Oilfield Services

North American completions expert Liberty Energy Inc. is looking for ways to expand its electric fleets and services as customers vie for environmentally friendly equipment, according to CEO Chris Wright. The management team of the Denver-based company, formerly Liberty Oilfield Services Inc., held a conference call Tuesday to share 2Q2022 results. Business is good, but…

Constrained availability of oilfield services (OFS) supply capacity in North America, and increasingly internationally, rank among ongoing “tailwinds” for natural gas and oil prices, management at Schlumberger Ltd. said Friday. The OFS giant sees “a decoupling of upstream spending from potential near-term demand volatility, resulting in resilient global oil and gas activity growth in 2022…

Baker Hughes Co. (BKR) management on Wednesday offered a bullish assessment of natural gas growth opportunities but conveyed a more measured outlook for the oil market. “Overall, we remain very positive on the outlook for natural gas,” Baker Hughes’ CEO Lorenzo Simonelli told analysts during the oilfield services (OFS) giant’s 2Q2022 earnings call. “We also…

ProFrac Holdings Inc., on an acquisition tear since early this year, has snapped up more equipment to create the second largest U.S. fracturing company by total horsepower and the largest electric fleet operator. The stock-for-stock trade with electric hydraulic fracture (frack) company U.S. Well Services Inc. (USWS) is set to be completed by year’s end.…

In the Mexico energy industry, the prevailing challenge “is the uncertainty about when the rules are going to change again,” said Alma Del Toro, President of Blue Bull Energy. “And because Mexico keeps changing its mind, that creates the worst nightmare for any investor.” Del Toro, who has more than 25 years of experience in…

Texas’ upstream natural gas and oil industry added 5,200 direct jobs from March to April, bringing the state’s latest direct upstream headcount to 190,400, the Texas Independent Producers and Royalty Owners Association (TIPRO) said Friday. “Texas operators are responding to the call to increase production, despite facing numerous challenges, including inflationary pressures, workforce shortages and…

Laredo Petroleum Inc. has locked in pricing for most of its oilfield services operations through the rest of this year to counter inflation, but costs for the diesel fuel and chemicals needed to sustain them remain harder to predict. “We worked with our service partners to lock in 85% of expected drilling, completions, equipment and…

Denver-based Centennial Resource Development Inc., whose operations are focused on the Permian Basin, is sticking to its guidance of upping production by 10-15% this year. In an earnings call, CEO Sean Smith said the company was holding to its current two-rig program. “Should we want to add a third rig in the future because prices…

Gibson Energy Inc. is maintaining talks about expansions and its energy transition goals as it stacks gains from the first three months of the year thanks to increased commodity prices. The Calgary oilfield service firm’s gains were led by the oil marketing business, according to the company. Volumes grew by 20% to 58,088 b/d in…