Oilfield Services

Baker Hughes closes 2019 with a profit while peers report huge losses

Baker Hughes closes 2019 with a profit while peers report huge losses

Houston Chronicle


Houston oil-field service company Baker Hughes closed 2019 with a profit as its peers in the troubled sector are reporting multibillion dollar losses.

Baker Hughes reported $128 million of net income in 2019, a 34 percent decline compared with …

Source: Houston Chronicle

Halliburton closes 2019 with $1.7 billion loss

Houston Chronicle


Houston oil field service company Halliburton said Tuesday that it closed 2019 with a $1.1 billion loss amid an ongoing shale slump in the United States that has weakened demand for hydraulic fracturing and related services.

The loss …

Source: Houston Chronicle

Houston-based McDermott confirms oilfield service company will file for bankruptcy

Houston Chronicle


McDermott International will file for Chapter 11 bankruptcy Tuesday, the struggling Houston oilfield service company confirmed.

In a statement released early Tuesday morning, McDermott said it would will file a prepackaged restructuring plan at the U.S. Bankruptcy Court …

Valaris Provides Update on ARO Drilling Joint Venture

Valaris Provides Update on ARO Drilling Joint Venture

Schlumberger posts $10.1 billion loss in 2019

Schlumberger posts $10.1 billion loss in 2019

Houston Chronicle


Schlumberger, the largest oil-field service company in the world, lost $10.1 billion in 2019 as a result of hefty write-downs on two past acquisitions and weakening demand for hydraulic fracturing services in the United States and Canada.

The …

January 17, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Finance, Oilfield Services
U.S. oil growth to slow, may spur shale buyouts: Schlumberger’s Papa

U.S. oil growth to slow, may spur shale buyouts: Schlumberger’s Papa

Reuters


DHAHRAN, Saudi Arabia – U.S. oil output growth is expected to slow over the next five years, likely prompting oil majors to “gobble up” smaller shale oil producers, Mark Papa, shale pioneer and non-executive chairman of Schlumberger, told Reuters.…

January 14, 2020 - 2:00 pm Closing Bell Story‎, Energy News, Oilfield Services, People
Tenaris completes acquisition of IPSCO Tubulars from TMK

Tenaris completes acquisition of IPSCO Tubulars from TMK

Tenaris


Together, we are uniquely positioned to serve the U.S. oil and gas industry, with an extensive geographic deployment throughout North America and an unmatched product range,” said Paolo Rocca, Chairman and CEO of Tenaris.

Tenaris completes acquisition of IPSCO Tubulars from TMK -oilandgas360

Tenaris S.A. (NYSE, Mexico: TS and MTA Italy: TEN) …

Enservco Corporation Updates Investors on 2019 Fourth Quarter and Year-End Financial Expectations

Enservco Corporation Updates Investors on 2019 Fourth Quarter and Year-End Financial Expectations

Enservco Corporation Updates Investors on 2019 Fourth Quarter and Year-End Financial Expectations

January 10, 2020 - 8:56 am Finance, Oilfield Services, Press Releases
Deep Down Receives Orders for Emergency Repairs to Subsea Oil and Gas Umbilicals

Deep Down Receives Orders for Emergency Repairs to Subsea Oil and Gas Umbilicals

Deep Down Receives Orders for Emergency Repairs to Subsea Oil and Gas Umbilicals

Source: Houston Chronicle

EOG Resources sells saltwater disposal wells in New Mexico

Houston Chronicle


Houston oil giant EOG Resources has sold nearly half of its saltwater disposal wells in the New Mexico side of the Permian Basin.

EOG Resources confirmed the sale of 23 saltwater disposal wells and 300 miles of oilfield …

C-SMART Analytics, a division of WESTERN ENERGY SUPPORT & TECHNOLOGY, prepares for a new year and a new chapter with the launch of the GEN 3 platform.

C-SMART Analytics, a division of WESTERN ENERGY SUPPORT & TECHNOLOGY, prepares for a new year and a new chapter with the launch of the GEN 3 platform.

C-SMART Analytics


 


C-SMART Analytics, a division of WESTERN ENERGY SUPPORT & TECHNOLOGY, prepares for a new year and a new chapter with the launch of the GEN 3 platform -oilandgas360January 02, 2019, Houston, Texas. – C-SMART Analytics, a software provider focused on reducing measurement error, risk, and LAUF, announced today the launch of its newest software platform: GEN 3.

