Oil & Gas Equipment & Services

Elroy Air announced that Bristow Group Inc. has expanded its early delivery reservations for the Chaparral autonomous cargo aircraft, reserving 10 additional early delivery positions for a total of 15. Bristow previously secured early delivery slots for five Chaparral drones and announced a pre-order agreement for up to 100 Chaparral drones. The announcement follows the first autonomous, uncrewed flight demonstrations conducted in Houma, Louisiana, as part of the Federal Aviation Administration's and the U.S. Department of Transportation's eVTOL Integration Pilot Program, in collaboration with government and industry partners. Bristow Executive Vice President and Chief Transformation Officer David Stepanek said the Louisiana demonstrations gave the company a chance to explore how Chaparral could support a range of transportation and logistics missions, adding that Bristow sees potential applications across commercial, government services, and special mission operations. Elroy Air CEO Dr. Andrew Clare said the company was proud to have partnered with Bristow over the last few years and appreciated Bristow's continued confidence in the platform. The Chaparral is an uncrewed, autonomous VTOL aircraft that carries 500+ pounds of cargo, requires no runways or fixed infrastructure, and has a hybrid-electric powertrain with range of up to 450 miles. Kratos Defense & Security Solutions, the exclusive U.S. manufacturer of Chaparral, will produce the aircraft at its expanding Sacramento, California facility, with the first production aircraft planned for late 2026.

Halliburton Company has secured a bundled well construction and completions contract from Eni S.p.A. for the Cronos ultra-deepwater development in Block 6 of Cyprus' Exclusive Economic Zone. The contract covers integrated drilling, well construction, automation and completions services for exploration and development wells, with Halliburton providing drilling fluids, directional drilling, LOGIX automation and remote operations, cementing, surface well testing and coiled tubing. Cronos represents Eni's first gas development in Cyprus and is located in Block 6, where Eni operates with a 50% interest alongside TotalEnergies; Eni reached the project's final investment decision in July 2026, with first gas targeted for 2028. The field contains more than 3 trillion cubic feet of gas initially in place and is expected to reach plateau production of about 500 million standard cubic feet per day, with the produced gas planned to be transported to Egypt's Zohr facilities for processing before being liquefied at the Damietta LNG plant for export, primarily to European markets. Halliburton is also bringing its technology portfolio to the project, including ZEUS IQ, LOGIX automation, OCTIV pumping controls and the integration of Sekal's closed-loop drilling capabilities.

TechnipFMC's subsidiary FMC Wellhead Equipment Sdn. Bhd. has received a significant integrated Engineering, Procurement, Construction and Installation contract from PETRONAS Carigali Sdn. Bhd. for the Limbayong deepwater project offshore Malaysia. TechnipFMC classifies significant contracts as those valued between $75 million and $250 million, and while the exact value was not disclosed, the award falls within that range. The company expects to recognize the award in its inbound orders in the third quarter of 2026. The greenfield development will use TechnipFMC's Subsea 2.0 configure-to-order platform, with the company providing iEPCI execution for the entire subsea scope. Jonathan Landes, president of Subsea at TechnipFMC, said the contract builds on the company's continued relationship with PETRONAS and that the integrated approach and Subsea 2.0 platform are aimed at improving project economics, accelerating delivery and enhancing project execution.

Halliburton Company has secured a bundled well construction and completions contract from Eni for the Cronos ultra-deepwater development in Cyprus's Block 6. The multi-year award covers integrated drilling, automation, and completions services supported by Halliburton's regional infrastructure. The company said the bundled scope highlights its ability to deliver integrated ultra-deepwater solutions that streamline operations, reduce interfaces, and enhance execution certainty for complex offshore gas developments in the Eastern Mediterranean. The win follows Halliburton's integrated well construction contract with TotalEnergies for the GranMorgu project in Suriname, adding another datapoint to its push into bundled international contracts. Halliburton's narrative projects $25.1 billion in revenue and $2.7 billion in earnings by 2029, requiring 4.0% yearly revenue growth and an earnings increase of about $1.1 billion from $1.6 billion today, while the most optimistic analysts assume revenue of about US$26.7 billion and earnings of around US$3.3 billion by 2029.

