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Natural gas and oil demand has risen since Russia invaded Ukraine in late February, but exploration and production (E&P) executives in first quarter conference calls clung to capital discipline, favoring shareholder returns over boosting output. With the quarter now in the rearview mirror, a myriad of questions remains to determine the direction of U.S. activity…

Natural gas development costs in the United States are rising, stung by rising consumption, inflation, supply chain issues and labor shortages, all of which are eating away at the margin, according to Moody’s Investors Service. The credit ratings agency recently hiked its medium-term Henry Hub natural gas price range by 50 cents to $2.50-$3.50/Mcf. The…

More global natural gas export projects are likely to be sanctioned this year and beyond, fueled by a “growing appetite” for long-term purchase agreements, Baker Hughes Co. CEO Lorenzo Simonelli said Thursday. The world’s No. 2 oilfield services (OFS) company unveiled its fourth quarter and 2021 results, with Simonelli helming a conference call. No. 1…

The global oil and natural gas upcycle has begun, with more capital spending set to flow into the onshore and offshore heading into 2022, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The head of the world’s largest oilfield services (OFS) company shared a bullish view of the energy markets during a third-quarter conference call…

Oil and natural gas executives working in northern Louisiana, southern New Mexico and across the state of Texas are optimistic that commodity prices will continue to climb this year, along with activity, according to a survey by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is better known, on Wednesday issued its…

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…

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…

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…

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…