Tanner Companies, a premier provider of oilfield services primarily in Texas and Louisiana, announced that it has changed its name to Cadre Services, Inc. The change is effective immediately.
“Over the past 25 years, Tanner Companies has proudly served the oil and gas market with a growing portfolio of products and services ranging from oilfield construction [...]

Savanna Energy Services Corp. announce the signing of a definitive agreement to acquire the assets of a privately-held oilfield services rental company for aggregate cash proceeds of $20.0 million, subject to adjustments at closing. Closing is anticipated to occur no later than September 12, 2008.
The acquisition includes a substantial inventory of drilling and well servicing-related [...]

Key Energy Services, Inc. announced that it has agreed to invest approximately $35 million in Geostream Services Group (”Geostream”) in exchange for a fifty percent (50%) equity interest in the company. Geostream, which is headquartered in Moscow, provides drilling and workover services and sub-surface engineering and modeling in the Russian Federation. Key also has the [...]

Allis-Chalmers Energy Inc. and Bronco Drilling Company, Inc. announced that they have terminated their Agreement and Plan of Merger relating to the proposed acquisition of Bronco by Allis-Chalmers. Allis-Chalmers and Bronco agreed to terminate the merger agreement in light of clear indications that Bronco stockholders would not adopt the merger agreement.
Micki Hidayatallah, Allis-Chalmers’ Chairman [...]

Trent Moore, Vice President, reports: Running Fox management is pleased to release 2008 first six months financial statements on SEDAR, ending May 31, 2008.
For the six period ended 31 May 2008, the Company’s revenues were $3,568,772 and earnings (EBITDA) were $106,732. This compares favorably to 2007 revenues of $2,986,631 and an EBITDA loss of $440,037 [...]

Oilfield services provider Schlumberger Ltd. reporting a nearly 13 percent jump in profit driven by robust spending among customers searching for new sources of crude and natural gas. Unless the global economy goes into the tank, Schlumberger said it expects continued brisk spending on exploration and production as energy companies try to benefit from high [...]

It is reported that Shares of Eclipsys Corp. rose Friday after Standard & Poor’s said it will add the health care software maker’s stock to its S&P SmallCap 600 index. The Atlanta-based company will replace W-H Energy Services Inc. on the index as W-H Energy is being purchased by oilfield services provider Smith International Inc., [...]

Oilfield services provider Superior Well Services Inc told the press on friday that the company has bought Nuex Wireline Inc. for about $6 million in cash.
Nuex specializes in cased-hole completion, which involves preparing a path for oil to flow from surrounding rock into production tubing for extraction.
The assets include 5 cased hole trucks, various tools [...]

Superior Well Services, Inc told the press about the latest news saying that it purchased substantially all of the operating assets of Nuex Wireline, Inc. (”Nuex”) for approximately $6.0 million in cash. Nuex provides cased hole completion services. The operating assets include 5 cased hole trucks and various tools and logging systems that are compatible [...]

Schlumberger Ltd announced that its shares jumped Friday after the oilfield services provider said its second-quarter profit rose 13 percent and issued a bullish outlook. Analysts praised the results. The stock rose $4.72, or 4.9 percent, to $101.50 in late-morning trading.
The Houston-based company said high oil and natural gas prices led to heavier spending [...]