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Schlumberger exits shale sector, sells U.S. fracking assets to Liberty Oilfield Services

first_imgSchlumberger exits shale sector, sells U.S. fracking assets to Liberty Oilfield Services FacebookTwitterLinkedInEmailPrint分享Bloomberg:Schlumberger has become the biggest oil-service industry player yet to abandon frack work in North America, a sign that activity in the U.S. shale patch may never revisit previous highs.The provider of drilling and oil-production equipment agreed to sell its U.S. and Canadian fracking business to smaller rival Liberty Oilfield Services Inc. After similar exits over the past few years by Baker Hughes Co. and Weatherford International Plc, Halliburton Co. is now the sole global provider of well completions for shale, and even Halliburton has said it’s looking overseas for better growth.For Schlumberger, the world’s top oilfield-services company, the deal is a massive reversal from its North American buying binge over the past few years, which added frack-sand mines, artificial-lift technology and Weatherford’s frack fleet. For Liberty, meanwhile, buying Schlumberger’s OneStim unit in exchange for a 37% stake in the company means the oilfield contractor will more than double the size of its frack fleet in a market that has sidelined three-fourths of U.S. crews this year.OneStim helps customers extract oil and gas from shale wells by blasting water, sand and chemicals underground to release trapped hydrocarbons. When combined with horizontal drilling, fracking launched the shale boom more than a decade ago. But now an historic crash in oil prices along with a glut of fracking gear has triggered a crisis that’s driven some frackers into bankruptcy.The combination with OneStim, which is expected to close in the final three months of this year, will make Liberty the second-biggest U.S. fracker with 2.3 million horsepower, according to Citigroup Inc.Schlumberger’s sale comes less than three years after it acquired Weatherford’s fracking unit for $430 million. Liberty said Tuesday it plans to scrap 1 million horsepower — essentially the former Weatherford fleet — amid an industrywide glut. As shale explorers heeded investor calls to rein in spending, fracking demand has dwindled. Beginning late last year, frack providers took the unusual step of scrapping much of their idle equipment.[David Wethe]More: Shale loses another global giant after Schlumberger’s frack salelast_img read more

Go Outside and Play Guide: Winchester, Virginia

first_imgAFTERNOON LOCAL TIP: Outstanding mineral water abounds in our mountains – free always-running spouts can be found off Rt 55 near Eagle Rock or off Wardensville Grade near Pembroke Springs. Afternoon brings you back down the mountain. As you descend, drop by Richard’s Fruit Market for a refreshing homemade peach milkshake or Marker-Miller Orchards for some famous apple cider donuts, baked on-site daily. Then detour to Winchester Ciderworks for fresh UK-style hard cider fashioned in a century-old barn out of apples grown on site. Head back into town to check into the George Washington, A Wyndham Grand Hotel, in the heart of Old Town Winchester, which puts you just feet from a variety of local restaurant options. Or, if you’d like to truly get away, stay at the luxury Inn at Vaucluse Spring or Japanese-themed Pembroke Springs Retreat, both outside of town.  MORNING MORNING DAY ONE Head out to kayak on the nearby Shenandoah River or Potomac River in Harper’s Ferry, stay local and hike the Third Battle of Winchester trails, or go on a guided biking adventure arranged by Element Sports. The perfect base camp awaits for your next Shenandoah Valley adventure. Winchester has a thriving Old Town walking mall with 20+ local restaurants, 4 walkable craft breweries, and an up and coming art scene, not to mention a great outdoor outfitter, surrounded by 275 years of history. All of this within easy reach of hiking, biking, and kayaking for every skill level. DAY TWO Sleep in on your second morning and have brunch at Region’s 117, Oak Stone Pizza, or the Village Square Restaurant in Old Town.center_img AFTERNOON Make sure to check out the showtimes at the popular Family Drive-In Theatre in nearby Stephens City and catch a flick under the stars. Get there a little early on Saturdays as the cars line up! If you didn’t spend the previous evening exploring in Old Town, this is a must-do today. Stop by Winchester Brew Works for one of their hiking-themed beers and check the showtimes at the Bright Box Theatre for live music, comedy, and more. Or for a paranormal experience, book an Apparition Trail ghost tour, available nightly in Old Town. Save time for a nightcap and live jazz at the Half Note Bar in the George Washington Hotel. EVENING EVENING Morning in Old Town warrants a walk to breakfast at the quirky but tasty Steamy’s Café or laid-back Hideaway Café. A short drive gets you to the local favorite Bonnie Blue Southern Market & Bakery. Stop by Mountain Trails Outfitters on the Old Town Walking Mall for any last-minute equipment or supplies, then head west to the Eagle Rock Trailhead on the Tuscarora Trail. You can take a short 15-minute hike to the namesake overlook, or continue on for more beautiful views. This is a 252-mile bypass route of the AT, so you can hike as far or as short as you’d like. You can grab a great to-go lunch from Shaffer’s BBQ and Market or West Oaks Farm Market, both on the way.last_img read more

