Oilfield Services

Source: Reuters

Baker Hughes annual meeting: Simonelli sets agenda for “energizing change”

World Oil


(WO) – As the Baker Hughes Annual Meeting entered its first full day in Florence, Italy, on Monday, the firm’s Chairman, President and CEO, Lorenzo Simonelli (Fig. 1), set out an agenda for what he calls …

Source: Reuters

Valero Energy reports 2023 fourth quarter and full year results

Oil and Gas 360


January 25, 2024
  • Reported net income attributable to Valero stockholders of $1.2 billion, or $3.55 per share, for the fourth quarter and $8.8 billion, or $24.92 per share, for the year
  • Reported adjusted net income attributable
Source: Liberty Energy

Liberty Energy Inc. announces fourth quarter and full year 2023 financial and operational results and increase in existing share repurchase authorization to $750 million

Oil and Gas 360


January 24, 2024

DENVER–(BUSINESS WIRE)– Liberty Energy Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today full year and fourth quarter 2023 financial and operational results.

Summary Results and Highlights

  • Revenue of $4.7 billion for the
Source: Reuters

Halliburton announces fourth quarter 2023 results and increases dividend

Oil and Gas 360


  • Net income of $0.74 per diluted share.
  • Adjusted net income per diluted shareof $0.86, excluding losses in Argentina primarily due to currency devaluation.
  • Revenue of $5.7 billion and operating margin of 18%.
  • Cash flow
Source: Reuters

Oilfield services giant SLB tops profit estimates amid overseas business strength

Investing


Investing.com — Oilfield services giant SLB (NYSE:SLB) has reported fourth-quarter profit that topped analyst estimates and bumped up its dividend.

Houston-based SLB posted a 21% jump in net income attributable to shareholders, excluding charges and credits, to …

SLB, Nabors collaborate on automated drilling solutions for oil and gas operators

SLB, Nabors collaborate on automated drilling solutions for oil and gas operators

World Oil


(WO) —SLB and Nabors Industries announced a collaboration to scale the adoption of automated drilling solutions for oil and gas operators and drilling contractors. The agreement will enable customers to seamlessly integrate the companies’ drilling automation applications and …

bp renews drilling logistical services contract with Danos for Gulf of Mexico assets

bp renews drilling logistical services contract with Danos for Gulf of Mexico assets

World Oil


(WO) – Danos has secured a contract with bp to renew its comprehensive drilling logistical services for the integrated energy company’s Gulf of Mexico assets, building on a relationship that began in 2017.

Leveraging the company’s 76 years …

Source: Oil Price

Baker Hughes: Geopolitical risks are at the highest since 1973 oil embargo

Oil Price


The world faces the highest geopolitical risks since the 1973 oil embargo, the chief executive of one of the largest oilfield service providers, Baker Hughes, told the Financial Times. “From a historical context I’ve heard people say, …

Source: Reuters

Venezuela in talks with oilfield services firms to revive oil production

Oil Price


After the sanctions relief from the U.S. last month, Venezuela is in contact with domestic and international oilfield services providers to help it ramp up crude oil production, Reuters reported on Monday, citing sources close to the negotiations.…

Source: Reuters

Halliburton profit beats as higher global drilling offsets weak N.America

Yahoo Finance


Halliburton’s third-quarter profit beat market expectations on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. The increased demand comes as oil and gas companies reinvest their record profits from the market disruption …

Source: World Oil

Halliburton introduces wellbore-positioning service to optimize drilling operations

World Oil


(WO) – Halliburton Company introduced GuideStar, a service that uses high-resolution sampling to provide continuous, definitive survey measurements for more precise wellbore positioning.

The GuideStar service enhances well delivery by increasing the understanding of the centerline wellbore placement …

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development

World Oil


(WO) – Paradigm Drilling Services has recruited Rocio Hoz Cano as Technical Sales Engineer in Mexico to support growth investment in new drilling tools being deployed in the region.

 

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development- oil and gas 360

Bringing over 10 years of well planning and …

Source: Reuters

SLB beats profit forecast as offshore and international drilling rebounds

Oil Price


The biggest oilfield services firm in the world, SLB (NYSE: SLB), reported on Friday higher-than-expected earnings for the second quarter thanks to higher offshore drilling activity and a rebound in the international markets.