Baker Hughes Company and Venture Global, Inc. are expanding their collaboration through a new set of equipment orders tied to Venture Global's LNG growth plans. Under the award, Baker Hughes will provide 13 gas compression systems for Venture Global's Cloud Connector Pipeline project in Louisiana, along with four liquefaction blocks containing eight liquefaction modules to support additional LNG production capacity at the Plaquemines LNG facility. Venture Global, described as America's second-largest LNG exporter, has been working to increase the capacity of Plaquemines LNG to 58 million metric tons per annum, and the Cloud Connector Pipeline is an important part of that expansion strategy because the added capacity requires reliable access to natural gas supplies. Venture Global CEO Mike Sabel said Baker Hughes has been a trusted partner across the company's LNG developments, while Baker Hughes Chairman and CEO Lorenzo Simonelli said the company is proud to work alongside Venture Global as it expands Plaquemines LNG. The awards align with Baker Hughes' strategy to diversify beyond its traditional oilfield services business, following its acquisition of Chart Industries, and the inclusion of Chart cold boxes in the liquefaction award underscores the value of that deal. Baker Hughes will need to deliver sustained order growth and healthy margins across the combined business to justify the $13.6 billion price it paid for Chart Industries, while Venture Global faces financial and execution risks as its multi-billion-dollar expansion projects weigh on its balance sheet.

Saipem S.p.A. has secured a subsea contract worth approximately $350 million for work on Azule Energy's West Hub Tails project offshore Angola, part of the broader Agogo Integrated West Hub Development in Block 15/06, located roughly 180 km off the Angolan coast. Under the deal, Saipem will handle engineering and fabrication of subsea equipment and transport and install about 62 kilometers of flowlines, risers and umbilicals, tied back to the Agogo floating production, storage and offloading vessel. Offshore work will use the construction vessels FDS and Normand Maximus, while fabrication takes place at Saipem's Ambriz yard in Angola using local labor, with the contract expected to run nearly 2.5 years. The project extends the productive life of the Sangos, Ochigufu, Mpungi and Vandumbu fields by redirecting production from the Ngoma FPSO, which began operating in 2014 and is nearing the end of its design life, to the newer, lower-emissions Agogo FPSO. Azule Energy is a joint venture owned by Eni and BP.

Halliburton secured a bundled well construction and completions contract from Eni for the Cronos ultra deepwater development in Cyprus. The win has renewed focus on how this offshore work fits into the company's broader valuation, with bulls viewing it as fresh proof that Halliburton can still command complex offshore work. Halliburton's most followed narrative pegs fair value at $43.20, compared with the last close at $35.01, a 19% undervalued reading. The stock has cooled recently, down 2.32% on a 1-day basis and 5.56% over 7 days, though the year to date share price return of 18.28% and 1-year total shareholder return of 63.92% still point to longer-window momentum. The company's ongoing international diversification, growing faster in regions like Latin America, Africa, and the Middle East, and leveraging U.S.-style unconventional expertise, creates a larger, more stable revenue base and reduces earnings cyclicality.

Archer today launched Archer Evolv AI Compliance, a product that turns enterprise regulations and policies into policy as code delivered as approved Amazon Bedrock Guardrails, deployed natively inside the customer's own AWS account and enforced before a model responds to any prompt from an employee or an agent. The offering is powered by Archer's proprietary regulatory intelligence and 492 purpose-built models trained since 2017, drawing on 22 million regulatory documents, and is available today directly from Archer and in the AWS Marketplace. Enforcement runs as a continuous loop of Listen, Decide, Act, Assure and Learn, with every control traced back to the obligation that required it and every violation recorded in the customer's GRC system of record; no proxy sits in the inference path, and models outside Bedrock can apply the same control through the Amazon Bedrock Apply Guardrail API. The guardrails govern organizational obligations such as credentials and secrets, source code, confidential business information and customer-defined usage rules, as well as regulatory obligations including personal data under GDPR, CCPA and state privacy law, protected health information under HIPAA, payment and cardholder data under PCI DSS, and regulated categories such as export-controlled, securities and biometric data. Archer connects through one scoped, least-privilege AWS IAM role and reads guardrail configuration and events but never customer traffic, so prompt content, model responses, documents, embeddings, PII, model weights and training data never reach Archer, and native Bedrock guardrails continue enforcing as last deployed if connectivity is interrupted. Customers can introduce enforcement in stages through Observe, Advise and Enforce modes, with each version subject to approval and rollback, and Chief Product & Technology Officer Kayvan Alikhani said a guardrail is only as good as the obligation behind it, adding that Archer has already built that chain so customers do not have to.