Colombia Ready To Send Troops To Afghanistan

first_img “We have negotiations underway with the Afghanistan government to guarantee the immunity of our soldiers, an immunity equivalent to that enjoyed by soldiers from other countries participating in the anti-terrorist effort in Afghanistan,” Gabriel Silva told reporters in the U.S. capital. The minister offered no details about how many Colombian soldiers would be sent to Afghanistan or when they would go, though he did say they would take part in tasks related “clearing minefields, humanitarian aid, training special forces and fighting drug trafficking in Afghanistan.” By Dialogo February 15, 2010 The Colombian soldiers will join the more than 80,000 military personnel serving with the International Security Assistance Force in Afghanistan, the defense minister said. The deployment of Colombian troops, he said, will be done at “the first window of opportunity that comes up” after the international judicial and logistical matters are settled. “That is the only obstacle still pending,” Silva said as he was leaving a meeting with Sen. Chris Dodd (D-Conn.) during his week-long state visit to Washington. He said that “the responsibility of collaborating with other countries is inherent to being part of the international community,” and if Colombia “wants to receive support, solidarity and cooperation, it has to give them as well.” Silva said that Colombia has in force more than 150 collaboration pacts in the fields of security and defense, and is also taking part in a number of international forums to do with humanitarian aid and development, as is the case with earthquake-stricken Haiti. Under Plan Colombia, Washington has provided nearly $7 billion in mainly military aid to Bogota since 2000. Chris Dodd is one of several prominent senators who have called for a re-evaluation of the program, citing human rights abuses and the lack of impact on the street price of cocaine. Silva began a visit to Washington on Monday to lobby Congress and the U.S. government for the continuity of U.S. aid in the counter-narcotics initiative known as Plan Colombia and the approval of a bilateral trade pact negotiated during the Bush administration. Colombia is ready to contribute troops to the NATO-led security force in Afghanistan, the Andean nation’s defense minister said here. last_img read more

Survive your competitors’ advances

first_img 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Your competitors are trying to slice up your business by relentlessly targeting specific aspects of consumers’ financial lives, says John Best, president of Best Innovation Group, during a breakout session at the CUNA Lending Council Conference Monday.To survive in the new world of unbundled services and niche apps, Best says, credit unions must truly commit to digital services, big data analytics, and innovation.“Digital is not a product. You have to change the essence of who you are. Analytics is not a product. It’s a discipline. Innovation is a fruit, not a goal,” says Best.Best further encourages credit unions to:Be mobile. Brick and mortar branches still matter, but your credit union must also offer mobile service options. continue reading »last_img read more

CU membership surpasses 120M

first_imgNAFCU continue reading » Membership at federally-insured credit unions reached 120.4 million – representing 3.6 percent growth over the year – according to the NCUA’s fourth quarter call report data. In addition, assets rose $113 billion over the year and ended the fourth quarter at $1.57 trillion.“As more Americans turn to credit unions for financial services, the industry needs an appropriate regulatory environment to ensure they can continue providing the best products and services to members,” said NAFCU Chief Economist and Vice President of Research Curt Long. “The NCUA at its MDI Forum earlier this week showed its commitment to reaching underserved communities, and NAFCU will continue to work with the agency and Congress on key issues to ensure credit unions can thrive and meet their mission of serving those in need.”Here are highlights of the NCUA’s 2019 fourth quarter call report data:loans outstanding increased 6.2 percent to $1.1 trillion, up from $1 trillion a year ago;center_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

