Post Tagged with: "Schlumberger"

Source: Reuters

Halliburton slashes dividend by 75% in latest move to save cash

Reuters


Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March.

U.S. oil prices …

(left) Schlumberger's drilling operator Adrian Gabriel (cq) is directly in charge of drilling operation on the Genesis Drilling Test Facility where other employees train with a real life size drilling simulator which was commissioned in 1986 at company's U.S. headquarters in Sugar Land and continues to train on Wednesday, September 27, 2006. Schlumberger is the world's largest oilfield services company and has had a local presence since the 1930s; it recently consolidated its New York offices in Houston. Schlumberger is coming off a record quarter and anticipates solid financial growth as profit-rich oil companies invest more in exploration. Photo by Mayra Beltran / Houston Chronicle

Schlumberger’s $7.4B loss sets stage for ‘most uncertain’ future

Chron


Schlumberger, the largest oil field service company, said Friday it lost $7.4 billion in the first quarter. Then its CEO said the second quarter will be worse.

The company attributed the loss to writing down the value of assets …

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: Reuters

U.S. shale oil output growth will slow in 2020: Schlumberger CEO

Reuters


RIYADH – The growth in U.S. shale oil production will slow to 600,000 to 700,000 barrels per day in 2020 and to 200,000 bpd in 2021, the chief executive of U.S. oilfield services giant Schlumberger said on Tuesday.

U.S. …

February 25, 2020 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
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 …

Source: Houston Chronicle

Schlumberger grows global headcount despite U.S. layoffs

Houston Chronicle


Oilfield service giant Schlumberger grew its global headcount in 2019 despite finishing the year with a $10.1 billion loss and laying off 1,400 workers in the United States.

In a Wednesday morning filing with the U.S. Securities and …

Source: Reuters

U.S. grants Chevron another three months for Venezuela operations

Reuters


CARACAS – The U.S. Treasury Department on Saturday granted permission for Chevron Corp, the last major U.S. oil company operating in Venezuela, to continue working in the country until April 22.

The United States last year imposed sanctions that …

Source: Houston Chronicle

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
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
Photo: Mayra Beltran

Schlumberger posts $11.4 billion loss amid hefty pretax charges

Source: Houston Chronicle


The world’s largest oil field service company beat Wall Street expectations on revenue but got stung by pretax charges that resulted in a multibillion loss for stockholders during the third quarter.

Schlumberger reported a $11.4 billion loss …

October 18, 2019 - 7:30 am Closing Bell Story‎, Company Earnings, Oilfield Services
Courtesy of Enbridge

Oil Services Firm TechnipFMC to Split Into Two Publicly Traded Companies

From Reuters


Franco-American oil services firm TechnipFMC Plc (FTI.N) said on Monday it would spin off its engineering and construction operations into a separate company, leaving it as a technology-focused equipment supplier to oil and gas companies.

TechnipFMC, which had …

Paal Kibsgaard (source: Schlumberger Limited)

Former Schlumberger CEO Recommended for Chairman Role at Borr Drilling

By Tyler Losier, Energy Reporter, Oil & Gas 360

Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman
The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda,

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

From Reuters


General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%.

Revenue in the oilfield …

New CEO, Chairman at Schlumberger

New CEO, Chairman at Schlumberger

By Tyler Losier, Energy Reporter, Oil & Gas 360

Schlumberger appoints Olivier Le Peuch as CEO, Mark G. Papa as non-executive chairman of the board
Schlumberger Limited (stock ticker: SLB), the largest public oilfield services company in the world by

Schlumberger Looks to International Activity For 2019 Growth

Schlumberger Looks to International Activity For 2019 Growth

Slow capital spending since 2014 must be made up for
New international discoveries in 2018 hit the lowest level since 2000
SLB sees North American E&P investments falling 10% in 2019
By Richard Rostad, analyst, Oil & Gas 360

Schlumberger

Service Giants May Offer Signs of Recovery During Earnings

Service Giants May Offer Signs of Recovery During Earnings

From Bloomberg

It’s been a tough few years for Schlumberger Ltd. and Halliburton Co., but the oilfield services giants may finally be on an upward curve, thanks to a recovery in international drilling activity and signs of something similar …

Schlumberger To Stop Taking New Field-Management Projects

Schlumberger To Stop Taking New Field-Management Projects

From Reuters

Schlumberger NV, the world’s largest oilfield services provider, will stop taking new field management contracts, which have been criticized for their heavy upfront investment, while it seeks to sell off some existing deals, its chief executive officer said …

The C-Suite Changes at Schlumberger

The C-Suite Changes at Schlumberger

Schlumberger (NYSE: SLB) has named Olivier Le Peuch as Chief Operating Officer effective immediately.

