North

A sharp decline in North American land activity hurt Schlumberger Ltd.’s revenues and earnings in the first quarter, but the worst days may be ahead, CEO Paal Kibsgaard said Friday. North American revenues likely will fall further in the second quarter, and visibility on where the bottom is remains murky.

A tall new cost hurdle has popped up on the path of liquefied natural gas (LNG) exports from British Columbia (BC), in the form of a restrictive ruling Wednesday by Canada’s National Energy Board (NEB) on pipeline tolls.

A sharp decline in North American land activity hurt Schlumberger Ltd.'s revenues and earnings in the first quarter, but the worst days may be ahead, CEO Paal Kibsgaard said Friday. North American revenues likely will fall further in the second quarter, and visibility on where the bottom is remains murky.

With commodity prices rapidly changing and technological advances escalating, BP plc’s economists on Thursday published an updated forecast of the likely path of global energy markets to 2035, less than two months after issuing the initial outlook.

Houston super independent Apache Corp. has knocked $2 billion out of its capital spending plans for North America this year and slashed its rig count to wait on higher commodity prices and lower service costs.

March natural gas is expected to open 3 cents higher Tuesday morning at $2.63 as traders note some positive adjustments to near-term temperature outlooks. Overnight oil markets rose.

The 23rd entry in the Canadian lineup to break into global trade in liquefied natural gas (LNG) plans to ship a blend of domestic and U.S. production out into the Atlantic from a new Quebec terminal.

Schlumberger Ltd. is working “actively” with North American customers to lower drilling costs and to renegotiate contracts, with a big push toward technology and efficiency offerings, CEO Paal Kibsgaard said Friday.

February natural gas is set to open 5 cents lower Wednesday morning at $3.04 as traders focus on a government inventory report that is expected to show sharply reduced gas usage. Overnight oil markets continued to tumble.