Oilfield

Beaten Up But Not Beaten Down, OFS Sector Showing Resiliency

Beaten Up But Not Beaten Down, OFS Sector Showing Resiliency

The oilfield services industry has been mangled, chewed up and spit out since commodity prices began tumbling in late 2014. Like a champ, operators picked themselves up and fought back by revamping customer contracts, improving efficiencies and costs, and as they have always done, delivering ever-better technology.

November 23, 2016
Oilfield Recovery Prolonged as Many Laid-Off Employees Never Coming Back, Says Evercore

Oilfield Recovery Prolonged as Many Laid-Off Employees Never Coming Back, Says Evercore

Contrary to the optimism some oilfield services companies have expressed about finding a solid labor pool once the oil and gas upturn begins, many former employees have no intention of ever returning, according to a survey by Evercore ISI.

August 2, 2016
As U.S. E&Ps Ax Budgets, Raymond James Forecasting Sharper Decline in Rig Count

As U.S. E&Ps Ax Budgets, Raymond James Forecasting Sharper Decline in Rig Count

Raymond James & Associates Inc. analysts are standing by their call for West Texas Intermediate oil prices to reach $50/bbl later this year in the face of a futures strip that is “simply unsustainable,” but until the price cavalry arrives, the U.S. rig count is going to be hacked even more as producers cut back their spending.

February 8, 2016

California Regulators Cite Subsidence Concerns in Clamping Down on Freeport-McMoRan Exploration

Under increasing criticism for being too soft on oil and natural gas operators, California regulators on Monday ordered the exploration unit of Freeport-McMoRan Corp. to provide additional data on the Inglewood Oilfield in the greater Los Angeles area.

December 2, 2015

Archer, Quintana Energy to Merge North American Land Services

Global operator Archer Ltd. is buying a major stake and contributing well services entities to Houston’s Quintana Energy Services LP (QES) to create a North American onshore-focused oilfield services business.

November 23, 2015

Oilfield Equipment Market Down But Not Out, Says Douglas-Westwood

Spending for oilfield equipment (OFE) has fallen sharply over the past year, mostly impacting the U.S. onshore, but recovery should begin by 2017 and accelerate thereafter, according to new research by UK-based Douglas-Westwood Ltd. (DW).

November 9, 2015

Schlumberger, Cameron’s $14.8B Tie-Up to Create Oilfield Powerhouse

Schlumberger Ltd. and frequent partner Cameron International Corp. agreed Wednesday to merge in a deal estimated to be worth $14.8 billion, combining complementary technology portfolios that they said would be the industry’s first “complete” drilling and production systems.

August 26, 2015

Boomerang Seeks Protection, Joins List of Distressed OFS Operators

St. Louis-based Boomerang Tube LLC, which manufactures tubular goods and line pipe for the oil and gas industry, filed for Chapter 11 bankruptcy protection on Tuesday, the latest victim of the depressed oilfield drilling market.

June 9, 2015

Boomerang Seeks Protection, Joins List of Distressed OFS Operators

St. Louis-based Boomerang Tube LLC, which manufactures tubular goods and line pipe for the oil and gas industry, filed for Chapter 11 bankruptcy protection on Tuesday, the latest victim of the depressed oilfield drilling market.

June 9, 2015

Chesapeake Oilfield Spinoff Advances Early in Market Debut

Seventy Seven Energy Inc. (SSE), the oilfield services unit jettisoned by Chesapeake Energy Corp., advanced Tuesday in its first day of trading as a standalone on the New York Stock Exchange.

July 1, 2014