$BANC's current Chair of the Joint Audit Committee of the BoD, Robert D. Sznewajs will assume the new role of Chairman of the BoD. He replaces Steven Sugarman who resigns from his role as Chairman and CEO.
$LCI announced that the company voluntarily made a $75MM payment
against its existing revolving credit facility. This payment will save $LCI approximately
$4.1MM in annualized cash interest expense, at current rates.
$HAL said that for 2017, the company expects CapEx to be $1Bil, which includes reactivating cold-stacked pressure pumping equipment and continuous conversion of the hydraulic fracturing fleet to Q10 Pumps to support the company's surface efficiency strategy. The company also expects D&A to be about $1.4Bil for 2017.
In Europe, Africa and CIS, $HAL's 4Q16 revenue fell 9%, with a decrease in operating income of 5%. Conversely, in the Middle East, Asia region revenue rose 10%, with a increase in operating income of 32%.