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U.S. OFS Jobs Seen ‘Fairly Flat’ as E&Ps Shift from Production Growth

U.S. OFS Jobs Seen ‘Fairly Flat’ as E&Ps Shift from Production Growth

Employment in the U.S. oilfield services (OFS) sector ticked up in May as growth in support roles and equipment fabrication offset declines in extraction, pipeline construction and manufacturing, according to estimates by the Energy Workforce & Technology Council. The sector grew by 1.6% in May, racking up an additional 9,707 jobs over April, according to…

June 18, 2021
H&P’s North American Rig Count Doubles in December from August Lows

H&P’s North American Rig Count Doubles in December from August Lows

Tulsa-based global drilling giant Helmerich & Payne Inc. (H&P) said its North American rig count climbed by one-third sequentially and at the end of December was twice the lows experienced last August. The oilfield services (OFS) driller, whose portfolio is defined by drilling innovations, ended December with 94 rigs in operation across North America. That…

February 11, 2021
Halliburton Advancing Digital Supply Chain in Another Collaboration with Accenture

Halliburton Advancing Digital Supply Chain in Another Collaboration with Accenture

Halliburton Co., the largest Lower 48 completions expert, is accelerating its digital supply chain and extending it into manufacturing in another collaboration with consultancy Accenture. The Houston-based oilfield services (OFS) giant has been working to advance digital deployment and integrate its systems across the value chain to enhance customer service. Plans now are to launch…

December 2, 2020
FTS Joins Expanding List of Oil, Gas Operators Seeking Chapter 11

FTS Joins Expanding List of Oil, Gas Operators Seeking Chapter 11

Top Lower 48 completions expert FTS International Inc. has launched a prepackaged restructuring plan with the support of most of its lenders in a debt-for-equity swap to delever the balance sheet.  Following a restructuring support agreement filed in August, FTS issued an amended plan that received support of nearly 88% of the debtholders. With the…

September 24, 2020
Look Beyond 2Q2020’s ‘Atrocious’ Earnings Results in E&P, OFS Sectors, Say Analysts

Look Beyond 2Q2020’s ‘Atrocious’ Earnings Results in E&P, OFS Sectors, Say Analysts

Natural gas and oil operators may prefer to talk about 2021 than second quarter performance as earnings season begins, with low commodity prices and Covid-19 literally sucking the energy out of the room. Halliburton Co. kicked off earnings season for the oilfield services (OFS) sector on Monday, with the deluge of results to follow from…

July 22, 2020
Covid-19 Still Battering Canada’s OFS, Supply Sectors With Job Losses

Covid-19 Still Battering Canada’s OFS, Supply Sectors With Job Losses

Employment continued to shrink during June in Canadian oil and natural gas fields, with service and supply contractors suffering the deepest losses, according to the industry’s workforce monitoring agency. Cuts of 5,600 field personnel accounted for 84% of 6,700 layoffs recorded last month by Calgary-based Petroleum Labor Market Information (PetroLMI) from Statistics Canada surveys. The…

July 14, 2020
Oil, Natural Gas Activity Across Louisiana, New Mexico and Texas Still Grim, Says Dallas Fed

Oil, Natural Gas Activity Across Louisiana, New Mexico and Texas Still Grim, Says Dallas Fed

Oil and natural gas activity has declined further in the second quarter across Louisiana, New Mexico and Texas, according to a survey by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is known, every quarter surveys energy executives across the Eleventh District, which encompasses northern Louisiana, most of New Mexico and Texas,…

June 24, 2020
Bruised OFS Sector Offering E&P Price Concessions, Staff and Salary Cuts, but Is It Enough?

Bruised OFS Sector Offering E&P Price Concessions, Staff and Salary Cuts, but Is It Enough?

The oilfield services (OFS) sector was under pressure before the oil price war was launched and Covid-19 became a pandemic, but the future of many companies appears to hang on a thin thread, battered by the outbreak and plunging oil market. One analyst predicted up to one million jobs could be lost, mostly in the onshore sector.

March 25, 2020
OFS Likely Off to Slow Start in 2019 on Falling Oil Prices

OFS Likely Off to Slow Start in 2019 on Falling Oil Prices

The oilfield services (OFS) sector, slowly returning to normal following the downturn four years ago, now faces more uncertainty, as oil prices continue to decline and Lower 48 producers trim spending plans for 2019.

December 28, 2018

Weatherford Toning Up, but U.S. Drilling Activity Weighs in 3Q

Seasonal improvements in Canada and stronger activity overseas could not offset a drop-off in U.S. activity during the third quarter, but a transformation is taking effect as Weatherford International plc uses muscles it’s never used before, the CEO said Monday.

October 29, 2018
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