Weatherford

A rise in oil prices close to 3-year highs should further stimulate a recovering oilfield services and equipment sector, despite lower than expected late-2017 activity in US shale.

Schlumberger and Weatherford called off a joint venture, with Schlumberger buying Weatherford’s US fracturing assets outright.

McDermott and CB&I will form a vertically integrated onshore-offshore construction and engineering services provider. Other deals include Jacobs Engineering Group acquiring CH2M and the expected close by year end of the Schlumberger and Weatherford OneStim JV.

Schlumberger and Weatherford are forming a joint venture to tackle the North American unconventionals oilfield services market.