Bristow Group reported second-quarter net income of $21.2 million, or $0.70 per diluted share, up sharply from $13.1 million, or $0.44 per share, in the first quarter, on total revenue of $411.8 million, up from $388.7 million, and adjusted EBITDA of $79.8 million, up from $59.3 million. The company closed its acquisition of Berry Aviation for $105.0 million in cash on July 13, adding special missions, intelligence and reconnaissance, maintenance and repair, training, unmanned aircraft systems development and on-demand cargo logistics to its Government Services segment, while affirming full-year adjusted EBITDA guidance of $295 million to $325 million. Offshore Energy Services, which generates the bulk of Bristow's business, saw revenue rise to $261.6 million from $254.3 million as operating margin expanded to 18% from 14%. Government Services revenue rose to $112.2 million from $107.9 million, but the segment swung to an operating loss of $2.1 million from operating income of $0.9 million, as aircraft availability penalties tied to supply chain challenges cost $3.6 million. Bristow ended the quarter with $312.3 million in unrestricted cash and $371.6 million in total liquidity, operating cash flow flipped positive to $41.1 million from negative $8.3 million, and the company declared a quarterly dividend of $0.125 per share on July 30, payable August 28.

Archer launched Archer Evolv Foundation and Archer Evolv Workplace, a governed digital workforce for governance, risk and compliance that runs inside the GRC system of record enterprises already use. Foundation is the shared AI intelligence layer holding every AI Operator inside existing controls and permissions, while Workplace is the marketplace where customers select governed Operators and assign them to their teams; both are in production with customers today. Dozens of Operators are already at work across Foundation, Audit, Third-Party Risk, IT Risk and Operational Risk, growing to more than 200 by the end of 2026 and more than 500 by the end of 2027. The platform draws on 492 purpose-built models, more than 22 million regulatory documents and 250 million GRC records, developed by more than 200 AI engineers and GRC domain experts, and in Archer's production evaluation of legislative effective dates it resolved 100% of cases where a leading general-purpose model was confidently wrong in a meaningful share of them. Chief Executive Officer Bill Diaz said Archer combines 25 years as the system of record for the world's most regulated enterprises with AI built for the domain since 2017, and Chief Product and Technology Officer Kayvan Alikhani said general-purpose AI starts with a prompt while enterprise GRC AI starts with context.

Baker Hughes has secured two major orders from Venture Global LNG to advance U.S. gas infrastructure, covering gas compression systems for the Cloud Connector Pipeline project in Louisiana and a modular liquefaction solution for the expansion of the Plaquemines LNG facility. The substantial pipeline award includes 13 gas compression systems driven by Frame 5/2E gas turbines and represents one of the largest deployments for LNG feed gas transportation in the United States, enabling feed gas transport through the Cloud Connector Pipeline to Venture Global's Plaquemines facility. Under the major liquefaction award, Baker Hughes will provide four liquefaction blocks, comprising a total of eight liquefaction modules, to support additional LNG production capacity at Plaquemines, with the blocks including Chart cold boxes. The Cloud Connector award is the second order of Frame 5/2E gas turbine-driven centrifugal compressor packages for Venture Global's feed gas pipeline, expanding the fleet to 23 Frame 5/2E-driven gas compression systems for the Plaquemines LNG facility. The awards deepen the companies' long-standing collaboration, supporting more than 100 MTPA of existing and planned LNG production capacity, and follow a similar liquefaction scope recently awarded for the CP2 project.

