Oil Price We are in the early innings of the earnings season with just 11% of S&P 500 companies having reported Q4 2022 results. Once again, the energy sector is emerging as the class valedictorian, with the sector’s expected earnings growth of 59.3% for the quarter the highest among the 11 U.S. market sectors, and incomparable to the blended earnings decline for the S&P
Oil and Gas 360 HOUSTON–(BUSINESS WIRE)–Jan. 24, 2023– Halliburton Company (NYSE: HAL) announced today net income of $656 million, or $0.72 per diluted share, for the fourth quarter of 2022. This compares to net income for the third quarter of 2022 of $544 million, or $0.60 per diluted share. Halliburton’s total revenue for the fourth quarter of 2022 was $5.6 billion compared to total revenue of $5.4 billion in the third
Investing SLB, the world’s largest oilfield services firm, beat Wall Street estimates for fourth-quarter profit on Friday, driven by strong demand for drilling services and equipment as oil and gas prices remained elevated amid tight supplies. SLB, formerly called Schlumberger (NYSE:SLB), has benefited from increased oil drilling and production in North America and elsewhere. Revenue from North America rose 27%
Yahoo Finance Britain’s competition watchdog said on Tuesday U.S.-listed oilfield services firm Baker Hughes Co’s acquisition of Altus Intervention could reduce competition among UK oil and gas operators. The Competition and Markets Authority (CMA) said it was concerned that the loss of rivalry between the merging companies could lead to higher prices, reduced choice and lower quality services for
Oil Price The era of “exponential” growth in the U.S. oil and gas industry is over as most shale firms are returning cash to investors instead of going into debt to drill more, according to Halliburton, the world’s largest fracking services provider. “We’ll see growing investment, but quite frankly, nothing even close to what we saw from 2008 to
World Oil HOUSTON — Schlumberger today announced its new name—SLB—underscoring the company’s vision for a decarbonized energy future and affirming its transformation from the world’s largest oilfield services company to a global technology company focused on driving energy innovation for a balanced planet. Beginning today, the legacy Schlumberger brand and nearly all of its affiliated brands will become one
Oil Price The world’s largest oilfield services provider Schlumberger (NYSE: SLB), reported on Friday third-quarter earnings beating analyst estimates, thanks to accelerating international drilling activity on top of already robust activity in North America. Schlumberger reported earnings per share (EPS), excluding charges and credits, of $0.63 for the third quarter, up by 26% sequentially and 75% year on year. The earnings
Oil Price The biggest oilfield services providers are expected to report this week and analysts expect a strong set of results for the third quarter. In fact, expectations are for one of the strongest reports in years on the back of higher demand and pricing. The three biggest oilfield services firms, Schlumberger, Halliburton, and Baker Hughes, are set to start
World Oil Employment in the U.S. oilfield services, and equipment sector rose by an estimated 2,566 jobs to 640,767 in September, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to August numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce). August adjusted number of 638,201 is down from the preliminary number of
World Oil Schlumberger announced it has entered into a partnership with Gradiant, a global water solutions provider, to introduce a key sustainable technology into the production process for battery-grade lithium compounds. As part of Schlumberger’s NeoLith Energy direct lithium extraction (DLE) and production flowsheet, Gradiant technology is used to concentrate the lithium solution and generate fresh water—a critical element in
World Oil (Bloomberg) — Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs Group Inc, HSBC Holdings Plc and SNB Capital to manage its IPO in Riyadh, seeking to join a steady stream of Gulf firms tapping equity markets. The firm will sell 26.7 million shares, or a 30% stake, in initial public offering, according
Oil and Gas 360 HOUSTON and LONDON, Sept. 06, 2022 (GLOBE NEWSWIRE) — Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) has announced it is restructuring and simplifying its organization and accelerating its strategic transformation. These changes will simplify operations, enhance profitability, and drive growth, meeting customer needs and producing solutions in the rapidly evolving energy and industrial markets. “We have continuously looked to
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