Oil and Gas 360 Publisher’s Note: Both ENGAGE and TAQ Energy will be presenting at the 2022 The Energy Venture Investment Summit presented by EnerCom and Colorado School of Mines on Thursday, February 17, 2022 on the Colorado School of Mines campus in Golden, Colorado. ENGAGE will be hosting an in-person panel discussion on digitizing the industry future at 10.00
World Oil HOUSTON (Bloomberg) –Shale-oil companies are using almost all of the frac equipment and crews available as exploration expands, accelerating cost inflation and pointing to worsening supply-chain disruptions across the industry. North American oil drillers appear likely to expand spending by more than 25% this year while overseas explorers are on course for a more modest increase in the
Reuters BENGALURU (Jan 24): Halliburton Co’s fourth-quarter adjusted profit doubled from a year earlier, it said on Monday, beating analysts’ forecasts and prompting the oilfield service company to lift its dividend following a rebound in crude and natural gas prices. US oil prices rose more than 50% last year and have made a strong start to 2022, hovering around US$85
Yahoo News Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world’s largest oilfield services company. Oil prices surged about 50% last year and are trading at seven-year highs on a COVID-19 vaccine-fueled demand recovery and tight supplies. The global rig count was 1,563 at the
Nasdaq Jan 20 – Baker Hughes Co BKR.O on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment. Oil prices surged more than 50% last year on hopes of a global economic recovery from the COVID-19 pandemic and as OPEC+ cut supplies,
World Oil HOUSTON – Employment in the U.S. oilfield services and equipment sector rose by an estimated 7,450 jobs in December, despite the slow hiring in overall U.S. jobs, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council (Council). Gains were made in oil and gas extraction, as well
World Oil HOUSTON (Bloomberg) –NexTier Oilfield Solutions Inc. soared more than 20% after the frac provider disclosed higher-than-expected quarterly sales, signaling an acceleration in U.S. shale drilling. The Houston-based provider of pumps that blast water, sand and chemicals underground to crack open oil-soaked rocks said fourth-quarter revenue more than doubled to at least $500 million, almost 3% above the average
World Oil HOUSTON (Bloomberg) –Halliburton Co., the oil industry’s largest frac services provider, warned that the world is headed into a period of scarcity for oil after seven years of underinvestment following crude’s plummet from $100 a barrel in 2014. “For the first time in a long time, we’ll see a buyer looking for a barrel of oil as opposed
World Oil Oil majors are looking to automate their assets to reduce the impact of demand fluctuation on revenues, according to GlobalData. The company notes that COVID-19 has been a wake-up call to the upheaval that a sudden drop in energy demand and/or labor availability can cause, and digital oilfield technologies such as digital twins and other remote monitoring solutions
World Oil HOUSTON – Halliburton Company released DS365.ai cloud service to help customers accelerate their digital transformation with intelligent automation. DS365.ai delivers industry specific artificial intelligence (AI) and machine learning (ML) models to enhance productivity, operational efficiency, and increase asset value. DS365.ai runs on the OSDU™ Data Platform and uses the interoperable and scalable architecture of iEnergy® Cloud. This allows
Oil and Gas 360 Industry leaders align to innovate and accelerate the deployment of technology to drive the next wave of operational safety, efficiency and environmental performance gains OKLAHOMA CITY and HAMILTON, Bermuda, Oct. 28, 2021 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) and Nabors Industries Ltd. (NYSE: NBR) today announced they will enter into a contractual agreement, establishing Nabors as
Reuters Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment. Energy services firms are benefiting from a resumption of drilling driven by rising crude prices, which are up 18% in the latest quarter and
