Oilfield

Producers will save up to C$170 million (US$160 million) due to the first step alone in a planned series of reforms to Alberta natural gas and oilfield regulation, the provincial energy department predicts.

Oilfield services operators last week reported stronger sequential earnings in 1Q2010 from the last three months of 2009 because of a boost in U.S. onshore spending, but with North American natural gas prices failing to show much strength, the outlook for the second half of this year is uncertain, CEOs of Halliburton, Nabors Industries Ltd. and Schlumberger Ltd. said last week.

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

ExxonMobil Corp. gave a signal to oilfield services companies last week to begin disclosing the chemicals used in hydraulic fracturing (hydrofracing) operations at drilling sites.

ExxonMobil Corp. gave a signal to oilfield services companies this week to begin disclosing the chemicals used in hydraulic fracturing operations at drilling sites.

ExxonMobil Corp. gave a signal to oilfield services companies this week to begin disclosing the chemicals used in hydraulic fracturing operations at drilling sites.

Reduced natural gas drilling in North America may be enough to sustain unconventional production in the short term, but for the oilfield services sector, research and development dollars continue to be poured into more complex drilling technologies, which will be needed once activity resumes, the CEO of Schlumberger LLC said this week.

Schlumberger Ltd., the world’s largest oilfield services company, is laying off 1,000 contractors, operating staff and support personnel across North America because of the deteriorating conditions in the natural gas and oil sector. If market conditions don’t improve, the company warned it could reduce its workforce even more.