Yahoo News Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world’s largest oilfield services company. Oil prices surged about 50% last year and are trading at seven-year highs on a COVID-19 vaccine-fueled demand recovery and tight supplies. The global rig count was 1,563 at the
World Oil OSLO – TGS, a global provider of energy data and intelligence, in a strategic collaboration with WesternGeco, the geophysical services product line of Schlumberger, announced the continuation of their ultra-long offset ocean-bottom node (OBN) acquisition in Green Canyon, U.S. Gulf of Mexico. Data processing and imaging are by WesternGeco. The 168 OCS block survey began in August 2021
Reuters Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment. Energy services firms are benefiting from a resumption of drilling driven by rising crude prices, which are up 18% in the latest quarter and
Global revenue of $5.6 billion increased 8% sequentially International revenue wa…
Worldwide revenue was $5.2 billion International revenue was $4.2 billion and Nor…
Reuters Oilfield services firm Schlumberger’s New Energy division said on Thursday it would launch a lithium extraction plant in Nevada to cash in on the surging demand for the battery metal from electric vehicle makers and technology companies. The division said it has invested more than $15 million in the direct lithium extraction process and expects the development and operation
Reuters Schlumberger NV on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world’s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing demand for drilling. Easing of COVID-19 related restrictions has propelled oil demand and prices, which remain stable since a late-2020 rebound from historic lows. Brent crude, which
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Reuters Oilfield services giant Schlumberger NV (SLB.N) on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly loss on thousands of job cuts and a pipeline outage in Ecuador. The large loss capped second-quarter reports from U.S. oilfield services providers that laid bare the damage wreaked by the coronavirus crisis. Producers
Reuters Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March. U.S. oil prices experienced historic drops throughout March and April, brought on by the demand destruction caused by coronavirus-related lockdowns and a price
Chron Schlumberger, the largest oil field service company, said Friday it lost $7.4 billion in the first quarter. Then its CEO said the second quarter will be worse. The company attributed the loss to writing down the value of assets by $8.5 billion because of oil prices at 20-year lows and the collapse of demand created by shutdown orders during
Houston Chronicle Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in the world, plans to cut up to 30 percent from its budget amid crumbling oil prices and the economic effects of the coronavirus pandemic. Schlumberger CEO Olivier Le Peuch reported the budget cuts during a Tuesday morning fireside chat at the Scotia Howard Weil Energy Conference in
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