Matrix Service Company reported fourth quarter fiscal 2026 results on September 3, with revenue climbing 13% year over year to $244.5 million and adjusted earnings per share flipping to a positive $0.16 from a $0.28 loss a year earlier. The turnaround was led by Storage and Terminal Solutions, where revenue jumped 43% to $137.4 million on higher specialty vessel and LNG storage project activity, while Utility and Power Infrastructure margins improved to 12.8% from 9.1%. For the full fiscal year, revenue rose 14% to $873.6 million from $769.3 million and adjusted EPS came in at $0.26, up $1.19 from the prior year, with the company ending debt-free on $283.9 million in total liquidity and a $953.2 million backlog backed by a $7 billion opportunity pipeline in which LNG and NGL projects make up more than 40%. Not every segment pulled its weight: Process and Industrial Facilities revenue fell to $33.6 million from $47.3 million and its gross margin dropped to 2.9% from 5.9%, while total fourth-quarter bookings of $169 million left an overall book-to-bill of just 0.7. Restructuring costs of $3.4 million tied to executive transitions contributed to a $900,000 operating loss for the quarter, and longtime chief financial officer Kevin Cavanah is departing after 23 years, with AJ Smith stepping in as interim CFO effective September 10; because of that transition, Matrix is not providing forward guidance.

Solaris Energy Infrastructure raised its adjusted EBITDA guidance for the third and fourth quarters of 2026 and issued initial guidance for the first quarter of 2027, citing stronger contributions from its core power services business and better-than-expected performance from recently acquired businesses. The company now expects third-quarter 2026 adjusted EBITDA of $110 million to $130 million, up from a prior range of $90 million to $105 million, a 23% increase at the midpoint. For the fourth quarter of 2026, Solaris lifted guidance to $145 million to $180 million from $100 million to $120 million, a 48% increase at the midpoint, and set initial first-quarter 2027 adjusted EBITDA guidance of $200 million to $240 million. The update follows the company's September 2 announcement that it acquired Omega Foundation Services, a specialist in engineering, procurement and construction with heavy civil construction expertise across end markets including large-scale data centers. The stock has returned about 150% over the past 12 months and was up more than 25% year to date as of September 8, though it trades at roughly 86 times trailing earnings, well above the industry average, while short interest stood at 23.76% of the float as of August 14.

USA Compression Partners and its wholly owned subsidiary USA Compression Finance Corp. announced the pricing of a private placement of $600M in aggregate principal amount of 6.750% senior unsecured notes due 2035 at par. The offering is expected to close on September 18, 2026, subject to customary closing conditions. USAC estimates net proceeds of approximately $592.1M after deducting initial purchasers' discounts and estimated offering expenses. The Partnership intends to use the net proceeds to repay outstanding borrowings under its credit agreement and cover transaction-related fees and expenses.

Saipem S.p.A. has secured a new contract to provide commissioning services for the Osman Gazi floating production unit, which will be used in the development of the Sakarya natural gas field in the Black Sea. The contract, awarded by GOE Petrol Sanayi, is estimated to last eight months and adds to Saipem's earlier involvement in the project, including an Operation Readiness & Assurance support services contract awarded in April. The Sakarya field, operated by Turkish Petroleum Corporation, was discovered in August 2020 about 170 kilometers offshore Turkey in water depths of approximately 2,150 meters, and is one of Turkey's most significant natural gas discoveries. This award expands Saipem's role in a major offshore gas project and strengthens its presence in the Turkish market.

Solaris Energy Infrastructure Inc. (NYSE:SEI) extended its winning streak to a fourth consecutive day on Tuesday, jumping 16.29 percent to close at $63.96 after posting an optimistic growth outlook for the second half of the year. The company now expects third-quarter adjusted EBITDA in the range of $110 million to $130 million, up from its previous target of $90 million to $105 million, and representing growth of 62 to 91 percent from the $68 million reported in the same period last year. For the fourth quarter, it projects adjusted EBITDA of $145 million to $180 million, an implied jump of 110 to 161 percent from $69 million year-on-year, and it initiated guidance of $200 million to $240 million for the first quarter of 2027. The improved outlook reflects stronger contributions from core power services and better-than-expected performance from recently acquired businesses, including Omega Foundation Services and Global Energy Services Alliance. Hedge fund holdings in the company surged 32.7 percent to $1.3 billion in the second quarter, with 65 funds holding positions, up from 57 in the prior quarter.

