</p><p >First, Kat Schmidt details Hess' lawsuit against Schlumberger, whose allegedly flawed subsurface valves led to production losses and tens of millions in repairs at the Tubular Bells project in the Gulf of Mexico.</p><p >Then Noah Brenner gives us the low down on Baker Hughes' plans to resurrect BJ Services as a pressure pumping pure-play, while Weatherford indefinitely shuts down its own fracking operations.</p><p