Oilfield Services

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

A small decline in the oil patch and a small gain in natural gas-directed drilling left the combined U.S. rig count unchanged at 470 during the week ended Friday (June 25), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). One natural gas rig was added and one oil rig exited…

Houston-based Ranger Energy Services Inc. has agreed to swap stock for Patriot Completion Solutions LLC to expand its Lower 48 wireline business. Ranger provides well service rigs and associated oilfield services (OFS) for domestic onshore producers with a focus on unconventional well completions and production operations. Patriot, a portfolio company of White Deer Energy, offers…

Fieldwood Energy LLC confirmed Monday that one person was fatally injured on Saturday (May 15) at the Eugene Island 158 No. 14 facility in the Gulf of Mexico (GOM).  The unmanned platform is 50 miles south of Marsh Island, LA.  The unidentified contractor was involved in a “nonemergency casing pressure test on a shut-in well,”…

Recovery has begun but will be cautious and only make a slow start in the aftermath of the Covid-19 pandemic across oil and natural gas fields in Canada and the United States, according to the management team of oilfield contractor Ensign Energy Services Inc. “We expect a multi-year recovery cycle,” management said in reporting the…

Denver-based Liberty Oilfield Services Inc. is reporting a “slowly improving market” in the Lower 48 for pressure pumping services, with customer conversations becoming more constructive, CEO Chris Wright said Wednesday. Speaking during the 1Q2021 conference call, Wright noted that the oilfield services (OFS) operator has doubled the size of its platform since the start of…

The outlook for oil and gas exploration and production (E&P) in Latin America is improving as demand and prices strengthen, according to the first quarter earnings reports by the top three oilfield services (OFS) titans. Schlumberger Ltd, Halliburton Co. and Baker Hughes Co. each reported sequential revenue increases from the region, with management teams forecasting…

Schlumberger Ltd.’s management team on Friday said it returned to form in the first quarter, with the expectation global oil and natural gas activity could return to pre-pandemic levels by 2022. CEO Olivier Le Peuch held court during a conference call from Houston, where he shared an optimistic vision for the world’s No. 1 oilfield…

Eight of North America’s oil and gas producers filed for bankruptcy during the first three months of this year, the highest quarterly total since 2016, according to Haynes and Boone LLC. The law firm, which has monitored North American producer Chapter 11 filings since 2015, on Thursday issued its latest report covering 1Q2021. It also…