Baker Hughes Inc. on Friday reported a 30% drop in first quarter profits, stung by weak North American drilling, but there is more optimism about the U.S. onshore rig count through the rest of the year, management said Friday. Schlumberger Ltd. also reported a drop in quarterly profits on declines in North America, and executives said the outlook this year for the United States and Canada remains uncertain.
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Baker Hughes Sees ‘Modest’ Uptick in U.S. Rig Count; Schlumberger Uncertain
No. 3 oilfield services provider Baker Hughes Inc. on Friday reported a 30% drop in first quarter profits, stung by weak North American drilling, its biggest market. Schlumberger Ltd., the world’s largest oilfield services operator, also reported a drop in quarterly profits on declines in North America, and management said the outlook for the United States and Canada this year remains uncertain.
April 22, 2013
Baker Sees ‘Modest’ Rise in U.S. Rig Count; Schlumberger Uncertain
Baker Hughes Inc. on Friday reported a 30% drop in first quarter profits, stung by weak North American drilling, but there is more optimism about the U.S. onshore rig count through the rest of the year, the management team said Friday. Schlumberger Ltd. also reported a drop in quarterly profits on declines in North America, and executives said the outlook this year for the United States and Canada remains uncertain.
April 22, 2013
Chesapeake Attempts to Pare Short-Term Debt
Stung by low natural gas prices and the slower-than-anticipated turnaround to more lucrative liquids targets, Chesapeake Energy Corp. is selling $2.3 billion in senior notes in three separate series due in 2016, 2021 and 2023 to pare more expensive debt that matures this year.
March 20, 2013
California to Raise Safety Concerns in Regulatory Process
Still stung from federal rebukes of its past natural gas pipeline safety oversight in the wake of the San Bruno, CA, pipeline rupture in 2010, the California Public Utilities Commission (CPUC) is looking at ways to elevate safety considerations in all of its proceedings, including rate cases.
January 6, 2012
Atlas Striving for 100% Water Reuse in Marcellus
Stung by a recent fine for allowing hydraulic fracturing (fracking) fluids to contaminate a watershed, Atlas Resources has set a goal of 100% reuse of flowback and production brine water as part of a strategy it believes is fundamental to sustainable operations in the Marcellus Shale.
November 9, 2010
PG&E Launches Extensive Pipeline Safety, Reliability Effort
Stung by strong customer and community criticism, San Francisco-based Pacific Gas and Electric Co. on Tuesday announced a five-part, multi-year effort to greatly strengthen the safety and reliability of its natural gas transmission pipeline system. Called Pipeline 2020, the program will augment initiatives implemented by the combination utility in the wake of the Sept. 9 pipeline explosion and fire that killed seven people in San Bruno, CA.
October 14, 2010
Drug Wars Affecting Mexico’s Oil, Gas Operations
Industry employees not immune to unrest south of the border.
September 9, 2010
El Paso’s Pipeline Growth Continues; E&P Still Weak
El Paso Corp. posted a tepid first quarter profit on Tuesday, stung by weak natural gas production and hedging losses. However, the Houston-based company reversed its losses from a year ago, lifted by strong natural gas pipeline and field service earnings.
May 16, 2005
El Paso’s Pipeline Growth Continues; E&P Still Weak
El Paso Corp. posted a tepid first quarter profit on Tuesday, stung by weak natural gas production and hedging losses. However, the Houston-based company reversed its losses from a year ago, lifted by strong natural gas pipeline and field service earnings.
May 11, 2005
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