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Sunday, September 20, 2020
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Energy After one merger called off in energy sector, another arises

After one merger called off in energy sector, another arises

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...

NEW YORK (AP) — FMC Technologies of Houston will attempt to merge with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy services sector.

The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would have more than 49,000 employees operating in 45 countries. Technip is based in Paris. The combined company would be based in Paris.

The announcement comes just two weeks after two industry behemoths Halliburton and Baker Hughes, facing resistance the U.S. Justice Department over monopoly concerns, abandoned a $35 billion tie-up.

Companies in the energy sector are trying to drive down costs and have laid off thousands of workers because of tumbling oil and natural gas prices.

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