Schlumberger CEO Says Oilfield Growth Will Be at Structurally Lower Rate
Top oilfield service firm Schlumberger NV expects to return to 2019 level pre-tax margins by the end of next year, a sign the oil industry faces a long-haul to recover from the latest oil-price crash.Chief Executive Olivier Le Peuch…
Schlumberger Posts Loss on $8.5 Bln Charge as Customers Accelerate Cuts
Schlumberger NV, the world's largest oilfield services firm, on Friday reported a first-quarter loss due to $8.5 billion in charges, as customers accelerated spending cuts amid the continuing decline in oil prices.Crude prices plunged…
Global Demand Lifts Schlumberger Profits
Schlumberger NV reported a 9.4% rise in adjusted quarterly profit on Friday, as buoyant demand in international markets helped the world's largest oilfield services provider make up for lower drilling activity in North America.Net income fell to $333 million…
Halliburton Promises Cost Cuts
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider…
Schlumberger Profit Beats Estimates
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North…
Baker Hughes: U.S. Oil Drillers Cut Rigs Again
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept.
Schlumberger CEO Outlines Digital Strategy
Schlumberger NV's newly-appointed Chief Executive Officer Olivier Le Peuch on Wednesday outlined his vision for the world's largest oilfield services company, vowing to exit unprofitable businesses, restructure some units and focus on…
Halliburton Profit Beats Estimates
Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its Completions and Production unit outperformed expectations, pushing its shares up 6.8 percent in early trading.The Houston, Texas-based company is a leading…
Schlumberger Names New CEO, Tops Revenue
Schlumberger NV said on Friday Chief Operating Officer Olivier Le Peuch will replace longtime Chief Executive Officer Paal Kibsgaard, as the company looks to shore up its position as a leader in drilling technology.The world's largest…
Oilfield Services Firms Keane, C&J Merge
Oilfield services company Keane Group Inc said on Monday it will merge with rival C&J Energy Services in a $745.7 million all-stock deal, as it looks for scale amid spending cuts by crude producers.The oil service sector has been battling lower demand and pricing pressure as U.S.
Aker Solutions Raises 2019 Forecasts
Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield…
Baker Hughes Profits from Foreign Focus
Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent.Oilfield service companies…
Halliburton Reports Activity Uptick
Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services…
Schlumberger Quarterly Profit Slides
Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.Schlumberger said net income fell to $421 million, or 30 cents per share, in
Schlumberger Names Olivier Le Peuch as COO
Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as…
Schlumberger Names Le Peuch as Chief Operating Officer
Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as…
Baker Hughes Adjusted Profit Surges 85%
Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes…
Schlumberger Sees International Growth in 2019
Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices…
Petrobras Stops Chevron Plan to Drill Offshore Brazil
A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp's plan to resume exploration in a Brazilian offshore field, people familiar with the matter said.Chevron, which operates the field with a 52 percent stake…
US Drillers Add Oil Rigs for Third Week in a Row
U.S. energy firms added oil rigs for a third week in a row for the first time since June, keeping the rig count at its highest in over three years, as declining productivity in some shale fields force companies to drill more to keep…
