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Halliburton Beats Quarterly Profit Estimates on Steady North America Drilling Demand

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, OFS-Oilfield Services, Oil, US News / By

Halliburton  beat Wall Street estimates for third-quarter profit on Tuesday, helped by steady demand for its oilfield equipment and services in North America. Quarterly revenue from its North America segment was $2.4 billion, flat from a year earlier, but above analysts’ average estimate of $2.17 billion. Halliburton said the results were supported by increased stimulation …

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SLB Beats Profit Estimates on North America Demand, ChampionX Deal Boost

Latest, OFS-Oilfield Services, US News / By

(Reuters) – SLB  beat Wall Street estimates for third-quarter profit on Friday, as steady demand in North America and contributions from its recent ChampionX acquisition helped offset weakening oilfield activity in other regions. The U.S. oilfield market appears to be stabilizing after months of reduced spending, but international demand, historically SLB’s major profit driver, remains tepid. …

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Oil Executives Flag Increased Costs from Trump’sTariffs

Energy Topics & Technology, Latest, OFS-Oilfield Services / By

The executives of two oil companies warned this week that tariffs resulting from the U.S. administration’s trade policies were driving up costs across the energy production chain and affecting investment decisions. TotalEnergies CEO Patrick Pouyanne told the Energy Intelligence Forum in London on Tuesday that tariffs on steel were pushing up costs for liquefied natural gas …

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Cuts to US Oil Jobs and Spending Threaten Output Growth

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, OFS-Oilfield Services, Oil, Pinned Primary, US News / By

Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower …

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Halliburton Reduces Workforce as Oil Activity Slumps

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By

U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more than 10% this …

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Cutting OPEX in Flame Arrester Maintenance: A Proven Innovation from PROTEGO®- Learn More

Energy Topics & Technology, Featured Articles, Latest, OFS-Oilfield Services / By

By Dr. Michael Davies The conditions that flame arresters are subjected to in numerous industrial operations necessitate regular inspection and maintenance. Regular maintenance can easily become a burden in these situations. In process operation, OPEX (Operational Expenditure) should have a key focus on controlling cost by minimizing downtime and avoiding equipment failure during maintenance.  In …

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Baker Hughes to Acquire Chart Industries, Accelerating Energy & Industrial Technology Strategy

Conventional Energy, Latest, OFS-Oilfield Services, Press Releases, US News / By

Significant step high-grades the portfolio and adds value accretive customer offerings, transforms Baker Hughes’ Industrial & Energy Technology segment Chart Industries brings differentiated capabilities across a diverse set of end markets advantaged by secular growth drivers such as natural gas, data centers and decarbonization Highly complementary capabilities enable enhanced value-creation solutions for customers across the lifecycle …

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Baker Hughes Nears $13.6 Billion Deal to Buy Chart, Edging Out Flowserve, FT Reports

Energy Topics & Technology, Latest, Mergers and Acquisitions, OFS-Oilfield Services, US News / By

Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries, edging out rival suitor Flowserve, the Financial Times reported on Monday, citing sources familiar with the matter.A potential deal would displace an agreement Chart made in June to combine with flow control systems maker Flowserve in a …

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Energy Secretary Aims to Reassure Oil Bosses Amid Trade War

Conventional Energy, Energy Topics & Technology, Latest, LNG, Natural Gas, OFS-Oilfield Services, Oil / By

Energy Secretary Chris Wright reassured US oil companies that the turmoil from President Donald Trump’s trade war is short-term and the administration supports increased crude output. Wright predicted that the uncertainty will last only “a few more weeks” and that the administration is focused on making it cheaper and easier to pump crude and natural …

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SLB Wraps Up Oilfield Services Quarter With Profit Miss, Cautious Outlook

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, OFS-Oilfield Services, Oil / By

Summary SLB joins rivals Halliburton and Baker Hughes in flagging caution Latin America revenue dips 10%, driven by a sharp decline in drilling in Mexico North America revenue rises 8% April 25 (Reuters) – Top oilfield services provider SLB  missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, …

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