Bj Services Inc News

Mud, Mud, Mud. Liquid mud is the name of the game in the design of today's offshore service vessels. The drilling rigs not only want huge volumes of mud, but they want the vessels that serve them to be able to carry several different types of liquid mud. That means two or three separate piping and pumping systems to keep the mud from cross contamination. That also increases demands for automated control and alarm systems, many of which utilize touch screen controls. The rigs also need dry bulk cement, barite and other such products, so dry bulk tanks with 6,000 or so cu. ft. of capacity would be desired. Many rig owners would also like the vessels to carry methanol and…

Drilling and oilfield service stocks fell sharply on Thursday after offshore driller Rowan Cos. Inc. said the business outlook for the third quarter of this year was uncertain. A fall in the price of crude oil also contributed to price weakness in the sector. In early afternoon trading Rowan's stock was off $1.83, or 8.9 percent, at $18.74. Other big losers among drilling and oilfield service stocks included Global Marine Inc. - off $1.11 at $16.10 - Transocean Sedco Forex Inc. - down $2.14 at $37.21 - BJ Services Inc. -- $1.75 lower at $23.35 - Smith International Inc. - down $3.13 at $54.45. The losses for these companies' stock prices ranged anywhere from 5 to 7 percent.