From the Houston Business Journal Weatherford International Ltd. (NYSE: WFT) reported a net loss of $1.78 billion, or $1.98 per share, in the third quarter. That compares to Weatherford’s second-quarter loss of $565 million, or 63 cents per share, and its loss of $170 million, or 22 cents per share, in the third quarter of 2015. However, most of the third-quarter
But expect rising service costs and stricter return hurdles Paal Kibsgaard, CEO of the world’s largest oilfield service provider Schlumberger (ticker: SLB), gave his assessment of the global oil and oil services markets during the company’s third quarter conference call. “The business environment stabilized as expected in the third quarter, confirming that we have indeed reached the bottom the cycle.
Halliburton: things are getting better for us and our customers In Halliburton’s (ticker: HAL) Q3 2016 conference call today, CEO Dave Lesar characterized the business climate in Q3 for the company and gave some hints about where the industry feels like it is heading in Q4 2016 and into 2017. The following excerpts are from Lesar’s and other HAL executives’
Canadian Oil Drilling is More Active than a Year Ago Drilling activity is picking up in North America as oil prices continue to climb higher this week. The latest information from Baker Hughes Industries (ticker: BHI) shows the U.S. added 11 rigs in the week ended September 30, 2016, which Canada added 24 in the same time period. Even as
BetaZi LLC is pleased to announce the availability of a new product powered by its proprietary physics-based™ predictive analytics and P2 Energy Solutions’ Tobin™ data: Basin Studies. Each Basin Study includes a reliable forecast on every well in the basin, delivered in a pre-loaded Spotfire database that includes: the BetaZi forecasts, associated type curves, pScores™, first-pass economics, and the Tobin
Phillips 66 is Buffett’s 6th Largest Holding – 79 million shares Last year, Warren Buffett made his first purchase of Phillips 66 (ticker: PSX) stock amid the depletion in oil prices and the consequent depletion of oilfield service stocks. Oil refiner Phillips 66 now represents a major holding for Berkshire Hathaway (ticker: BRK), the sixth-largest holding in the company portfolio.
Pioneer Energy Services presents at EnerCom’s The Oil & Gas Conference® During Pioneer Energy Services’ breakout session, management was asked the following questions: What do you think the state of the industry really is? What type of rigs will get the best utilization going forward? Do you see competition from walking converted SCR rigs? How are you doing on crews?
RigUp is a private technology company that operates the largest online marketplace for oilfield services. RigUp’s network spans 150 E&Ps and 11,000 service companies, with $250 million in monthly-awarded work being transacted on the platform. Over the past 18 months, RigUp has seen activity grow across all of the major shale plays in the U.S. RigUp’s digital platform addresses many of the
Core Laboratories presents at EnerCom’s The Oil & Gas Conference® During the Core Laboratories breakout session, management was asked the following questions: Can you talk about what you see in world supply and demand curves? Specifically how do you see the balance of the demand? World production hovers around the low to mid 90’s you use 85, why? Is miscible
Core Laboratories will present at EnerCom’s The Oil & Gas Conference® on Mon. Aug. 15, 2016. Core Laboratories (ticker: CLB) is a leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services used to optimize petroleum reservoir performance. The Company has 70 offices in more than 50 countries and operates in every major oil-producing region in
The Days of “Show Up and Fix It” are Over: Lindsay Ninety-six year old Tulsa-based Helmerich & Payne (ticker: HP) reported its third quarter results today and on the conference call CEO John Lindsay expressed confidence that the company will be able to respond the industry demand for not just more rigs, but answer the need for much better rigs. “We believe
But BHI Chairman Predicts “Continued Uncertainty” in Global Oil Markets Before the markets opened today, Baker Hughes (ticker: BHI) hosted the company’s second quarter conference call. BHI reported an adjusted net loss of $0.90 per share, with revenue falling 39.3% year over year to $2.41 billion. Baker Hughes said it was hurt by a “continued steep decline” in drilling activity