Solaris Energy Infrastructure shares surged 16.5% after the company raised its Adjusted EBITDA guidance for the third and fourth quarters of 2026 and initiated guidance for the first quarter of 2027. The company now expects Adjusted EBITDA between $110 million and $130 million for Q3 2026, and between $145 million and $180 million for Q4 2026, with Q1 2027 guidance set at $200 million to $240 million. The improved outlook is attributed to strength in core power services and recently acquired businesses. Despite the jump, the stock remains 23.1% below its 52-week high of $82.88 from June 2026.

Solaris Energy Infrastructure shares rose 6% on Tuesday after the company raised its Adjusted EBITDA guidance for the third and fourth quarters of 2026 and issued an initial forecast for the first quarter of 2027. The company now expects Adjusted EBITDA of $110 million to $130 million for the third quarter, up from a prior range of $90 million to $105 million, and $145 million to $180 million for the fourth quarter, up from $100 million to $120 million. For the first quarter of 2027, Solaris forecasts Adjusted EBITDA of $200 million to $240 million. The improved outlook reflects stronger contributions from its core power services operations and better-than-expected performance from recently acquired businesses.

Solaris Energy Infrastructure raised its third-quarter adjusted EBITDA guidance to $110 million to $130 million from $90 million to $105 million, a 23 percent increase at the midpoint, and its fourth-quarter guidance to $145 million to $180 million from $100 million to $120 million, a 48 percent increase at the midpoint. The company also initiated first-quarter 2027 adjusted EBITDA guidance of $200 million to $240 million, implying continued sequential growth from the revised fourth-quarter outlook. Solaris said the upgraded guidance reflects stronger contributions from its core power services offerings and better-than-expected performance from its recently acquired businesses. Shares rose 6.9 percent in pre-market trading on Monday.

Baker Hughes Company announced on September 3 that it secured a multi-year contract with Pakistan's Oil & Gas Development Company to maximize production from mature oil and gas fields, though financial terms were not disclosed. Under the agreement, Baker Hughes will assess over 120 wells across OGDC's Tando Alam oil complex and Pirkoh field, then implement solutions including AI-enabled chemical injections and well workovers. Amerino Gatti, executive vice president of oilfield services & equipment, said the collaboration will help OGDC unlock untapped domestic energy supply. The contract aligns with Baker Hughes' strategy to diversify beyond drilling, as its Q2 orders surged 49% year-over-year to a record $10.5 billion, including $7.1 billion in industrial and energy technology orders. However, the company faces risks from Pakistan's challenging economic environment and potential declines in global upstream spending.

SLB announced on August 31 that it will acquire Kelvion from Apollo Global and funds advised by Triton for around $3.4 billion in cash plus the assumption of approximately $0.7 billion of debt, a total of $4.3 billion. The deal aims to expand SLB's data center business and capitalize on AI-driven demand for power and cooling infrastructure. Kelvion, which specializes in thermal management and heat exchange, will more than double SLB's revenue opportunity per gigawatt of delivered capacity. SLB expects the transaction to be accretive to earnings and free cash flow per share within 12 months and to generate about $120 million in annual EBITDA synergies within three years. The company reaffirmed its target to return more than $4 billion to shareholders this fiscal year, with the deal expected to close in the first half of 2027.

J&F Power Systems LLC, a controlled subsidiary of Jereh Group, has signed a gas turbine generator supply contract with a well-known international cloud service provider. The order is valued at 1.465 billion US dollars, equivalent to 9.832 billion yuan, accounting for 61.33 percent of the company's audited operating revenue for 2025. The company has received the first prepayment, and the order is scheduled for delivery in batches by 2027, with no impact on 2026 performance. The main contract is valid for five years, and the related equipment will be delivered before November 2027. Jereh Group said the two sides have cooperated multiple times in the field of data center power generation, and the order is progressing normally. In the first half of 2026, the company achieved operating revenue of 7.646 billion yuan, up 10.81 percent year on year, while net profit was 1.196 billion yuan, down 3.65 percent year on year.

