Oilfield

Dallas Fed Survey Shows E&P, OFS Execs More Cautious, See Natural Gas, Oil Prices Slipping

Dallas Fed Survey Shows E&P, OFS Execs More Cautious, See Natural Gas, Oil Prices Slipping

Solid growth continued across some of the biggest oil and natural gas production regions in the country during the third quarter, but supply costs are rising and executives are a bit more wary than earlier this year, the Federal Reserve Bank of Dallas said Wednesday. The Dallas Fed, as it is known, collected data across…

October 4, 2021
NOV’s Oilfield Technologies in Demand, but Labor Shortages and Inflationary Risks Lurk

NOV’s Oilfield Technologies in Demand, but Labor Shortages and Inflationary Risks Lurk

Customers are craving the conventional and alternative energy technologies proffered by Houston’s NOV Inc., with the backlog sharply higher in the second quarter. However, CEO Clay Williams told investors Wednesday that “continuing supply chain challenges” and rising costs are a concern. Williams discussed the latest results and what he sees ahead during a wide ranging…

July 28, 2021
Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

The battle to become a top oil and natural gas producer is no longer being waged by Jett Rink-like roustabouts toiling in the sun off of caliche roads in West Texas, but rather by algorithm experts sitting in darkened, air-conditioned offices in Houston. Exploration and production (E&P) companies looking for the edge to elevate their…

July 19, 2021

Weatherford Exits Bankruptcy ‘More Focused,’ Says McCollum

Oilfield services giant Weatherford International plc has emerged from voluntary bankruptcy in stronger financial shape after eliminating $6.2 billion of outstanding funded debt.

December 16, 2019

OFS Consolidation Said Increasing Market Share, Pricing Power

Prices for oilfield products and services have begun to increase following a multi-year slump, said to be lifted in part on more market power as consolidation in the industry continues.

June 24, 2019

NOV Expects to Miss 1Q Revenue Expectations, Cites Late ’18 Oil Price Collapse

Citing impacts from low oil prices in late 2018, National Oilwell Varco Inc. (NOV), one of the largest oilfield services operators in the U.S. onshore, said it expects 1Q2019 revenues to come in lower than expected.

April 12, 2019

Operator Permitted for Second Permian Oilfield Waste Landfill

Regulators in Texas have given Milestone Environmental Services a permit to build its second oilfield waste landfill in the Permian Basin.

April 12, 2019

North America Drilling-Related Activity Stable, Says BHGE CEO

The journey by Baker Hughes, a GE Company, has been a bumpy one since it began operating two yearsago, but improvements are coming with a continued focus on innovation and technology for its global customers, CEO Lorenzo Simonelli said Tuesday.

October 30, 2018

Potential Permian Constraints Pose Risks for RPC, Says CEO

Oilfield equipment specialist RPC Inc., whose activity is centered in the United States, reported a 17%-plus jump in revenue from a year ago on higher activity levels and a larger fleet of equipment, the Atlanta-based operator said Wednesday.

July 26, 2018

Los Angeles Oilfields Shutting In as Wildfires Bear Down

A number of small oilfields in Ventura County, CA, remained shut in Friday as the Thomas Firespread into Ojai and the unincorporated areas surrounding the city of Ventura, with major producer Aera Energy LLC closing down all of its operations.

December 8, 2017
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