Check out some interesting headlines around the industry from the past week.
Convergence Impact on Oilfield Services - Disrupting a $250 Billion Market (PR Newswire)
"As low oil prices give way to dwindling profit margins, strategies dictate organizations to curb inefficient practices and replace them with technologically advanced smart solutions. Connected oilfield services facilitate reduced drill time and increased productivity. The digital transformation has shifted focus to chasing efficiencies from the traditional one of chasing barrels. Business model disruptions to sell performance instead of equipment have taken over, as analytics becomes a strong part of the automation portfolio. The ICT industry has taken a leap of faith with the introduction of cognitive technologies through virtual assistants in oilfield services, taking artificial intelligence applications to a higher level." Read more
Rubicon Oilfield International Acquires Tercel Oilfield Products (PR Newswire)
"Rubicon Oilfield International ("Rubicon") announced today that it has acquired Tercel Oilfield Products ("Tercel"), an oilfield products company recognized for delivering valuable drilling and completion technologies, from Lime Rock Partners. Terms of the transaction were not disclosed. This transaction establishes Rubicon's global platform for delivery of well construction solutions. Backed by a significant capital commitment from Warburg Pincus, a leading global private equity firm, Rubicon will invest in the accelerated growth of Tercel product lines, enabling Tercel employees around the globe to deliver even greater value to their customers." Read more
Kobelco Construction Machinery USA Appoints Hopkins Equipment as Ontario Dealer (Construction Equipment Guide)
"Kobelco Construction Machinery USA continues to expand representation in the North American market by adding Hopkins Equipment to its growing dealer network. Hopkins Equipment will represent Kobelco 's full line of excavators in Eastern Ontario." Read more
Caterpillar Ready to Move Into Cuban Market Once Embargo Lifted: CEO (Reuters)
"Caterpillar Inc, the world's largest maker of heavy equipment, is ready to move swiftly into the Cuban market once the U.S. trade embargo is lifted, Chief Executive Doug Oberhelman said on Wednesday after meeting with Cuban ministers in Havana. The detente between the United States and Cuba has raised hopes that full commercial ties will soon be restored between the former Cold War foes." Read more
Chubb Advisory Warns Construction Industry of Increased Risk of Cyber Threats (Construction Equipment)
"Chubb has issued an advisory entitled New Business Models, Technology Raise Professional Liability Risks for Contractors, outlining the risk of cyber threats associated with new technology used in the construction industry. Even if all the technology your company uses is email and texting, this advisory is important to you." Read more
