OFS-Oilfield Services - Today in Oil and Gas

Oilfield Service Companies Add More Jobs in November, Trade Group Says

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, OFS-Oilfield Services, Oil, US News / By mark

Oilfield service companies ramped up hiring in November, adding 1,890 jobs in the sector, according to data from trade group Energy Workforce & Technology Council released on Monday. WHY IT’S IMPORTANT Oilfield service hiring can serve as an indicator of the health of the sector. Companies bringing on more employees could imply more drilling to …

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Oilfield Services Provider Flowco Files for U.S. IPO

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By mark

Oilfield services provider Flowco Holdings said on Friday it has filed for a U.S. initial public offering, the latest to capitalize on the recent revival in investor appetite for newly listed stocks. The U.S. IPO market, which had largely avoided large deals for nearly three years, is experiencing a revival as improving investor sentiment and …

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Liberty Energy Names Successor After Trump Picks CEO Wright as Energy Secretary Nominee

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By mark

U.S. oilfield services firm Liberty Energy said on Monday it plans to appoint Ron Gusek as its CEO if current Chief Executive Chris Wright is confirmed as the U.S. Secretary of Energy. President-elect Donald Trump named Wright, who founded Liberty in 2011, as his pick to lead the energy department on Saturday. Wright’s appointment is …

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Elliott Amasses $5 Billion-Plus Stake in Honeywell

Energy Topics & Technology, Latest, Mergers and Acquisitions, OFS-Oilfield Services, US News / By mark

Investment is the largest ever in a single stock for Elliott Honeywell urged to consider breaking up like industrial peers Elliott Investment Management has built a $5 billion-plus position in Honeywell International Inc. and is pushing the industrial giant to pursue a break up. The activist investment firm wants Honeywell to separate into two standalone companies, one focused …

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Halliburton Misses Quarterly Profit Estimates on North America Drilling Demand Weakness

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By mark

(Reuters) – Halliburton fell short of analysts’ estimates for third-quarter profit on Thursday, as a slowdown in drilling activity in North America weighed on demand for its oilfield services and equipment. Producers have kept a tight lid on production in North America since the downturn in oil prices in 2020 and weak natural gas prices. North …

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Baker Hughes Awarded Contracts to Supply Petrobras with Flexible Pipe Systems, Associated Services across Several Fields

Conventional Energy, Latest, OFS-Oilfield Services, Renewable Energy / By mark

Company to support projects in Brazil’s pre-salt fields, reinforcing position as a leading provider of flexible pipe for deepwater and high CO2 projects Local manufacturing boost Brazilian economy, strengthen energy supply chain HOUSTON and LONDON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday significant contracts with Petrobras to …

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SLB Warns Cautious Oil Explorers Have Slowed Growth in Spending

Conventional Energy, Energy Topics & Technology, EnergyNow News and Press Releases, Exploration & Production, Latest, OFS-Oilfield Services, Oil, US News / By mark

Company expects to beat goal of $3 billion in investor returns Schlumberger is often a bellwether for oil and gas industry SLB headquarters in Houston.Photographer: Mark Felix/Bloomberg SLB, the world’s biggest oilfield services provider, warned that spending growth by oil explorers has waned in the past few months as customers take a cautious approach amid …

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SLB Beats Quarterly Profit Estimates on Steady International Business

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By mark

Oct 18 (Reuters) – Oilfield services firm SLB’s (SLB.N) third-quarter profit rose 13% and beat analysts’ estimates on Friday on steady demand for its equipment and technology in international market and from offshore projects in North America. However, the company warned of limited spending by international producers in a weak oil price environment. SLB, which gets 81% …

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Oilfield Services Firm Nabors Industries to Buy Parker Wellbore

Energy Topics & Technology, Latest, OFS-Oilfield Services, US News / By mark

Nabors Industries on Tuesday agreed to buy drilling services provider Parker Wellbore as the oilfield services company aims to expand its global drilling business. The company would acquire Parker Wellbore for 4.8 million shares of Nabors’ common stock, subject to a share price collar, and the assumption of net debt of about $100 million. As …

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Shale-Production Costs Seen Rising 2.8% in 2025, Enverus Says

Conventional Energy, Energy Topics & Technology, Fracking, Latest, OFS-Oilfield Services, US News / By mark

Oilfield-service costs for US shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. This year’s reduction in drilling and fracking, combined with the push to max out efficiencies, are seen lowering per-well …

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