 

SLB’s earnings per share …

Source: Oil Price

Oilfield services giants signal weaker U.S. shale drilling

Oil Price


Two of the world’s top three oilfield service providers, Halliburton and Baker Hughes, reported on Wednesday consensus-beating profits for the second quarter, but both signaled softer demand for drilling on the North American market.

Weaker North American performance …

Source: Reuters

Baker Hughes Company announces second quarter 2023 results

Oil and Gas 360


  • Orders of $7.5 billion for the quarter, up 28% year-over-year.
  • Revenue of $6.3 billion for the quarter, up 25% year-over-year.
  • Net income attributable to Baker Hughes Company of $410 million for the quarter, up $1,248 million
Ranger Energy Services to join the Russell 3000® Index

Ranger Energy Services to join the Russell 3000® Index

Oil and Gas 360


Publisher’s Note: Ranger Energy Services will be a presenter at the 28th annual EnerCom Denver – The Energy Investment Conference that brings together energy companies, investors, analysts, and key industry leaders. Register to attend at

Source: World Oil

Halliburton, Nabors to collaborate on automation, well construction, drilling technologies

World Oil


(WO) – Halliburton Company and Nabors Industries announced an agreement on leading well construction automation solutions. Under the agreement, Halliburton and Nabors will collaborate on their technologies including the Halliburton Well Construction 4.0 digital surface and subsurface drilling …

Patterson-UTI Energy and NexTier Oilfield Solutions to combine in merger of equals, creating industry leading drilling and completions services provider

Patterson-UTI Energy and NexTier Oilfield Solutions to combine in merger of equals, creating industry leading drilling and completions services provider

Oil and Gas 360


Comprehensive U.S. Oilfield Services Franchise to Enhance Drilling and Completions Value Creation Potential and Maximize Returns for Shareholders

Combined $5.4 Billion Total Enterprise Value

Drives Improved Free Cash Flow Generation and Strong Balance Sheet to Deliver

Source: Reuters

Weatherford wins three-year drilling contract from Aramco

World Oil


(WO) – Weatherford International plc has been awarded a three-year contract with Aramco to deliver drilling services.

Under the contract, Weatherford will deploy its Drilling Services portfolio, which includes a suite of technology that combines world-class services, real-time …

Source: World Oil

Energy Workforce: U.S. oilfield employment increased to highest levels since March 2020

World Oil


(WO) — Employment in the U.S. oilfield services and equipment sector increased by 5,143 jobs to its highest level since March of 2020 to reach 662,454 in April, according to preliminary data from the Bureau of Labor Statistics …

Source: World Oil

Halliburton appoints new Eastern Hemisphere President

World Oil


(WO) — Halliburton Company announced that Shannon Slocum, Senior Vice President, Global Business Development and Marketing, has been promoted to the role of President, Eastern Hemisphere, effective immediately. Joe Rainey, President, Eastern Hemisphere, is retiring and will serve …

Source: Reuters

Baker Hughes, Amazon Web Services partner to develop automated field production solution for oil and gas industry

World Oil


(WO) – Baker Hughes, an energy technology company, signed a strategic collaboration agreement with Amazon Web Services, Inc. (AWS) to develop, market and sell the cloud-based Leucipa automated field production solution. The initial phase of the solution was …

Source: Reuters

Oilfield services shine as energy earnings lift off

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 …

Source: Reuters

Halliburton announces fourth quarter 2022 results and increases dividend

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 …

Source: Reuters

Oilfield services firm SLB beats fourth-quarter profit forecast

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 …

Source: Reuters

UK says Baker Hughes-Altus deal may hurt competition in oil well services

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 …

Source: Reuters

Halliburton: The era of exponential growth in U.S. oil and gas is over

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 …

Schlumberger becomes SLB, a technology company driving the future of energy

Schlumberger becomes SLB, a technology company driving the future of energy

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 …

Source: Reuters

Schlumberger beats earnings estimates as Q2 revenues grow by 10%

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 …

Source: Oil Price

Oilfield services giants are primed to post very strong 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 …