Oilfield services giants Schlumberger and Halliburton got the ball rolling with second-quarter earnings reports this week. Schlumberger saw an 11% jump in revenue during the quarter compared to a year ago and anticipates double-digit international revenue growth in 2019. It also expects gains in the offshore and exploration segments. However, CEO Paal Kibsgaard said that onshore activity will still be the driving force for business.

Halliburton reported a 24% increase in quarterly revenue, narrowly beating analysts’ estimates. The company has benefited from soaring U.S. oil production which reached a record 11 million barrels per day in July.

On the producer side, Hess raked in more money per barrel in the second quarter and posted a smaller than expected quarterly loss. That’s thanks to higher oil prices. The company’s average realized price of crude jumped 36% per barrel, while production fell to 247,000 barrels of oil equivalent per day.

Higher prices also help ConocoPhillips post earnings per share that were slightly ahead of expectations. The company had adjusted earnings for the quarter of $1.3 billion dollars or $1.09 a share.

Total said its adjusted net profit for the second quarter soared 44% to $3.6 billion, beating analyst estimates.

Norway’s Equinor, formerly Statoil, said its adjusted operating income rose from a year ago but missed forecasts due to higher maintenance costs at its Norwegian fields. But its CFO said its too early to consider a share buyback program.

The U.S. shale industry was given high marks when it comes to growth, Bob Brackett, a senior analyst for Bernstein Research, said while speaking at this week’s Unconventional Resources Technology Conference in Houston. But, he said it fails in terms of return of capital, something that frustrates investors. Improving earnings remains an objective for many. Brackett’s fellow panelist, Occidental Petroleum CEO Vicki Hollub, said making shale plays economic goes back to successfully using R&D. She said, “If you can minimize the trial and error process to maximize your understanding of the data and which parameters really matter, that’s a great way to start to get ourselves on track to faster earnings.”

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