Matrix Service Co returned to profitability in the fourth quarter of fiscal 2026, reporting adjusted earnings per share of $0.16 versus a loss of $0.28 in the prior-year quarter, with revenue up 13% to $244.5 million. The Storage and Terminal Solutions segment drove growth with a 43% revenue increase to $137.4 million, while gross margin improved to 8% from 3.8%. The company ended the year with $223 million in cash, no debt, and total liquidity of $283.9 million, and is evaluating a stock buyback. However, total project awards in Q4 were only $169 million, resulting in a book-to-bill ratio of 0.7, and backlog of $953 million is expected to be 70-80% worked off in fiscal 2027. CEO Sean Payne noted that a FEED contract for the America First refinery tank farm is due by the end of fiscal Q2 2027, with a potential lump-sum award in late Q3 or early Q4 2027, which could help rebuild backlog. The company is not providing financial guidance due to the CFO transition.

Solaris Energy Infrastructure, Inc. (NYSE:SEI) has acquired Omega Foundation Services, a leader in specialized engineering, procurement, and construction with expertise in heavy civil construction for large-scale data centers. The deal, funded by approximately $101 million in net cash, $28 million in debt and lease assumption, and about 3.6 million Class A Solaris shares, is expected to be immediately accretive to earnings and free cash flow per share. The acquisition expands Solaris's full-cycle power solutions to include early-stage site services, plant installation and commissioning, and electrical substation development, addressing a key industry bottleneck and opening new opportunities in data center, LNG, industrial, and government sectors. Co-CEOs Bill Zartler and Amanda Brock highlighted the two-year collaboration with Omega and expressed confidence in the team's execution capabilities, while also hinting at further business expansions in the coming months.

Subsea7 S.A. has announced a sizeable contract award from LLOG Exploration Company LLC, a subsidiary of Harbour Energy, for the Who Dat East development in the US Gulf of Mexico. The project, located in lease MC 509-1 at a water depth of approximately 1,300 metres, involves the fabrication, transportation, and installation of a 29-kilometre steel catenary riser and pipe-in-pipe to the Who Dat floating production system, along with the installation of umbilical and subsea controls. Project management and engineering will begin immediately at Subsea7's Houston, Texas office, with offshore activities expected to start in 2028. Subsea7 defines a sizeable contract as being between $50 million and $150 million.

Shares of offshore vessel operator Tidewater jumped 3.7% in afternoon trading after BTIG upgraded the stock from Neutral to Buy, citing increasing offshore activity expected to push dayrates higher across key basins. The upgrade follows Tidewater's completed acquisition of Wilson, Sons Ultratug Participações S.A. and Atlantic Offshore Services S.A., which added 22 platform supply vessels to its fleet. The shares were trading at $96.61, up 3.7% from the previous close, and have set a new 52-week high. Tidewater is up 85% since the beginning of the year, and investors who bought $1,000 worth of shares five years ago would now have an investment worth $8,423.

SLB N.V. has signed an agreement to acquire Kelvion, a global provider of thermal management and heat-exchange technologies, for approximately $3.4 billion in cash and the assumption of about $0.7 billion of debt, aiming to accelerate the expansion of its Data Center Solutions business. Kelvion is expected to generate approximately $2.3-$2.4 billion in revenues and $350-$400 million in adjusted EBITDA in 2026, with data centers representing its largest and fastest-growing end market, projected at $1.2-$1.3 billion in revenues. The acquisition broadens SLB's addressable market, with management expecting its revenue opportunity per gigawatt of delivered data center capacity to more than double. On a pro forma basis, SLB and Kelvion together are expected to generate more than $2 billion in data center revenues and approximately $300 million in adjusted EBITDA in 2026, with SLB targeting revenues of $4.5-$5 billion and adjusted EBITDA of $700-$800 million by 2028. The transaction is valued at roughly 11 times estimated 2026 EBITDA before synergies and about 8.5 times after expected synergies, with management expecting it to be accretive to earnings per share and free cash flow per share within the first 12 months after closing, and targeting approximately $120 million in annual EBITDA synergies within three years. The deal is expected to close in the first half of 2027, subject to regulatory approvals, and SLB reaffirmed plans to return more than $4 billion to shareholders in 2026.

