Category: Oil field services

Illinois state agency issues fracturing rules

he lengthy report follows months of delays and complaints over the process to draft rules governing hydraulic fracturing, or fracking, in Illinois. Industry officials say southern Illinois has rich deposits of natural gas, but a final draft of the rules — initially touted as a national model of both sides working together — has taken months for the agency to produce as industry groups warned the state was losing business.  More »

Feds to resume leasing for fracturing in California

The move will end a halt that has stood since a federal judge ruled in 2013 that the federal agency failed to follow environmental law in allowing fracking on public land in Monterey County.  More »

Drillers in Colorado especially mindful of the neighbors

Producers are finding ways to centralize oil field operations in a bid to boost efficiencies, cut costs and minimize disruptions for residents in the populous Colorado Front Range.  More »

Schlumberger: Russian sanctions could affect profits

Schlumberger is the third international oil field services company with Houston operations to warn that U.S. and European Union sanctions against Russian may start hurting profit.  More »

Paragon Offshore completes spinoff from Noble Corp., begins trading

Paragon Offshore became Houston’s latest publicly-traded company Monday morning when it began trading on the it began moving on New York Stock Exchange after completing its separation from Noble Corp.  More »

Companies at work on blowout preventers for deeper depths

GE Oil & Gas and others are working to create blowout preventers that can work at deeper depths and higher pressures.  More »

NOV profits up 17 percent

Oil gas equipment provider National Oilwell Varco’s profits increased nearly 17 percent in the second quarter, the first full quarter since CEO and president Clay Williams took the reins of the Houston-based company.  More »

Weatherford shares rise on mixed Q2 report

Weatherford International posted larger second-quarter losses as revenues declined from operations in the Middle East, North Africa and Asia, the company reported Thursday.  More »

North American production bolsters Halliburton profits 21 percent

Halliburton cleared a 21 percent profit boost in the second quarter as demand for oil production equipment climbed in North America and drills kept spinning in the eastern hemisphere, the company said Monday.  More »

Schlumberger reports profit drop amid overall sales growth

Schlumberger’s profit fell 24 percent in the second quarter despite a revenue increase.  More »

Baker Hughes earnings up 47 percent

Oilfield service company Baker Hughes’ profits rose 47 percent in the second quarter amid unprecedented demand for its services in North America, the company said Thursday morning.  More »

Report: 10 percent more Eagle Ford wells this year

Operators working in the Eagle Ford Shale started drilling 2,364 new wells in the first six months of the year, according to the latest Baker Hughes Well Count.  More »
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