Posts filtered on Tag


(Johnny Hanson/Houston Chronicle file photo)

Halliburton, Baker cut workforces deeper, bringing layoffs to 27,000

Halliburton has cut nearly 14,000 jobs and Baker Hughes has laid off 13,000 employees since they began trimming their headcounts last year to cope with the oil-market crash, officials said Monday.
Paal Kibsgaard, chairman and chief executive officer of Schlumberger Limited, pauses during a panel session at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on Friday, June 19, 2015. SPIEF is an annual international conference dedicated to economic and business issues which takes place at the Lenexpo exhibition center June 18-20. (Andrey Rudakov/Bloomberg)

Schlumberger CEO: New technology appetite growing amid oil downturn

The CEO of Schlumberger says American oil producers are purchasing a lot more new technology in this year’s oil downturn than in previous rough patches, with new tools making up almost a quarter of the company’s revenue.
Robert Drummond, President of Schlumberger North America (left) and Jeremy Aumaugher, South Division Operations Manager (Tom Reel/ San Antonio Express-News)

Schlumberger profit falls on oil slump, beats estimate

The company’s earnings show how much worse the American drilling slump got in the second quarter, as its sequential North American revenues fell from $3.2 billion in the first quarter to $2.4 billion in the second quarter, about 25 percent.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Oil field outlook bleak as earnings expected to come in lower

U.S. crude’s recent fall to $51 a barrel is making a widely anticipated recovery in domestic drilling much more tenuous, bringing lower profits and probably even more job cuts to oil field service companies, analysts say.
(Andrey Rudakov/Bloomberg)

Eurasia Drilling slumps as Russia fails to rule on Schlumberger deal

Russia’s foreign-investment commission met Thursday yet didn’t make a decision on Schlumberger’s bid, Natural Resources Minister Sergei Donskoi said by phone, without giving a reason.
Workers prepare two compressor modules for OneSubsea’s multiphase compressor. (OneSubsea)

Houston subsea company awarded big contract for North Africa gas project

This award is the second part of a natural gas project and spans 13 deep-sea wells, and is the largest contract for work on subsea production systems in North Africa, Cameron International CEO Jack Moore said in a written statement.
Patrick Schorn, president of operations and integration for Schlumberger (Courtesy Schlumberger)

OTC Commentary: Contractors will have to offer bundled services, rather than discrete, to continue to compete

Changes in technology are also transforming the way contractors work with operators, Schlumberger exec Patrick Schorn.
Halliburton's 2,000-horsepower hydraulic fracturing truck is parked at the Offshore Technology Conference in Houston this week.

In flood of subsea tools, shale-busting tech draws eyes at OTC

High-horsepower pumps and big hydraulic fracturing trucks, the primary tools used to bust open U.S. shale rock, have carved out parking spaces of their own at the Offshore Technology Conference in Houston.
A Schlumberger engineer prepares Quanta Geo imaging sensors for a deepwater logging operation. (Courtesy of Schlumberger)

OTC Tech Award: Schlumberger’s Quanta Geo gives a microscopic view to the inside of wellbores

If a picture is worth a thousand words, an image from Schlumberger’s Quanta Geo might be worth a million.
(AP Photo/Brennan Linsley)

Schlumberger CEO lays out his plan to weather the crude crash

The growing re-fracturing business is one that could boost Schlumberger’s suffering bottom line amid tumbling commodity prices.