Global oil field services co. anticipates multibillion-dollar blow to its assets

TechnipFMC (NYSE: FTI) is anticipating a $2.4 billion hit to the value of its assets when it releases its fourth-quarter and 2019 reports on Feb. 26, according to a Feb. 10 press release.

The international oil field service giant pointed to lower crude oil prices and an evolving geopolitical outlook, and said it’s writing down the value of its subsea assets by a total $1.7 billion and is decreasing the estimated value of its onshore assets by $700 million.

In January, Paris-based TechnipFMC hired…