(BOE Report) – Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it said in an internal
(World Oil) – SPM™ Oil & Gas announced that their SPM™ WS 335 Frac Pump has achieved more than 13,000 pumping hours in the Permian before its first overhaul. As conventional frac pumps are commonly rebuilt at 3,000 hours and discarded at 6,000 hours, this milestone demonstrates the WS 335’s ability to last four times longer than traditional pressure pumping
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Calfrac is a leading independent provider of specialized oilfield services that operates in North America and Argentina. The Company provides hydraulic fracturing, coiled tubing, cementing and other well stimulation services that
Oil and Gas 360 Publisher’s Note: Flotek Industries (NYSE: FTK) will be presenting at EnerCom Denver-The Energy Investment Conference, scheduling for one-on-one meetings is open to qualified investors. You can still Register to attend. HOUSTON, August 6, 2024 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced operational and financial results for the quarter ended June
Yahoo Finance HOUSTON – A wave of mega-mergers among oil producers is forcing the U.S. service companies that drill and hydraulically fracture wells to slash their prices, merge, or risk bankruptcy as they compete for a dwindling number of customers. U.S. oil producers, also known as operators, announced more than $275 billion in deals over the past year and a
U.S. News HOUSTON – Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global demand, but they warned of softer activity in North America for the second half of this year. Oilfield service providers have in recent quarters bet on growth overseas, particularly in the Middle East and Asia, as well as
World Oil (WO) – Baker Hughes announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil. The multi-year offshore project, set to start in the first half of 2025, will be managed with Baker Hughes’ integrated solutions portfolio to optimize performance for Petrobras. Baker Hughes’ integrated approach will deploy
World Oil (WO) – Vista Energy and Nabors Industries signed a contract to add a third drilling rig to accelerate Vistas assets in Argentina’s Vaca Muerta shale. Nabors will deploy a high-spec rig with “cutting-edge technologies,” according to a press release. It is scheduled to commence operations in the second half of 2024. In support of Vista’s plan to reduce
Oil Price Halliburton Company (NYSE: HAL) booked slightly higher-than-expected adjusted earnings for the first quarter, driven by rising international demand for oilfield services. The company, one of the world’s top three oilfield services providers and leader in the U.S. fracking services market reported on Tuesday an adjusted net income of $679 million for the first quarter of 2024, or $0.76 per diluted
Oil and Gas 360 Acquisition strengthens SLB as a leader in production space, with world-class production chemicals and artificial lift technologies Combined portfolios will drive customer value through deep industry expertise and digital integration, as well as enhanced equipment life and production optimization ChampionX shareholders to receive 0.735 SLB shares for each share of ChampionX Annual pre-tax synergies to reach approximately $400 million within
Oil and Gas 360 SLB and Aker Carbon Capture will combine technology portfolios, expertise and operations platforms to bring carbon capture solutions to market more quickly and more economically HOUSTON–(BUSINESS WIRE)–Mar. 27, 2024– Regulatory News: SLB (NYSE: SLB) today announced an agreement to combine its carbon capture business with Aker Carbon Capture (ACC) to support accelerated industrial decarbonization at scale. Bringing
Oil Price SLB, the biggest oilfield services firm in the world, is not planning to abandon its business in Russia, chief executive Olivier Le Peuch told the Financial Times in an interview published on Monday. Pressure has mounted on companies, especially in the oil and gas industry, to withdraw from Russia after the invasion of Ukraine in February 2022. Many energy majors
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