Le Peuch will be responsible for the day-to-day management of all worldwide operations for the oilfield services company.  SLB CEO Paal Kibsgaard said Le Peuch is

Schlumberger CEO Discusses U.S. Shale Slowing, International Activity Growing

Schlumberger CEO Discusses U.S. Shale Slowing, International Activity Growing

North American revenue down 12% sequentially
Schlumberger (stock ticker: $SLB) kicked off the quarterly earnings season today, announcing net earnings of $538 million, or $0.39 per share.

Schlumberger’s Q4 2018 results present a mixed comparison to its Q4 2017 results.

Schlumberger Delivers Lump of Coal With Year-End Forecast

Schlumberger Delivers Lump of Coal With Year-End Forecast

From Bloomberg

The North American fracking market — already expected to be a downer for the holidays — is turning out to be even worse than expected, according to the world’s biggest oil-service provider.

Schlumberger Ltd. expects sales in the …

December 5, 2018 - 1:52 pm Closing Bell Story‎, Energy News
Halliburton’s Guided Tour of the U.S. Basin Slowdowns

Halliburton’s Guided Tour of the U.S. Basin Slowdowns

Frac market temporarily weakening
Like oilfield services giant Schlumberger (ticker: SLB) reported on Friday, this week Halliburton (ticker: HAL) said it too is seeing a slowdown in the overall U.S. frac landscape.

The company saw a slight increase in revenue

Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Kibsgaard says several key customers said they will lay down all their frac fleets from middle November until middle January
No slowdown in international
Houston-based oilfield services giant Schlumberger (ticker: SLB) reported its Q3 results Friday and CEO

Schlumberger Sees Sequential Revenue Increase

Schlumberger Sees Sequential Revenue Increase

Schlumberger (NYSE: SLB) reported results for the second quarter of 2018 highlighted by sequential revenue increases and the mobilization of 29 new rigs for its international drilling business.

The company also said it had removed one complete layer of its …

Schlumberger Introduces New Perforating Gun System

Schlumberger Introduces New Perforating Gun System

Schlumberger’s (ticker: SLB) wireline group has come out with a new technology system that it says will allow operators to more cleanly perforate a well. The company’s new ‘Tempo’ is an instrumented docking system that delivers real-time measurements in perforating …

Schlumberger: First Out of the Box

Schlumberger: First Out of the Box

SLB: says will exit seismic acquisition market; posts almost a billion-dollar write down for Venezuela

Schlumberger Limited (ticker: SLB) reported its results for fourth quarter and full-year 2017.

Highlights

  • Fourth quarter revenue of $8.2 billion, increased 3% sequentially
  • Fourth quarter
Well Completions JV with Weatherford and Schlumberger Checks Off DOJ Clearance

Well Completions JV with Weatherford and Schlumberger Checks Off DOJ Clearance

Weatherford International plc (ticker: WFT) said that the U.S. Department of Justice has cleared the proposed OneStimSM joint venture between two oilfield service giants—Weatherford and Schlumberger Ltd. (ticker: SLB)—granting early termination of the waiting period required by the Hart-Scott-Rodino …

November 30, 2017 - 4:58 pm Closing Bell Story‎, Energy News, Oil and Gas 360 Articles
Schlumberger Leads Off Q3 Earnings Rush

Schlumberger Leads Off Q3 Earnings Rush

Kibsgaard: Market is now in balance, look for upward movement in oil prices and growth in E&P investment 

Earnings season is here for Q3, and the oil and gas industry got off to a strong start with Schlumberger (ticker: SLB) …

Cenovus Inks CAD $1.3 Billion Deal to Sell Palliser Assets to Schlumberger, Torxen

Cenovus Inks CAD $1.3 Billion Deal to Sell Palliser Assets to Schlumberger, Torxen

Current production of 54,000 BOEPD – SLB, Torxen plan 1,600 well program starting in 2018

Cenovus Energy Inc. (ticker: CVE) said it will sell its Palliser crude oil and natural gas assets in southeastern Alberta to privately held Torxen Energy …

Low Investment has Led to Unsustainable Production Management – Schlumberger

Low Investment has Led to Unsustainable Production Management – Schlumberger

 “The current situation is not sustainable” – Schlumberger CEO Paal Kibsgaard

Production has held up well over the downcycle, but headline numbers of absolute production volume are masking an underlying problem that could soon hit the oil and gas industry, …

Golar and Schlumberger Form LNG Joint Venture

Golar and Schlumberger Form LNG Joint Venture

Companies say 40% of the world’s gas reserves can be classified as stranded; Golar and Schlumberger plan to employ FLNG to monetize stranded gas

Global LNG shipper Golar LNG Limited (ticker: GLNG) and the world’s largest oilfield service company Schlumberger …

July 25, 2016 - 3:43 pm Closing Bell Story‎, LNG, Oil and Gas 360 Articles