woes for U.S. oilfield services contractors, they appear convinced that the worst is over. Still, no one expects a full rebound until new LNG export capacity on the U.S. Gulf Coast comes online. The Ark-La-Tex active rig count was over 80 for most of 2H22 […]

Identifying key growth opportunities with international oilfield data 


In the oilfield services space, not every company is well equipped for international growth. There’s a distinct risk profile that comes with working overseas. Commercial risk, compliance, geopolitical issues, logistics… it requires additional resources and investment to do properly. To add another layer of complexity, companies often have poor visibility into the future and find […]

Valaris to finally buy long-waiting drillships amid 90%+ utilization


Valaris Ltd. will issue $350 million in 8.375% senior secured second-lien notes due 2030 as it prepares to buy two newbuild drillships currently in South Korean shipyards, more than 10 years, two mergers and one bankruptcy after the rigs were originally ordered. The offshore driller will exercise its option to buy both rigs with a […]

Transocean’s $518MM contract off Mexico reflects revived market

Transocean Ltd. secured a 1,080-day contract for a high-specification seventh-generation ultra-deepwater drillship in the Mexican sector of the Gulf of Mexico (GOM) at one of the highest day rates the company has commanded in years. The contract will contribute $518 million in backlog, excluding revenue for mobilization and demobilization, meaning the drillship will collect roughly […]

After Patterson-UTI dove in, will others enter the M&A pool?


As others look to specialize, Patterson-UTI Energy Inc. has seized the opportunity to become a diversified U.S. onshore oilfield services company. Patterson-UTI agreed in July to acquire drill bit designer and manufacturer Ulterra Drilling Technologies LP, just weeks after the announcement that it would merge with fracker NexTier Oilfield Solutions Inc. These moves could be […]

3 Key Efficiency Metrics for Enhanced Operations With Enverus PRISM® Activity Analytics

Understanding the timing of each stage of preproduction, known as efficiency metrics, is imperative for having confidence in forecasting cycle times of operators and service companies. This helps ensure equipment is fully utilized and groups know what’s needed for each development phase. To decipher efficiency metrics, it’s necessary to create a complete picture of what […]

Permit to First Production: Optimize the Many Stages of Pre-Production

Unlike the energy industry’s pre-pandemic growth, today’s market is focused on lean operations, asset optimization and sourcing reserves as efficiently as possible. The current oil and gas development landscape presents many pitfalls and abundant opportunities, making it imperative to do more than merely “get ahead of the bit.” Investors and operators need visibility into oilfield […]

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