The world’s top oilfield operator, Schlumberger Ltd., is anticipating oil and natural gas demand to push “successive years of market growth,” with the upcycle now in full gear, CEO Olivier Le Peuch said Friday. “As demand continues to strengthen and new investments are committed to diversify energy supply, the duration and scale of this upcycle…
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Schlumberger, Sintela Co-Developing Upstream, Midstream CCS Solutions
The No. 1 global oilfield services company, Schlumberger Ltd., has reached an agreement with Sintela Ltd. to co-develop fiber optic solutions for carbon capture and storage (CCS), as well as the energy and geothermal industries. The new solutions will be designed to “enhance measurement data handling capability” and deliver “insights to our upstream and midstream…
U.S. OFS Employment in March Hits Highest Point in Months
The U.S. oilfield services (OFS) and equipment sector gained an estimated 2,698 jobs in March, its highest point since last September, the Houston-based Energy Workforce & Technology Council reported. “It’s encouraging to see job growth increases in the sector and that we are continuing to make gains from our pandemic lows and 2021 fourth quarter…
Canadian Oil, Gas Activity Undermined by Politics, Says Calgary Contractor
The recovery in oil and gas activity last year, which allowed oilfield services contractors to their losses, still led to many working below capacity and vulnerable to setbacks, according to a Calgary firm. Western Energy Services Corp., which recently issued its 2021 and fourth quarter results, has 120 drilling and well service rigs combined in…
U.S. Natural Gas Drilling Activity Unchanged as Oil Patch Notches Further Gains
The U.S. natural gas rig count went unchanged at 137 during the week ended Friday (March 25), while a week of strong growth in Texas accompanied continued activity gains in the oil patch, according to updated figures from Baker Hughes Co. (BKR). U.S. oil-directed rigs increased by seven overall for the period, helping to lift…
Baker Hughes Expanding Industrial Cloud-based Solutions with Microsoft, C3.ai
Oilfield services (OFS) giant Baker Hughes Co. is partnering with Microsoft Corp., as well as C3.ai Inc. and Accenture plc, to deploy industrial asset management (IAM) solutions for the energy industry. Sectors likely to be impacted are oil and gas, renewable energy and thermal power generation, among other industries. Houston-based Baker Hughes is one of…
E&P, OFS Executives in Texas, Louisiana and New Mexico Forecasting Steady Oil, Gas Prices
Oil and natural gas activity accelerated across Texas, parts of Louisiana and New Mexico during the first three months of 2022, but as Russia’s invasion of Ukraine continued, energy executives said they don’t foresee commodity prices surging to the end of the year. The first quarter survey of oilfield services (OFS) and exploration and production…
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…
AI Still Has Much to Learn About Humans in Natural Gas and Oil Industry
Artificial intelligence (AI), which tech giant Microsoft Corp. defines as “any technique that enables computers to mimic human intelligence,” falls squarely within the digital transformation. Exploration and production (E&P) and oilfield service (OFS) companies have been embracing digitalization for years, and the momentum is not expected to subside anytime soon. In a recent study, global…
Latin American Oil, Natural Gas Drilling Growth Seen Continuing in 2022
Schlumberger Ltd., Baker Hughes Co. and Halliburton Co., the “Big 3” of the global oilfield services (OFS) sector, reaped solid gains during the final three months of 2021, boosted in part with rising activity in parts of Latin America. During the quarterly conference call to share results, Schlumberger CEO Olivier Le Peuch said Latin American…