Except for a small drop in the amount of oil produced in 2016, with return to the upswing in 2017, American production has been on a steady increase ever since 2008. Even during the 2014-2016 price crash, U.S. E&Ps hunkered down, strengthened their balance sheets, made technological leaps and kept on producing oil and gas—without depending on the reappearance of
National Oilwell Varco (ticker: NOV) reported a first quarter 2018 net loss of $68 million, or $(0.18) per share. Revenues for the first quarter were $1.8 billion, a decrease of 9% compared to the fourth quarter of 2017 and an increase of 3% from the first quarter of 2017. Operating loss for the first quarter of 2018 was $1 million,
Targets 2018 upgrades to stay below $34 million Precision Drilling Corporation (ticker: PDS) had fourth quarter 2017 revenues of CDN$347 million, an increase of 15% over Q4 2016. Precision posted a Q4 2017 net loss of CDN$47 million, or (CDN$0.16) per share, compared with a net loss of CDN$31 million (CDN$0.10 per share) in the fourth quarter of 2016. During
Weatherford International plc (ticker: WFT) reported a net loss of $1.94 billion, or a loss of ($1.95) per share for the fourth quarter of 2017. Non-GAAP net loss for the fourth quarter of 2017, excluding charges and credits, was $329 million, or ($0.33) diluted loss per share. Revenue in the fourth quarter of 2017 was $1.49 billion, which increased 2% from revenue of $1.46 billion for the third quarter
EcoStim Energy Solutions (ticker: ESES) provides hydraulic fracturing technology using turbine and conventional pumping fleets with advanced fluids, diverter systems and pin-point completion systems. The company began its initial operation in Argentina with a small spread in 2015. In the United States, the first spread commenced operations in May 2017 and the second spread in October 2017. The company’s total
Core Laboratories (ticker: CLB) provides proprietary and patented Reservoir Description and Production Enhancement services to the global upstream industry. Core Laboratories develops and acquires technologies that complement its existing products and services, disseminating these technologies throughout a global network. The company’s headquarters is based in Houston, Texas and will celebrate its 82nd year in the industry next month. Reservoir Description
Superior Drilling Products, Inc. (ticker: SDPI) will be presenting at the EnerCom Dallas oil and gas investor conference. Superior is a drilling tool technology company based in Vernal, Utah. Q3 2017 highlights Tool revenue increased 72% over prior-year period Revenue nearly doubled to $4.4 million over prior-year quarter Generated $1.7 million in cash from operations in the quarter In Q3
Flotek Industries (ticker: FTK), with headquarters in Houston, Texas, develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to global clients in the energy, consumer industrials and food & beverage industries. Highlights from Flotek’s Energy Chemistry Technologies include: Segment revenues decreased 7.1% sequentially to $61.2 million, and increased 35.8% year-over-year. Global Complex nano-Fluid® (CnF®) volumes and revenue declined 12.9% and 11.2%,
Superior Drilling Products (ticker: SDPI) specializes in designing and building products meant to optimize the drilling process. Superior offers five products geared towards advancing drilling efficiency and two services to benefit operating companies during their drilling activities. Eliminating problems downhole Superior’s drilling oriented technology is specialized for solving problems inherent in the drilling process. The company’s Drill-N-Ream® tool is built
An EnerCom Special Report: Technology is Driving Returns Parke A. Dickey, petroleum geologist, once said, “We usually find oil and gas in new places with old ideas. Sometimes, also, we find oil and gas in an old place with a new idea, but we seldom find much oil and gas in an old place with an old idea. Several times
The low prices of oil are having an impact on hiring, but students are optimistic and are still coming in, believing the drop in prices is temporary, Colorado School of Mines Professor Will Fleckenstein told Angie Austin at EnerCom’s The Oil & Gas Conference® 21. Dr. Fleckenstein spoke about the downturn in the industry, the adjustments being made in the
Rio de Janeiro, June 8, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its total production of oil and natural gas in May was of 2.83 million barrels of oil equivalent per day (boed), 5% higher than the volume produced in April (2.69 million boed) and 2% higher than the volume produced in May 2015, of which 2.64 million
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