Fri, Jan. 2, 9:07 AM| Comment!
Nov. 14, 2014, 12:48 PM
- Oil services companies are mostly higher as Halliburton (HAL +1.7%) is indeed in talks to buy Baker Hughes (BHI +0.5%), a deal that would provide a jolt to oilfield services companies contending with falling oil prices: SLB +0.4%, OIS +1.2%, SPN +2.3%, CAM +0.2%, FTI -0.3%, NOV -0.6%.
- Sterne Agee analyst Stephen Gengaro calls a potential HAL-BHI combo a “HAL of a Frac-ing Deal," seeing several positives for HAL including strengthening its relatively weak position in artificial lift and production chemicals which are critical to enhancing HAL’s mature field strategy, enabling it to leverage its unparalleled U.S. pressure pumping logistics chain to enhance the efficiency of BHI’s operations, and providing the opportunity for significant cost savings which likely would total $600M-$750M or more.
- While antitrust concerns could force some divestitures, Gengaro does not believe it would prevent a deal from happening.
- Other potentially attractive M&A targets among oil services companies could include Dril-Quip (DRQ +0.7%), Frank’s International (FI +2.6%) and Oceaneering (OII -0.2%), Simmons & Co. says.
Aug. 18, 2014, 6:55 AM
Jan. 20, 2014, 10:14 PM
- GE earlier today said it agreed to acquire Cameron International's (CAM) reciprocating compression unit for $550M, in a deal GE sees as strengthening its recently formed downstream technology solutions unit.
- The development of shale fields, especially in North America, has increased demand for high-speed reciprocating compressors used in gas gathering, gas lift and injection, transmission and storage; CAM's unit had sales of ~$355M in 2012.
- CAM says it expects to post a loss of ~$100M on the sale, reflecting the write-off of goodwill.
May 7, 2013, 10:54 AMDresser-Rand (DRC +3.8%) is turning into a takeover target for potential buyers such as Siemens (SI), National Oilwell Varco (NOV) and Cameron (CAM), Bloomberg writes. GE’s decision to buy Lufkin this year at the highest multiple to profit on record signaled an appetite for takeovers in the oilfield equipment industry, and DRC could be next on the list as the number of takeout candidates in the space diminishes. | 1 Comment
Aug. 22, 2012, 5:08 PMConditions are ripe for large oilfield service and equipment companies - think HAL, SLB, NOV, CAM, FTI - to continue to snap up smaller firms and assets, Barclays says, citing new regulations encouraging high-specification equipment, operator demand for equipment capable of increasing efficiencies, and the ongoing build-out in offshore markets. (also) | 1 Comment
Aug. 31, 2011, 9:39 AMJoy Global (JOYG +5.6%) opens with a bounce after topping Q3 earnings views, and raising full-year earnings and revenue guidance. The mining equipment maker also says it will sell its LeTourneau drilling operation to Cameron International (CAM +1%) for $375M. JOYG is in the process of buying China's International Mining Machinery Holdings. | Comment!
CAM vs. ETF Alternatives
Cameron International Corp is a provider of flow equipment products, systems and services to worldwide oil, gas and process industries. It also works with drilling contractors, oil & gas producers, pipeline operators and refiners.
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