“Today marks the beginning of a new …

January 7, 2020 - 6:23 pm Oilfield Services, Press Releases
Infrastructure Networks Teams with Nokia to Expand 4G/5G LTE Network Coverage across Major U.S. Energy Basins

Infrastructure Networks Teams with Nokia to Expand 4G/5G LTE Network Coverage across Major U.S. Energy Basins

Infrastructure Networks Teams with Nokia to Expand 4G/5G LTE Network Coverage across Major U.S. Energy Basins

January 7, 2020 - 9:00 am Oilfield Services, Press Releases, Technology
Nabors Announces Cash Tender Offers and Consent Solicitations

Nabors Announces Cash Tender Offers and Consent Solicitations

Nabors Announces Cash Tender Offers and Consent Solicitations

January 6, 2020 - 3:48 pm Finance, Oilfield Services, Press Releases
Nabors announces offering of senior guaranteed notes

Nabors announces offering of senior guaranteed notes

Nabors Announces Offering of Senior Guaranteed Notes

January 6, 2020 - 3:26 pm Finance, Oilfield Services, Press Releases
RigNet Announces Organizational Changes

RigNet Announces Organizational Changes

RigNet Announces Organizational Changes

January 6, 2020 - 8:30 am Offshore, Oilfield Services, People, Press Releases
Oilfield Fluid Management Mobile App for iOS Devices

SitePro Inc. announces SitePro Mobile

SitePro Inc. announces SitePro Mobile

Patterson-UTI Reports Drilling Activity for December 2019

Patterson-UTI Reports Drilling Activity for December 2019

Patterson-UTI Reports Drilling Activity for December 2019

January 6, 2020 - 6:00 am Oilfield Services, Press Releases
Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

Freightwaves


Flatbed truckload operators have been unprofitable for most of 2019

Oil & Gas 360 Publishers Note: We have been watching the Oil Field Service (OFS) take serious losses due to the investor demand for short-term returns. Investors are …

Source: Houston Chronicle

McDermott stock plummets amid rumored bankruptcy talks

Houston Chronicle


Rumors that Houston oilfield service company McDermott International is engaged in bankruptcy talks with lenders sent the company’s stock price plummeting by as much as two-thirds of its value after the close of market on Monday.

In a …

Key Energy Announces Departure of CEO

Key Energy Announces Departure of CEO

Key Energy Announces Departure of CEO

December 30, 2019 - 7:00 pm Corporate Governance, Oilfield Services, People, Press Releases
ION announces CFO transition

ION announces CFO transition

ION announces CFO transition

December 27, 2019 - 4:15 pm Oilfield Services, People, Press Releases, Technology
Source: Reuters

Oilfield service firms have a bearish outlook for 2020: Dallas Fed

Reuters


With their business outlook worsening, about half of oil field service firms plan to cut spending in 2020, the Federal Reserve Bank of Dallas said on Friday in its quarterly energy survey.

Oil and gas activity and employment dipped …

December 27, 2019 - 2:30 pm Closing Bell Story‎, Energy News, Oilfield Services
Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

Sinopec Masters Sinomacs ATS I Steerable Drilling System with major breakthrough in SLOF Oil Field

Sinopec Masters Sinomacs ATS I Steerable Drilling System with Major Breakthrough in SLOF Oil Field

December 27, 2019 - 1:59 am International, Oilfield Services, Press Releases
Deep Down Announces Share Repurchase Program

Deep Down Announces Share Repurchase Program

Deep Down Announces Share Repurchase Program

December 23, 2019 - 10:02 am Finance, Offshore, Oilfield Services, Press Releases
Flotek Announces New Chairman And CEO

Flotek Announces New Chairman And CEO

Flotek Announces New Chairman And CEO

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

MDM Permian, Inc. on Schedule to Begin Pre-Production Field Work in Permian Basin

December 20, 2019 - 1:05 pm Oilfield Services, Press Releases
Source: Houston Chronicle

Schlumberger joins UN-sponsored program to reduce greenhouse gas emissions

Houston Chronicle


The world’s largest oilfield service company plans to join a United Nations-sponsored program to reduce greenhouse gas emissions.

In a Thursday afternoon statement, Schlumberger reported that it plans to join Science Based Targets, an emission reduction program sponsored …

December 20, 2019 - 1:00 pm Energy News, International, Oilfield Services
Basic Energy Services announces appointment of Keith L. Schilling as President, Chief Executive Officer and Director

Basic Energy Services announces appointment of Keith L. Schilling as President, Chief Executive Officer and Director

Oil and Gas 360


FORT WORTH, Texas–(BUSINESS WIRE)–Dec. 19, 2019– Basic Energy Services, Inc. (OTCQX: BASX) (“Basic” or the “Company”) today announced the appointment of Keith L. Schilling as President, Chief Executive Officer and director, effective January 2, 2020. Mr. Schilling is an accomplished professional …

December 19, 2019 - 4:30 pm Energy News, Oilfield Services, People
Hi-Crush Inc. announces release of inaugural Corporate Responsibility Report

Hi-Crush Inc. announces release of inaugural Corporate Responsibility Report

The report covers all of the Company’s operations, facilities and job sites, in oil and gas basins across the United States including the Permian, Marcellus, Utica, Mid-Con, and others.


 

Hi-Crush Inc. Announces Release of Inaugural Corporate Responsibility Report -oilandgas360Hi-Crush Inc. (NYSE: HCR), or the “Company”, today announced that …

Source: Houston Chronicle

Denver company tests evaporation as solution for oil field wastewater

Houston Chronicle


Denver oil field wastewater company Gradient Energy Services is testing equipment that uses evaporation to reduce the amount of water that needs to be injected in disposal sites deep underground.

In a Tuesday evening statement, Gradient Energy Services …

December 18, 2019 - 3:00 pm Closing Bell Story‎, Energy News, Oilfield Services, Water