Reuters Oilfield firm Baker Hughes Co reported quarterly profit that fell short of analyst expectations on Wednesday, in part due to global supply chain issues, sending its shares down sharply in early trading. Oil service firms are expected to be supported by a rebound in oil prices to pre-pandemic levels as demand recovers and the Organization of the Petroleum Exporting
Reuters U.S. oilfield firm Halliburton Co on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil prices and drilling activity boost demand for services and equipment. Oil prices have rallied to multi-year highs with global crude futures climbing 4.5% in the quarter ended Sept. 30, helped
World Oil HOUSTON – Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations. The platform’s digital architecture supports automation, machine learning, and artificial intelligence for reservoir evaluation, faster drilling, and consistent well delivery. The iStar platform acquires high-definition measurements closer to the bit and
World Oil HOUSTON and LONDON – Panametrics, a Baker Hughes business, has made its flare control and digital verification platform, flare.IQ, available to upstream operators for the first time. Flare.IQ was originally launched in 2017 to support oil and gas downstream operations, but a new feature enables upstream operators to better understand their flare emissions footprint. It will also improve
CNBC The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead. In an interview with CNBC’s Dan Murphy at the Gastech conference in Dubai, United Arab Emirates earlier this week, Lorenzo Simonelli was
World Oil HOUSTON – Oilfield Helping Hands (OHH), a non-profit organization helping oilfield families in financial crisis due to no fault of their own, has opened a Haynesville Chapter, to include East Texas and Northwest Louisiana. By opening an active chapter in the Haynesville geographic region, even more upstream oil industry employees will be able to meet the eligibility criteria for
World Oil America’s energy technology and services sector added an estimated 6,082 jobs in July, a fifth straight month of growth, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council (Council). The 1.0% growth comes after the sector added more than 32,000 positions over the preceding four months after
Reuters Billionaire oilman Dan Wilks increased his stake in NexTier Oilfield Solutions, according to a regulatory filing on Thursday, his latest purchase in the hard-hit oilfield services industry. Oilfield equipment and service companies were among the worst performing sector of the energy business as the COVID-19 pandemic cut oil demand. Wilks, who made his fortune on the U.S. shale boom
World Oil HOUSTON – Baker Hughes has been awarded a contract from Chevron Australia Pty Ltd to deliver subsea compression manifold technology for the Jansz-Io Compression (J-IC) Project. Driven by Baker Hughes’ Subsea Connect early engagement approach, Baker Hughes will provide Chevron with a subsea compression manifold structure (SCMS) including module and foundation, as well as the latest optimized version
World Oil HOUSTON– Halliburton Company and VoltaGrid LLC announced the first successful deployment of an advanced electric fracturing solution. This project is the first pad in a multi-year contract with Chesapeake Energy Corporation with more than 140 stages in the Marcellus. It combines Halliburton’s all-electric fracturing spread featuring the Zeus 5,000 horsepower electric pumping unit with VoltaGrid’s advanced power generation
Global revenue of $5.6 billion increased 8% sequentially International revenue wa…
Orders of $5.1 billion for the quarter, up 12% sequentially and up 4% year-over-yea…
