BP Deepwater Horizon Costs Balloon to $65 Billion
claims in recent months were significantly higher, BP and analysts expect the latest charge to be fully manageable as BP is set to see a sharp increase in revenue this year thanks to higher oil prices. Still, there was a risk that the final bill could rise again, Brendan Warn, analyst at BMO Capital Markets said. "We note that the last few remaining claims are likely to be the most complex and sizeable, with this quarter's provision being evidence of that," Warn said. "We acknowledge the possibility that there might be further provisions in the next few quarters
Schlumberger to Buy Cameron in $14.8 Bln Deal
trading on Wednesday. Schlumberger's shares fell 3.5 percent to $70.02. The two companies had created a joint venture in November 2012 for deepwater drilling. "The deal should allow a more complete solution to customers and should allow SLB to grow market share," said BMO Capital Markets analyst Daniel Boyd. "Smaller companies offering discrete products and services will likely be at a disadvantage going forward." Schlumberger's closest rivals Halliburton Co and Baker Hughes Inc agreed in November to merge in an effort to contain costs. That deal
February 2025