IASS trustees granted 25 years to address €770m deficit

first_imgTrustees for the underfunded Irish Airlines Superannuation Scheme (IASS) have been granted up to 25 years to address the deficit, according to one of the fund’s main sponsors.In a statement to the Irish Stock Exchange, Aer Lingus said the Pensions Board had “communicated to the IASS trustee” that it expected the fund to comply with the minimum funding standard within 25 years, following initial discussions that saw a request for a 70-year recovery period reportedly rejected by the regulator’s chief executive Brendan Kennedy.However, the 25-year window seemingly granted to the IASS is significantly longer than the deadline for other Irish defined benefit schemes, which need to comply with the reinstated MFS and new 10% risk reserve by 2023.The statement by Aer Lingus added that the 25-year deadline had “imposed constraints” on the trustees, resulting in benefit cuts of 11-25% and higher return assumptions of 5% per annum for its recovery plan to address the current €769m deficit. Offering details of the fund’s proposed investment strategy, the statement added: “The IASS trustee has proposed a cessation of IASS benefit accrual and a liability-driven investment strategy underpinned by investment in a fixed income portfolio targeting a yield of 5% per annum.”The Irish flag carrier also said it would “continue to engage in discussions with the IASS trustee regarding the proposed investment portfolio and benefit reductions”.However, it stressed: “It remains the responsibility of the IASS trustee to submit an appropriate proposal to the Pensions Board to address the funding difficulties in the scheme.“The company, therefore, expects the IASS trustee to move forward with the submission of this proposal as soon as is practicable.”Aer Lingus said agreement with the Board represented a “crucial preliminary step” prior to “other key steps”, a reference to its need to approach shareholders with a proposal to set up a new defined contribution (DC) fund for workers affected by the IASS benefit cuts.The airline’s statement comes days after union IMPACT condemned the suggested benefit cuts after both companies involved in the multi-employer IASS and employee representatives were briefed on the trustee’s latest proposals.last_img read more

‘Report it, it’s a crime’: Couple filmed having sex beside State Highway 1 in Dunedin

first_imgNZ Herald 18 December 2017Family First Comment: There’s a time and a place!!Police are urging anyone who witnesses offensive behaviour to report it to authorities after an explicit video of a man and woman having sex on the side of State Highway 1 emerged online.Leaning on a sculpture beside the Jetty St over bridge in Dunedin, the pair continue to engage in sexual relations even after being filmed.The filmers can be heard egging on the man who waves back.Filmed at the intersection of Jetty St and State Highway 1, the road is the main route heading north from Dunedin.The incident is believed to have happened in the early hours of morning and the video appears to show both people under the influence of alcohol or drugs.National director of Family First Bob McCoskrie told the Herald there was a time and place for sexual activity but not in public, and “definitely not where families and children are passing by”.“This couple are showing complete disrespect for both themselves and for the general public. Families should definitely report this type of behaviour to the police. Public indecency is still – and should be – a crime.”READ MORE: Group who filmed nude woman running around Parnell carpark labelled disrespectfulNZ Herald 17 December 2017A group of young men who videoed a naked and incoherent woman running around an Auckland park have been condemned for their actions.Herald readers have hit out at the group, labelling the decision to film the woman instead of helping her disrespectful and abhorrent.And Family First says the group’s actions were disappointing.The video emerged on social media late last week. The woman with long brown hair does not appear to be coherent and is seen racing around a carpark in Parnell on Wednesday evening.Family First national director Bob McCoskrie said it appeared that the distressed and incapacitated woman in the video needed practical help, not a social media campaign.“It’s disappointing that the public didn’t call for help and didn’t offer help if, and where, possible.”READ MORE: read more

