Oilfield Services

Source: Reuters

Oilfield spending to fall 21% as producers slash outlays: report

Reuters


Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and …

Helmerich &; Payne, Inc. Provides Capital Allocation Update and Announces Fiscal Second Quarter 2020 Conference Call and Webcast

Helmerich & Payne, Inc. (“H&P” or the “Company”) (NYSE: HP) today provided an update on its capital allocation policy as well as its capital expenditure and SG&A cost outlook for the remainder of fiscal 2020. The Company also announced the …

ProPetro Reports Preliminary Unaudited Full Year and Fourth Quarter 2019 Results and Provides Other Updates

ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) today announced preliminary unaudited financial and operational results for the full year and fourth quarter of 2019 and provided other updates.

Exclusive 360 Energy Expert Network Video Interview: Rare Petro – the Enabler of remote operations in the oil patch

Exclusive 360 Energy Expert Network Video Interview: Rare Petro – the Enabler of remote operations in the oil patch

Rare Petro is the "Enabler" for remote employee work, data and leveraging the modern business systems. Some parts of the  oil field has not always accepted, or adapted, technology until now.

 

Anthony McDaniels, CEO, Rare Petro, started his company

The 360 Digital Closing Bell Week Ahead – 3/30/2020

The 360 Digital Closing Bell Week Ahead – 3/30/2020

The 360 Digital Bell Week Ahead Report. Michael Tanner, the Host of the closing bell, covers what to look for during this week; the good the bad and the homely.

Some of the key takeaways this week:

 

The oil

Calfrac announces reductions to its 2020 capital program and reduced operating footprint

Calfrac announces reductions to its 2020 capital program and reduced operating footprint

CALGARYMarch 27, 2020 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or the “Company”) (TSX-CFW) is announcing reductions to its 2020 capital program and North American operating footprint as a result of the rapid and unforeseen deterioration in business …

Source: Houston Chronicle

Drilling rig operators make budget cuts ahead of rig count plummet

Houston Chronicle


Three of the largest drilling rig operators in Texas are making budget cuts and bracing for the worst as a global supply glut of crude oil and falling demand due to the coronavirus pandemic are expected to cause …

March 26, 2020 - 1:30 pm Crude Oil News, Energy News, Oilfield Services
Source: dallasfed.org

U.S. energy sector cutting spending, jobs amid pandemic: Dallas Fed survey

Reuters


The U.S. energy sector is slashing capital spending and jobs as business activity plunged and the outlook has turned “extremely pessimistic” amid the coronavirus pandemic, a survey by the Dallas Federal Reserve Bank of oil and gas companies showed …

Source: Houston Chronicle

Fracking giants warn shale crash will be faster this time

Houston Chronicle


Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago.

While the decline in North American drilling rigs could approach …

Source: nasdaq.com

Halliburton to ‘significantly’ cut 2020 capex below $1.2 billion budget

Reuters


Oilfield services firm Halliburton (HAL.N) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.

The Houston, Texas-based company did not disclose a new …

Source: Houston Chronicle

Layoffs, pay cuts loom as Schlumberger plans to cut up to 30 percent from budget

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 …

Source: Houston Chronicle

Halliburton to furlough 3,500 employees in Houston amid falling oil prices

Houston Chronicle


Oilfield service giant Halliburton plans to furlough about 3,500 employees of its Houston headquarters for the next two months amid grim market conditions that include four year-low oil prices and the coronavirus outbreak.

Employees at the company’s North …

Source: Houston Chronicle

Bankruptcy allows Weatherford to realize first profit in more than six years

Houston Chronicle


Chapter 11 bankruptcy has allowed Houston oilfield service company Weatherford International to close 2019 with its first profit in more than six years.

Shedding roughly $6 billion of debt after successfully emerging from Chapter 11 reorganization in mid-December, …

Basic Energy Services acquires well services business from NexTier to create leading well servicing provider in the U.S.

Basic Energy Services acquires well services business from NexTier to create leading well servicing provider in the U.S.

Basic Energy Services


FORT WORTH, Texas–(BUSINESS WIRE)– Basic Energy Services, Inc. (OTCQX:BASX) (“Basic” or the “Company”) today announced that it has acquired the production operations from NexTier (NYSE:NEX) for a consideration of approximately $94 million.The NexTier production operations, known as …

Key Energy Services announces completion of restructuring

Key Energy Services announces completion of restructuring

Oil and Gas 360


HOUSTON, March 09, 2020 (GLOBE NEWSWIRE) — Key Energy Services, Inc. (“Key” or the “Company”) announced today that on March 6, 2020, the Company completed the transactions described in its previously announced Restructuring Support Agreement (the …

Llanos Orientales oil fields in Colombia see the light, while increasing safety and lowering the environmental impact

Llanos Orientales oil fields in Colombia see the light, while increasing safety and lowering the environmental impact

JCA Companies


Cody, WY., February 24, 2020. JCA Companies (“JCA”) announced today that its subsidiary C-MOR Energy Services has safely installed its first Crown Jewel Rig Mounted Lighting Package for Parex Resources on a Top Drilling Rig in the …

EnerCom Dallas – Midstream Panel: Flatrions Field Services, Cureton Midstream, Vaquero Midstream

EnerCom Dallas – Midstream Panel: Flatrions Field Services, Cureton Midstream, Vaquero Midstream

The Midstream Panel was at 3:45 P.M The presentation live streamed, and the recorded presentation is below. 

