Services

Schlumberger CEO Calls on Oil, Gas Industry to ‘Engineer and Innovate’ from Downturn

Schlumberger CEO Calls on Oil, Gas Industry to ‘Engineer and Innovate’ from Downturn

The oil and natural gas industry may be going through one of its most challenging periods in modern history from diminished global demand and an uncertain future, but Schlumberger Ltd. CEO Olivier Le Peuch said Friday it’s more than up to the task. During a Friday conference call to share second quarter results, the chief…

July 24, 2020
BJ Services to Unload Cementing Business, Some Fracturing Assets as Covid-19 Claims Another Energy Operator

BJ Services to Unload Cementing Business, Some Fracturing Assets as Covid-19 Claims Another Energy Operator

North American completions specialist BJ Services LLC filed for voluntary bankruptcy protection on Monday, indicating it is working with potential buyers for some of its assets as it restructures. The voluntary filing, one of now more than two dozen since the beginning of the year as Covid-19 sent energy demand spiraling, was made Monday in…

July 21, 2020
Dearth of Lower 48 Well Completions Sends Hi-Crush into Bankruptcy

Dearth of Lower 48 Well Completions Sends Hi-Crush into Bankruptcy

Houston-based Hi-Crush Inc., one of the leading Lower 48 northern white sand providers, is seeking voluntary bankruptcy protection under Chapter 11 to reduce its debt. The operator filed for protection on Sunday in U.S. Bankruptcy Court for the Southern District of Texas, noting it has a prearranged restructuring support agreement with creditors. The agreement, if…

July 14, 2020
Canada’s OFS, Supply Sectors Forecast to Suffer Biggest Job Losses from Covid-19 Activity Slump

Canada’s OFS, Supply Sectors Forecast to Suffer Biggest Job Losses from Covid-19 Activity Slump

Oilfield service and supply contractors continue to suffer the biggest job losses in the Canadian oil and gas activity slump driven by the Covid-19 pandemic, according to an industry monitoring agency. Cuts of 6,100 field positions accounted for 89% of 6,870 Canadian industry layoffs during May, based on records compiled by Petroleum Labor Market Information…

June 22, 2020
Diminishing Jobs in U.S. OFS Sector Said to Jeopardize Energy Supply Chain

Diminishing Jobs in U.S. OFS Sector Said to Jeopardize Energy Supply Chain

The oilfield services (OFS) sector has been looking for a break, brought low for several quarters by reduced exploration and development spending and further upended by Covid-19, but it’s expected to be a long, hard slog before activity moves into high gear. Meanwhile, the jobs picture for the energy industry, and in particular the OFS…

June 22, 2020

Lower 48 Pressure Pumpers Look to Differentiate as Fracturing Demand Falls

Pressure pumpers in the Lower 48 struggled through 2019, with hydraulic horsepower (hhp) demand falling about 10% sequentially in the final quarter, according to estimates by IHS Markit.

December 31, 2019

Superior to Discontinue Fracturing, Combine Lower 48 Oilfield Services with Forbes Energy

Houston’s Superior Energy Services Inc. is combining its U.S. land services lines into a platform in combination with Forbes Energy Services Ltd. as it turns its focus to the domestic offshore and international markets.

December 24, 2019

RPC Cuts Workforce, Stacks Pressure Pumping Equipment as E&Ps Pull Back

Atlanta-based RPC Inc., which provides specialized oilfield services and equipment to customers working in the Lower 48 and Gulf of Mexico, has adjusted its operating strategy to compete in a “difficult environment,” CEO Richard A. Hubbell said Wednesday.

October 23, 2019
Halliburton Idling North American Equipment as Onshore Activity Erodes

Halliburton Idling North American Equipment as Onshore Activity Erodes

North America’s biggest pressure pumping provider Halliburton Co. warned of waning activity for the remainder of the year as customers shun completions and new drilling.

October 21, 2019
Basic Energy Bullish on Lower 48, ‘Judicious’ on Spending

Basic Energy Bullish on Lower 48, ‘Judicious’ on Spending

Lower 48 well site services giant Basic Energy Services Inc. saw less pressure pumping activity during the first quarter, particularly for hydraulic fracturing services, but production services outperformed, setting the stage for an overall strong year even on less spending.

May 14, 2019
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