Batesville man arrested on drug charge

first_imgDECATUR COUNTY, Ind. — A Batesville man has been arrested after a traffic stop on Inertsate-74 in Decatur County.According to police, William Burchfield, 32, was arrested on charges of Possession of Marijuana.Police say they saw a pickup truck driving without a front bumper on I-74.The officer initiated a traffic stop and smelled the odor of Marijuana.During a search of the vehicle, officers found a baggie of plant-like material and three partially burned hand-rolled cigarettes.last_img

Reply gets Tipperary chance

first_img Press Association Aidan O’Brien’s charge was good enough to finish third behind Power in the Irish 2,000 Guineas last year, but his form tailed off since and he was last seen when last in the Golden Shaheen in Dubai last month. The Ballydoyle handler is evidently looking for a confidence-boosting win and it will be disappointing if he cannot account for his rivals in the Follow Tipperary Races On Facebook Race Former Classic-placed colt Reply takes a big drop in class at Tipperary as he seeks his first success in 19 months.center_img O’Brien also sends Line Drummer to the track for the Fundraising Events At Tipperary Races Handicap and he will be aiming to pick up where he left off after winning a heavy-ground heat over course and distance at the end of last term. He may lack the edge over recent Limerick scorer Diesel Ten and Caesaria, who backed up his Curragh triumph with a third placing at Naas. There could be several duels between O’Brien and Dermot Weld on the card – choicely bred newcomers Freewheel and Resolute Response lock horns in the Events At Tipperary Racecourse Maiden, while Weld’s recent Naas victor Pay Day Kitten tackles the O’Brien-trained Kingdom in the Follow TipperaryRaces On Twitter Handicap. However, Kingdom was put in his place by Jim Bolger’s Morning With Ivan when the pair clashed at Leopardstown and a 5lb pull in the weights may not be enough for him to gain his revenge. O’Brien sends two for the Book Online At Maiden, with newcomer Victory Song joined by Agreement. Hurricane Sky and Benalex Park both won at Gowran over the weekend and now clash under 5lb penalties in the Handicap, while The Four Elms is aiming to supplement a Limerick win in the Youth Raceday On 6th June Handicap. last_img read more

Shaw set to complete United switch

first_img Shaw will be competing with Patrice Evra for the left-back role at Old Trafford, but is understood to have been told he will be first choice despite competition from the France international. Evra penned a one-year contract extension in May and last season’s back-up Alexander Buttner looks set to move to Dinamo Moscow imminently, joining Rio Ferdinand and Nemanja Vidic in leaving as the club look to kick on after a miserable season. United limped to a seventh-place finish last term, resulting in David Moyes losing his job and Holland coach Louis van Gaal coming in as his replacement. Shaw will become the second major arrival since the Dutchman’s appointment, following Ander Herrera’s move from Athletic Bilbao on Thursday. The 18-year-old has established himself as a top talent after coming through Southampton’s fabled academy. Shaw has attracted admiring glances from many, including boyhood club Chelsea, but Press Association Sport understands it is United that have won the race for his signature. Press Association The left-back underwent a medical at the club’s Carrington training ground on Thursday evening ahead of a move worth £27million plus add-ons – a lofty price tag comes thanks to his fine performances for club and now country. Despite not turning 19 until July 12, Shaw has already racked up 60 appearances in the Barclays Premier League and three England caps. The full-back made his Three Lions debut in the friendly against Denmark in March and usurped idol Ashley Cole in Roy Hodgson’s pecking order, leading the experienced left-back to call time on his international career. The 18-year-old was one of few positive points from a miserable World Cup campaign and became the youngest player to feature at the tournament when he started Tuesday’s goalless draw with Costa Rica. After that match it was put to Shaw that he perhaps needed to be playing Champions League football to feel comfortable on the world stage. That kind of experience would not come if he was to move to United this season – but was not something he deemed particularly important to being a success with England anyway. “You can’t really say that because you look at the other teams and they haven’t all got Champions League players, have they?” Shaw said. “I don’t know. Obviously Champions League would help, playing against world-class players, but you can’t just say that because you look at other teams that have gone through the groups and they haven’t got all Champions League players.” Luke Shaw is expected to complete his move to Manchester United on Friday in a deal understood to be worth in excess of £27million. last_img read more