Schlumberger

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.

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.

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.

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.

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.

Demand for onshore pressure pumping services has all but evaporated, but conditions may deteriorate further by late November into the first quarter of 2016, Halliburton Co. CEO Dave Lesar said Monday.

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.

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.

Schlumberger Ltd. is working “actively” with North American customers to lower drilling costs and to renegotiate contracts, with a big push toward technology and efficiency offerings, CEO Paal Kibsgaard said Friday.