SLB, the world's largest oilfield services company, announced it will acquire Kelvion, a cooling equipment manufacturer, from funds managed by investment firm Triton and Apollo Global Management for $4.1 billion, including debt. Amid the AI boom driving growing demand for power and cooling infrastructure, the acquisition aims to strengthen its data center business. The deal is expected to close in the first half of 2027, with SLB paying $3.4 billion in cash and assuming approximately $700 million in debt. As drilling demand in North America slows, oilfield service companies are expanding into businesses such as power equipment, turbines, and data-related solutions. SLB says this acquisition will more than double its revenue opportunity per gigawatt of supply capacity. It also expects revenue from its data center solutions business, including Kelvion, to reach $4.5 billion to $5 billion by 2028, with adjusted EBITDA of $700 million to $800 million.

Tidewater has completed its $500 million acquisition of Wilson, Sons Ultratug Participações and affiliate Atlantic Offshore Services, collectively known as WSUT, adding 22 platform supply vessels and significantly expanding its presence in Brazil. The deal closed on August 31, with Tidewater paying approximately $283.1 million in cash and assuming roughly $229.3 million of existing debt, subject to post-closing adjustments. The acquisition boosts Tidewater's Brazilian fleet from six to 28 vessels and increases its global offshore support vessel fleet to 213, with a total fleet of 231 vessels. CEO Quintin Kneen said the acquired vessels complement the existing fleet and provide additional scale in Brazil, a key offshore market. The transaction, first announced in February, received all required regulatory approvals, including from Brazil's antitrust authority, and comes amid strong offshore activity and day rates, with Tidewater reporting an average day rate of $22,938 in the second quarter of 2026.

SLB, the global energy-technology heavyweight, surged about 3.4% to $59.30 Monday morning after announcing a $3.4 billion cash deal to acquire thermal-management specialist Kelvion, assuming roughly $700 million of debt. The acquisition values Kelvion at about 11 times estimated 2026 EBITDA before synergies and 8.5 times after them, with management expecting $120 million in annual EBITDA benefits within three years. SLB forecasts the combined data-center business to generate over $2 billion in revenue and about $300 million in adjusted EBITDA in 2026, aiming for $4.75 billion in revenue and $750 million in EBITDA by 2028. The stock trades 30.07% above its GF Value of $45.59, reflecting high investor expectations for execution.

SLB has agreed to acquire Kelvion, a thermal management and heat-exchange technology provider, for approximately $3.4 billion in cash plus the assumption of about $700 million in debt, with the deal expected to close in the first half of 2027. The acquisition, from Apollo Global Management and Triton, aims to strengthen SLB's position in the rapidly growing AI and data-center cooling market. SLB expects the combined data-center businesses to generate $4.5 billion to $5 billion in revenue and $700 million to $800 million in adjusted EBITDA in 2028, and projects about $120 million in annual EBITDA synergies within three years. The company says the transaction will be accretive to earnings and free cash flow per share within the first 12 months, and it reaffirms its commitment to deliver more than $4 billion in shareholder returns in 2026.

Chevron and Halliburton are nearing deals that could bring billions of dollars of investment into Venezuela's oil industry, as the Trump administration pushes U.S. energy companies to help rebuild the country's oil sector. Chevron is close to adding two heavy-oil fields to its Venezuelan portfolio, where it already operates three joint ventures with state-owned Petróleos de Venezuela, while Halliburton is in discussions to supply equipment and oilfield services. Executives from several oil and gas companies are expected to travel to Caracas next week to sign production agreements, with Energy Secretary Chris Wright also expected to attend. The potential deals follow earlier agreements by Hunt Oil and SLB, and come amid reports of a broader U.S.-Venezuela arrangement involving majority U.S. control of more than 65 billion barrels of Venezuela's proven oil reserves. ExxonMobil and ConocoPhillips remain on the sidelines, seeking restitution for assets nationalized in 2007.