The New York Stock Exchange News

Oceanic Sirius deploying streamer spread during offshore seismic survey (image courtesy of CGG)

CGG Plans to Delist from the NYSE

CGG S.A., an geoscience company providing geological, geophysical and reservoir capabilities, said that the Board of Directors has unanimously approved the voluntary delisting of its American Depositary Shares from the New York Stock Exchange and its voluntary deregistration with the U.S. Securities and Exchange Commission.According to a press release on the matter, CGG said that the costs associated with continuing the listing and registration of its ADSs exceed the benefits received by CGG, as the primary market for CGG shares is Euronext Paris.Following delisting of the ADSs from the NYSE, CGG

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Schlumberger Wins in US Supreme Court on Patent Damages

that extending patent damages beyond national borders would expose U.S. high-technology firms to greater patent-related risks abroad.The ruling initially sent ION's shares into a tailspin, diving as much as 20 percent at one point and triggering a 5-minute trading halt in the shares on the New York Stock Exchange. ION shares steadily recovered the loss, however, and are little changed on the day.Schlumberger shares, meanwhile, are up 4 percent, but most of that gain occurred before the ruling was released and on the heels of a modest oil output increase agreement that was reached by OPEC earlier

Photo: Jan Arne Wold / Woldcam

Statoil Name Change Expected in May

to approve the proposal to change the company’s name to Equinor ASA.Subject to the AGM’s approval of the name change and subsequent implementation, the new ticker “EQNR” is also excpected to be implemented for the company’s American Deposit Rights (ADRs) traded on the New York Stock Exchange (NYSE). The exact date of change of ticker on NYSE will be announced separately, however implementation of the new ticker on NYSE will take place on May 17, 2018 at the earliest

Image: TechnipFMC

TechnipFMC Begins Operations Post-merger

, Executive Chairman of TechnipFMC, said, “As one company, we can make oil and gas projects more viable, driving value for our clients and shareholders. . . TechnipFMC will advance the creation of cost-efficient solutions for years to come.”   TechnipFMC has begun trading on the New York Stock Exchange and on the Euronext Paris Stock Exchange under the symbol FTI. Under the terms of the merger agreement, FMC Technologies shareholders received one share of the combined company for each existing share of FMC Technologies, and Technip shareholders received two shares of the combined company


Transocean Closes Acquisition of Transocean Partners

Transocean Ltd. announced the closing of the acquisition of Transocean Partners. Each outstanding public common unit of Transocean Partners was converted into the right to receive 1.20 shares of Transocean Ltd., which issued approximately 23.8 million shares related to the transaction. In connection with the closing, Transocean Partners' common units were delisted from the New York Stock Exchange.

Photo: GE

GE to Merge Oil & Gas Unit with Baker Hughes

;nose-to-nose" with Schlumberger.   Shareholders of Baker Hughes, which had a market value of about $26 billion as of Friday, will get a special one-time cash dividend from GE of $17.50 per share - or $7.4 billion - after the deal closes.   The new company, to be listed on the New York Stock Exchange, will have dual headquarters in Houston and London.   Baker Hughes shares rose as much as 5 percent in morning trade before reversing course to trade down nearly 8 percent at $54.60. Shares of GE slipped 0.1 percent to $29.18.   Centerview Partners and Morgan Stanley are

Photo: NAO

Hansson Sees Positive Outlook for NAO

;rn Hansson, has increased his ownership in the company, purchasing an additional 50,000 NAO shares with his son, Alexander, yesterday at about $7.83 per share.   In a letter to NAO shareholders, Hansson shared thoughts on the progress the company has made since first being listed on the New York Stock Exchange (NYSE) in June 2014, entering the Platform Supply Vessel (PSV) market against high, stable oil prices and record investment levels in the offshore segment.   “Currently the market for our vessels is turbulent - the decline in oil price has led to reductions in exploration

Photo courtesy of Transocean

As Oil Prices Drop, Rigs Go Off-Line

quarter and maintain the option to pursue a divestiture later. "The company will continue to assess the competitiveness of non-core assets on a case-by-case basis," Chief Executive Steven Newman said on a conference call. Transocean's shares were up 1 percent at $29.99 on the New York Stock Exchange on Monday, after touching a high of $30.58. (Reporting By Kanika Sikka in Bangalore; Editing by Joyjeet Das

Offshore rig in storm: File Image CCL

McDermott Get Big Middle East Offshore Contract

out by vessels from the McDermott global marine fleet. Offshore operations are expected to commence in the fourth quarter of 2014, with project completion, including hookup and commissioning, planned for the first quarter of 2015. About McDermott The company, founded in 1923 and listed on the New York Stock Exchange,  is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. It delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore

NAO Takes Delivery of Platform Supply Vessel

of around $12,000 per day per vessel. NAT participated in the private placement of NAO shares in November 2013 with an investment of $65 million, which was financed by a follow-on equity offering in NAT at the same time. NAT has previously announced that it expects NAO to list its shares on the New York Stock Exchange as early as possible, hopefully during the first quarter of 2014. NAT is considering distributing to NAT shareholders about $10 million worth of NAO shares as a dividend in kind around the time of listing. This dividend equates to about $0.13 per NAT share. In addition, NAT is planning

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