Schlumberger

Brief — Schlumberger

Schlumberger Ltd.is collaborating with a subsidiary of Malaysia’s state-owned Petroliam Nasional Berhad (Petronas) on a deepwater multi-client survey in Mexico’s Campeche Basin in the southern Gulf of Mexico. The agreement would license to Petronas part of a wide-azimuth survey conducted by Schlumberger’s seismic business, WesternGeco. The project, Schlumberger said, follows the Mexican government’s decision to license offshore and onshore areas to private entities (see Daily GPI, Sept. 12). More than 80,000 square kilometers, or close to 31,000 square miles, of data have been acquired in the southern Gulf over the last 12 months, the oilfield services operator said.

September 22, 2016

Most North American Basin Pricing Still ‘Unsustainable,’ Says Schlumberger Exec

The global oil supply is tightening, and markets should move closer to balance by the end of this year, but it’s too early for “any improvement in price” to affect exploration investments because operator confidence and balance sheets still need to be repaired, Schlumberger Ltd.’s operations chief said Tuesday.

August 31, 2016

Service Cost Increases During Recovery Could Slow E&P Activity, Schlumberger CEO Says

The oil and gas industry has finally “reached the bottom” of the downcycle, Schlumberger Ltd. CEO Paal Kibsgaard told investors Friday during the international oilfield services (OFS) giant’s 2Q2016 earnings call.

July 22, 2016

Brief — Alphabet Energy

Schlumberger Ltd.led a $23.5 million investor round for Hayward, CA-based Alphabet Energy to help the company expand production of its Power Generating Combustor (PGC) system, which helps to reduce natural gas flaring. Alphabet, whose investors also have includedEncana Corp., said Schlumberger participated withGM Ventures, Osceola Capital Management LLC, TGP, Claremont Creek Ventures and the California Clean Energy Angel Fund. Alphabet is commercializing a waste heat recovery technology initially developed at the Lawrence Berkeley National Laboratory. The PGC system is designed to eliminate the need for diesel- and natural gas-powered generators and electrical grid connections at well pads to reduce fuel, rental and maintenance costs, and to eliminate emissions. Alphabet also has opened a Houston office to keep pace with energy industry demand for remote power generation solutions.

July 13, 2016

Schlumberger Weighing Whether to Shutter Some U.S. Ops or Wait Out Downturn

Schlumberger Ltd., the No. 1 oilfield services operator on the planet, eliminated more than 8,000 people from its workforce between January and March, but the sour business environment may take even more jobs before the end of June, CEO Paal Kibsgaard said Friday.

April 22, 2016

E&P Investments Not Matching Growing Demand, Says Schlumberger CEO

No. 1 oilfield services operator Schlumberger Ltd. laid off another 8,000 people in the first quarter, with more job cuts likely to happen before the end of June, CEO Paal Kibsgaard said Friday.

April 22, 2016

Schlumberger Weighing Whether to Shutter Some U.S. Ops or Wait Out Downturn

Schlumberger Ltd., the No. 1 oilfield services operator on the planet, eliminated more than 8,000 people from its workforce between January and March, but the sour business environment may take even more jobs before the end of June, CEO Paal Kibsgaard said Friday.

April 22, 2016

E&P Investments Not Matching Growing Demand, Says Schlumberger CEO

No. 1 oilfield services operator Schlumberger Ltd. laid off another 8,000 people in the first quarter, with more job cuts likely to happen before the end of June, CEO Paal Kibsgaard said Friday.

April 22, 2016
Most E&P Efficiency Gains Tied to OFS Pricing Concessions, Not Better Drilling, Says Schlumberger CEO

Most E&P Efficiency Gains Tied to OFS Pricing Concessions, Not Better Drilling, Says Schlumberger CEO

The challenges now facing the oil and natural gas industry partly are driven by the sharp decline in commodity prices, but they also result from failing to improve performance enough to tackle increasingly more complex hydrocarbon developments, Schlumberger Ltd.’s chief charged Monday.

March 21, 2016

Schlumberger to Lay Off More People as Upstream Investments Disappear

Schlumberger Ltd., the world’s largest oilfield services operator, plans to reduce its workforce even more on the expectation for less activity in 2016, the president of operations said Tuesday.

December 1, 2015