 

The participating companies are Flatirons Field ServicesCureton Midstream and Vaquero Midstream.

 

Flatirons Field Services, -Flatirons Field Services

EnerCom Dallas – Capital Markets Panel – CAC Specialty and Tailwater Capitol

EnerCom Dallas – Capital Markets Panel – CAC Specialty and Tailwater Capitol

The Capital Markets Panel was at 2:35 P.M The presentation live streamed, and the recorded presentation is below. The participating companies are CAC Specialty and Tailwater Capital 

 

CAC Specialty  CAC Specialty: an integrated specialty insurance brokerage and

Optimizing wettability in your waterflood project with ESal™ can increase oil recovery by up to 50% for less than $4 per barrel without new equipment or downtime.

EnerCom Dallas – ESal Engineered Salinity -oil recovery by up to 50% for less than $4 per barrel without new equipment or downtime

ESal Engineered Salinity corporate presentation was at 4:35 P.M The presentation live streamed, and the recorded presentation is below. 

 

Salem Thyne talked about how the oil recovery process can save money while positively impact the environment. This is important to

Source: Houston Chronicle

Halliburton to pay down debt by issuing $1 billion of lower-interest notes

Houston Chronicle


Houston oilfield service company Halliburton plans to pay down its long-term debt by issuing $1 billion in lower-interest notes.

Halliburton on Wednesday said it plans to issue a type of debt known as senior notes. Due in March …

Dawson Geophysical to Issue Fourth Quarter 2019 Results and Hold Investor Conference Call

Dawson Geophysical to Issue Fourth Quarter 2019 Results and Hold Investor Conference Call

MIDLAND, TexasFeb. 20, 2020 /PRNewswire/ — Dawson Geophysical Company (NASDAQ: DWSN) announced today that it plans to publicly release preliminary and unaudited financial results for its year-end 2019 and the quarter ended December 31, 2019, the Company’s …

Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook

Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook

Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2019. Pioneer reported fourth quarter net income attributable to common stockholders of $344 million, or $2.06 per …

Source: Houston Chronicle

Schlumberger moves technology chief to head of ‘new energy’ division

Houston Chronicle


Oilfield service giant Schlumberger is moving one of its top executives to lead a newly created division for “new energy” initiatives.

In a Friday morning filing with the Securities and Exchange Commission, Schlumberger reported that Executive Vice President …

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

EnerCom Dallas – Stephens Inc – Reclaiming and Redefining Capitalism

EnerCom Dallas – Stephens Inc – Reclaiming and Redefining Capitalism

Stephens Corporate  presentation was live streamed, and the recorded presentation is below. 

 

Stephens  is a privately held financial services firm focused on building long-term relationships and long-term results.

 

All of the presentations are live streamed, and

EnerCom Dallas – Deep Imaging – Real Time Fluid Tracking

EnerCom Dallas – Deep Imaging – Real Time Fluid Tracking

Deep Imaging Corporate presentation was at 9:45 am. The presentation live streamed, and the recorded presentation is below. 

 


 

All of the presentations are live streamed, and Oil & Gas 360 will be publishing out on all

EnerCom Dallas – Fortis Energy Services – A customer-focused approach for increasing value delivered at the well site

EnerCom Dallas – Fortis Energy Services – A customer-focused approach for increasing value delivered at the well site

Fortis Energy Services Corporate presentation was at 9:15 am. The presentation live streamed, and the recorded presentation is below. 

 

Fortis Energy Services, Inc. is an award-winning oil and gas well service company in the USA. Fortis Energy Services was

Source: Houston Chronicle

NOV finishes year of losses $6.1 billion in the red

Houston Chronicle


Houston oilfield service company National Oilwell Varco finished up a year of losses $6.1 billion in the red.

In a statement released on Thursday evening, the company reported closing 2019 with a $6.1 billion loss, a dramatic drop …

Oil and Gas Service Company looks to new decade of opportunity – Exclusive Interview

Oil and Gas Service Company looks to new decade of opportunity – Exclusive Interview

Oil and Gas 360


Oil and Gas 360 Publishers Note: Fortis Energy Services is presenting at EnerCom Dallas The Energy Investment Conference on Wednesday, Febuary 12, 2020 at 9:15am (MST). Please sign up to attend, all of our presentations will

Ingevity reports preliminary fourth quarter and full year 2019 financial results

Ingevity reports preliminary fourth quarter and full year 2019 financial results

Ingevity reports preliminary fourth quarter and full year 2019 financial results