Schlumberger CFO Ayat to Retire Soon
investors concerned about past investments by the company's Schlumberger Production Management, or SPM business, which takes direct stakes in oil projects."It's something that investors don't like. You buy Schlumberger because it is an oil services company, not a producer," said Cowen & Co analyst Marc Bianchi. The new CFO would have to continue selling assets from the unit, Bianchi said.Last year, Schlumberger launched a reorganization to simplify its business structure. The company also has said it was slowing investments in the SPM business.Schlumberger shares were off
US Energy Jobs Rise as Higher Prices Boost Oil Drilling
to stem the oversupply. Analysts said U.S. exploration and production (E&P) companies responded to those higher prices by adding around 250 oil rigs over the past eight months, with even more spending expected on drilling over the next year or two. Analysts at U.S. financial services firm Cowen & Co said this week in a note that capital expenditure tracking showed 31 exploration and production (E&P) companies planned to increase spending by an average of 36 percent in 2017 over 2016. That expected spending increase in 2017 follows an estimated 45 percent decline in 2016 and a
US Energy Jobs on the Rise
the oversupply. Analysts said U.S. exploration and production (E&P) companies responded to those higher prices by adding more than 200 oil rigs over the past six months with even more spending expected on drilling over the next year or two. Analysts at U.S. financial services firm Cowen & Co said this week in a note that capital expenditure tracking showed 25 E&Ps planned to increase spending by an average of 33 percent in 2017 over 2016. That expected spending increase in 2017 follows an estimated 47 percent decline in 2016 and a 35 percent decline in 2015, Cowen
Fuel Cell Stocks Take Market on a Wild Ride
- interest in the sector has surged since early 2013, when Plug Power announced an initial public offering. "It went from running out of money and doing little business to having a strong balance sheet and enough cash to invest and expand," said Rob Stone, an analyst who covers the sector at Cowen & Co in Boston and has a $6 price target on Plug. The situation is "as different as night and day" now. Plug, which trades at $4.78, is one of Cowen's clients, and the brokerage has received compensation from the company. The price of Plug's stock has jumped more than 900 percent
