FMC Technologies

In May, U.S.-based oilfield services company FMC Technologies announced they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion (see FMC Technologies & Technip to Merge, Create $13B Oilfield Giant). FMC had/has some operations in the Marcellus/Utica, hence the merger has implications for our region. The Obama Dept. of Justice approved the deal in June (see FMC Technologies/Technip Merger Approved by Obama DOJ/FTC). Apparently it’s A.O.K. for a French company to buy an American company, but when one American company (Halliburton) wanted to buy another (Baker Hughes), that wasn’t OK with the Obamadroids (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But we digress. Following months filling out “Mother May I?” forms, the deal is now done. Yesterday the two companies consummated their merger and the former Technip and FMC Technologies have now become TechnipFMC…
Read More “Fat Lady Sings – Technip & FMC Now TechnipFMC”

In May, U.S.-based oilfield services company FMC Technologies announced they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion (see FMC Technologies & Technip to Merge, Create $13B Oilfield Giant). FMC had/has some operations in the Marcellus/Utica, hence the merger has implications for our region. The Obama Dept. of Justice approved the deal in June (see FMC Technologies/Technip Merger Approved by Obama DOJ/FTC). Apparently it’s A.O.K. for a French company to buy an American company, but when one American company (Halliburton) wanted to buy another (Baker Hughes), that wasn’t OK with the Obamadroids (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But we digress. The European Union, like the Obama DOJ, also gave its blessing on the deal. The shareholders for the two companies voted yesterday to consummate the marriage. The only thing left now is for the fat lady to sing, which appears will happen early in 2017 (likely January). The date of the official merger will be known on Dec. 21…
Read More “Technip, FMC Shareholders Approve Merger; Fat Lady Sings in Jan?”

In May, U.S.-based oilfield services company FMC Technologies announced they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion (see FMC Technologies & Technip to Merge, Create $13B Oilfield Giant). FMC had/has some operations in the Marcellus/Utica, hence the merger has implications for our region. The Obama Dept. of Justice approved the deal in June (see FMC Technologies/Technip Merger Approved by Obama DOJ/FTC). Apparently it’s A.O.K. for a French company to buy an American company, but when one American company (Halliburton) wanted to buy another (Baker Hughes), that wasn’t OK with the Obamadroids (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But we digress. The European Union, like the Obama DOJ, has now given its blessing on the deal. The shareholders for the two companies will vote next week on the merger, to make it official. Apparently management for the two companies thinks the deal is already in the bag because they’ve released a list of board members for the newly combined company…
Read More “Technip, FMC Believe Merger is in the Bag, Release Board Mbr List”

In May, U.S.-based oilfield services company FMC Technologies announced they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion (see FMC Technologies & Technip to Merge, Create $13B Oilfield Giant). FMC had/has some operations in the Marcellus/Utica, hence the merger has implications for our region. The Obama Dept. of Justice approved the deal in June (see FMC Technologies/Technip Merger Approved by Obama DOJ/FTC). Apparently it’s A.O.K. for a French company to buy an American company, but when one American company (Halliburton) wanted to buy another (Baker Hughes), that wasn’t OK with the Obamadroids (see (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But we digress. On Dec. 5 shareholders in both companies will vote on the deal. If they vote “yes,” as it expected, the deal with close and the two will have their nuptials in early 2017…
Read More “Technip & FMC Technologies Shareholders Vote Dec 5 on Merger”

The ongoing low price for oil and gas is profoundly changing the drilling landscape under our feet. In what some might call a marriage of convenience we would call a marriage of desperation: U.S.-based oilfield services company FMC Technologies announced yesterday they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion. FMC had/has some operations in the Marcellus/Utica, hence this merger has implications for our region. The new venture would be bigger than Baker Hughes and would rival and compete with the world’s two largest oilfield services companies: Schlumberger and Halliburton. Technip specializes in engineering and construction, while FMC specializes in offshore equipment and systems. The immediate question becomes, will Europe, the U.S. and other counties that opposed the Halliburton/Baker Hughes merger also oppose this one? Prevailing thought by analysts is that this merger will have a much easier path because the two companies have very little overlap in the current services they offer…
Read More “FMC Technologies & Technip to Merge, Create $13B Oilfield Giant”