Oilfield

Schlumberger Forecasting Multi-Year Upcycle in Oil, Natural Gas Investments

Schlumberger Forecasting Multi-Year Upcycle in Oil, Natural Gas Investments

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…

April 22, 2022
Schlumberger, Baker Hughes, Halliburton and Weatherford Halt New Russian Investments

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
Supercycle Underway for Natural Gas, Oil Markets, Says Schlumberger CEO

Supercycle Underway for Natural Gas, Oil Markets, Says Schlumberger CEO

A steady recovery in global energy demand, combined with tighter natural gas and oil supplies,  are creating favorable conditions for activity in the year ahead, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The largest oilfield services (OFS) company in the world unveiled its strong fourth quarter results, with Le Peuch detailing the outlook and…

January 21, 2022
Schlumberger Sees E&P Activity Climbing as Oil, Natural Gas Investments Accelerate

Schlumberger Sees E&P Activity Climbing as Oil, Natural Gas Investments Accelerate

The global oil and natural gas upcycle has begun, with more capital spending set to flow into the onshore and offshore heading into 2022, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The head of the world’s largest oilfield services (OFS) company shared a bullish view of the energy markets during a third-quarter conference call…

October 22, 2021
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
‹ Previous 1 2 3 11