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Schlumberger Posts Quarterly Loss as Oil Rout Triggers $3.7 Billion Charge
Oilfield services giant Schlumberger on July 24 reported its second straight quarterly loss after recording a $3.7 billion charge related to thousands of job cuts and a major pipeline outage in Ecuador.
US Fracking Set for First Monthly Rise This Year; Permian Leads Recovery
The running rate of frac activity in the Permian has shifted from 15 to 20 wells per week in May and June, to 40 to 45 wells per week in the last three weeks. Last week, week 29, activity was particularly strong with 63 started frac operations based on our preliminary estimates. This level of activity has not been seen in the Permian since early April this year.
PATH FORWARD: NexTier Oilfield Solutions CEO Talks Recovery, US Shale’s Global Role
NexTier Oilfield Solutions CEO Robert Drummond joins Hart Energy editors for a conversation centered on his outlook for the oilfield services sector’s recovery on the other side of this downturn.
Analysts Highlight Strategy for OFS Sector Survival
Data-driven decision-making and streamlining are among the recommended practices for the services sector.
ConocoPhillips Narrows Digital Strategy on Low-cost Supply Resources
The U.S. independent producer’s laser focus on low cost of supply resources has had a significant impact on its technology roadmap, CTO Greg Leveille says.
ProPetro Estimates Frac Fleets in Permian Basin Slumps to 20
While a recent rebound in oil prices has some E&P companies restarting activity, ProPetro CEO Phillip Gobe warned current pricing remains unprofitable for service firms.
Patterson-UTI Looks to Future by Growing Technology Focus
Patterson-UTI is counting on its balance sheet to get it through tough times and its technology to push toward potential market share gains.
Basic Energy Launches Automated Water Management Solution with Permian Operator
Basic Energy Services Inc. has successfully tested an automated water management solution with a major U.S. operator, the company said on May 8.
Bosch Rexroth Wins Spotlight On New Technology Award from OTC
Bosch Rexroth’s subsea valve actuator enables the electrification of subsea production systems not only for the development of greenfields, but also for the modernization of brownfields.
ResFrac Closes Equity Financing with Altira Group, Launches New User Interface
ResFrac Corp., an innovative simulation software provider, said May 5 that the company has closed a preferred share financing with its financial sponsor Altira Group.