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Results next week will likely provide a peek into how the world’s top three oilfield services companies are navigating the uncertainty fueled by the on-again, off-again U.S. tariffs, as well as a recent slide in oil prices. President Donald Trump promised to increase U.S. oil and gas production, campaigning on the motto of “drill baby …
US Oilfield Services Firms Brace for Earnings as Tariffs Cloud Outlook Read More »
Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday …
Liberty Energy CEO Gusek Sees Modest Impact of Steel Tariffs on Oilfield Services Read More »
Britain’s competition regulator said on Thursday that oilfield services company SLB’s proposed $8 billion deal to buy smaller rival ChampionX could result in a substantial lessening of competition within the UK. The deal would be referred for an in-depth probe unless SLB and ChampionX offer remedial measures, UK’s Competition and Markets Authority (CMA) said, adding …
UK Antitrust Watchdog Says SLB-ChampionX Deal Could Lessen Competition Read More »
HOUSTON, Feb. 28, 2025 (GLOBE NEWSWIRE) — Superior Energy Services, Inc (“Superior”) announced the acquisition of Rival Downhole Tools (“Rival”), an industry-leading provider of premium downhole drilling tools. “This acquisition is part of Superior’s ongoing efforts to expand our position in the oilfield services sector by providing technologies that enhance our customers’ efficiencies and reduce …
Superior Energy Services Acquires Rival Downhole Tools Read More »
Summary Canada sends 90% of oil exports to US refiners Canadian drilling sector still not recovered from decade of job losses Retaliatory tariffs would raise cost of drilling inputs CALGARY, March 3 (Reuters) – Canada’s oilfield drilling and services sector is already showing signs of slowing due to U.S. President Donald Trump’s threatened tariffs, triggering …
Trump’s Tariffs Threat Hits Canada’s Oil and Gas Drillers Read More »
U.S. oilfield services firm SLB said on Tuesday it now expects its buyout of ChampionX to close by the end of the first quarter or early the second quarter of 2025. SLB is legally permitted to close the all-stock transaction – now worth $5.82 billion – in the U.S., but it has been held up …
SLB Delays ChampionX Deal Closure to Early Second Quarter Read More »
ChampionX expects new U.S. import tariffs on steel and aluminium to drive up equipment costs for oilfield service firms, a company official said on Tuesday. U.S. President Donald Trump raised tariffs on steel and aluminium imports on Monday to a flat 25% “without exceptions or exemptions” in a move he hopes will aid the struggling …
New U.S. Metals Tariffs to Drive up Oilfield equipment Costs, ChampionX Exec Says Read More »
(Reuters) – Britain’s competition regulator said on Wednesday it has launched an inquiry into oilfield services company SLB’s proposed $8 billion deal to buy smaller rival ChampionX. The Competition and Markets Authority (CMA) said it is looking at whether the deal, which was announced last April, would raise competition concerns in any UK markets. It …
UK Competition Regulator Launches Inquiry Into $8 Bln SLB-ChampionX Deal Read More »
(Reuters) – Halliburton on Wednesday warned of softer activity in North America this year even as the oilfield giant beat analysts’ estimates for fourth-quarter profit helped by higher demand for drilling and pressure pumping services in the North Sea and Asia. The tepid outlook echoed that of rival Schlumberger, who flagged a flat 2025 revenue …
Summary Q4 adjusted profit 92 cents per share vs forecast 90 cents Q4 revenue $9.28 billion vs forecast $9.18 billion Shares up more than 2% in premarket trade (Reuters) – SLB (SLB.N), opens new tab raised its quarterly dividend and accelerated share repurchases on Friday after the oilfield services provider posted better than expected fourth-quarter …
SLB Boosts Dividend and Buybacks After Q4 Beat Expectations Read More »
