Geopolitical tensions are impacting global oil and natural gas prices, but the outlook for oilfield services “continues to be constructive,” as operators prepare for infrastructure and LNG projects to begin commercial operations, according to Ensign Energy Services Inc. The executive team of the Calgary-based operator, which works across North America and in overseas markets, discussed…
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Schlumberger, Baker Hughes, Halliburton and Weatherford Halt New Russian Investments
The top global oilfield services companies announced over the weekend that they would suspend their investments in Russia, in another blow to the country’s oil and gas operations. The No. 1 operator, Schlumberger Ltd., was joined by Baker Hughes Co., Halliburton Co. and Weatherford International plc, which separately agreed to cancel new investments. “We have…
March 21, 2022
BHGE Orders Hit $6B in 2Q, While Synergies from Merger Escalate
One year after General Electric Co. (GE) combined its estimable oilfield services business with Baker Hughes Inc., the company is working to secure oilfield business in an increasingly competitive market, a strategy that appeared to pay dividends during the second quarter.
July 23, 2018
North American OFS Sector Preparing for Transformational 2018
If 2017 proved to be a new beginning for the downtrodden oilfield services (OFS) sector, 2018 is expected to be the year that operators are positioned for future growth in both the onshore and offshore.
December 28, 2017
Baker Hughes Sees Continuing Decline in North American Stimulation, Completions Services
North American onshore activity isn’t showing any signs of recovery, with demand continuing to decline for stimulation, drilling services and completions product lines, Baker Hughes Inc. reported Wednesday.
October 21, 2015
Basic Energy Still Cutting Prices, Stacking Equipment as Completions Slump
Basic Energy Services Inc., which provides pressure pumping services across the U.S. onshore, has slashed prices across all of its business lines to protect market share “as much as possible,” said CEO Roe Patterson.
October 14, 2015
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