(Oil Price) – U.S. oilfield service majors had a good run after the pandemic lockdowns ended. Oil demand rebounded strongly, drillers drilled more, and even the climate-focused energy policies of the Biden administration could not ruin that. Now, a price rout that has already prompted the E&P segment to issue warning after warning is putting the good run on an extended
(Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty, volatile oil prices and rising tariff risks. Shares of the company fell nearly 2% in premarket trading following results. SLB’s report rounds out
(Oil Price) – The heightened oil market and macroeconomic uncertainties in recent weeks are baffling not only analysts. Halliburton, the oilfield services giant with the highest exposure to the U.S. fracking market, has just warned investors that its U.S. customers are re-evaluating drilling activity plans for 2025. “Looking forward, many of our customers are in the midst of evaluating their activity
(BOE Report) – Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday showed executives
Oil & Gas 360 – CALGARY, Alberta, March 14, 2025 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or the “Company”) (TSX:CFW) announces that Pat Powell has resigned as Chief Executive Officer and a director of Calfrac effective immediately. The Board would like to thank Pat for his many contributions to the Company over the last three years and wish him
(BOE Report) – Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it said in an internal
(World Oil) – SPM™ Oil & Gas announced that their SPM™ WS 335 Frac Pump has achieved more than 13,000 pumping hours in the Permian before its first overhaul. As conventional frac pumps are commonly rebuilt at 3,000 hours and discarded at 6,000 hours, this milestone demonstrates the WS 335’s ability to last four times longer than traditional pressure pumping
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Calfrac is a leading independent provider of specialized oilfield services that operates in North America and Argentina. The Company provides hydraulic fracturing, coiled tubing, cementing and other well stimulation services that
Oil and Gas 360 Publisher’s Note: Flotek Industries (NYSE: FTK) will be presenting at EnerCom Denver-The Energy Investment Conference, scheduling for one-on-one meetings is open to qualified investors. You can still Register to attend. HOUSTON, August 6, 2024 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced operational and financial results for the quarter ended June
Yahoo Finance HOUSTON – A wave of mega-mergers among oil producers is forcing the U.S. service companies that drill and hydraulically fracture wells to slash their prices, merge, or risk bankruptcy as they compete for a dwindling number of customers. U.S. oil producers, also known as operators, announced more than $275 billion in deals over the past year and a
U.S. News HOUSTON – Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global demand, but they warned of softer activity in North America for the second half of this year. Oilfield service providers have in recent quarters bet on growth overseas, particularly in the Middle East and Asia, as well as
World Oil (WO) – Baker Hughes announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil. The multi-year offshore project, set to start in the first half of 2025, will be managed with Baker Hughes’ integrated solutions portfolio to optimize performance for Petrobras. Baker Hughes’ integrated approach will deploy
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