oil field services

Oil services firms face $110B in debt — and the bill is coming due

Posted by Collin Eaton
|Date: August 09, 2016

Oil services firms face $110B in debt — and the bill is coming due

HOUSTON – Oil equipment companies have a lot riding on the sputtering market recovery. During the next fi ...

HOUSTON – Oil equipment companies have a lot riding on the sputtering market recovery. During the next five years, they’ll have to pay off about $110 billion in maturing debt. So unless energy prices ...

August 09, 2016
| by Collin Eaton

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Some drillers set to boost spending as oil rises, Evercore says

Posted by Collin Eaton
|Date: June 03, 2016

Some drillers set to boost spending as oil rises, Evercore says

HOUSTON – The long financial drought that has deeply bruised energy service companies may be nearing an e ...

HOUSTON – The long financial drought that has deeply bruised energy service companies may be nearing an end. As oil prices hover near $50 a barrel, record oil company spending cuts the past two years ...

June 03, 2016
| by Collin Eaton

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Schlumberger chief: Oil services crisis isn’t just oil prices

Posted by Robert Grattan
|Date: March 21, 2016

Schlumberger chief: Oil services crisis isn’t just oil prices

The oil service industry needs a fundamental shift in the way it approaches working with exploration and ...

The oil service industry needs a fundamental shift in the way it approaches working with exploration and production companies if it's to thrive again, the CEO of Schlumberger warned Monday. ...

March 21, 2016
| by Robert Grattan

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Weatherford to cut 6,000 jobs in first half of 2016

Posted by Collin Eaton
|Date: February 03, 2016

Weatherford to cut 6,000 jobs in first half of 2016

The job cuts will have brought the company’s workforce down by 20,000 since the oil-market crash began in ...

The job cuts will have brought the company’s workforce down by 20,000 since the oil-market crash began in 2014. ...

February 03, 2016
| by Collin Eaton

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Halliburton poised to offer Baker Hughes deal concessions to EU

Posted by Bloomberg
|Date: February 03, 2016

Halliburton poised to offer Baker Hughes deal concessions to EU

The company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline f ...

The company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline for reviewing the deal by 20 working days to June 23. ...

February 03, 2016
| by Bloomberg

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NOV records $1.5 billion net loss for the fourth quarter

Posted by Jordan Blum
|Date: February 03, 2016

NOV records $1.5 billion net loss for the fourth quarter

The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also r ...

The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges. ...

February 03, 2016
| by Jordan Blum

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Cameron profits tumble 43 percent

Posted by Rhiannon Meyers
|Date: January 28, 2016

Cameron profits tumble 43 percent

Cameron's subsea business posted an 85 percent increase in operating income despite lower revenues. ...

Cameron's subsea business posted an 85 percent increase in operating income despite lower revenues. ...

January 28, 2016
| by Rhiannon Meyers

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Baker Hughes loses $1 billion in the fourth quarter

Posted by Rhiannon Meyers
|Date: January 28, 2016

Baker Hughes loses $1 billion in the fourth quarter

The company forecasts additional tough times in 2016 as crude prices remain stuck around $30 a barrel. ...

The company forecasts additional tough times in 2016 as crude prices remain stuck around $30 a barrel. ...

January 28, 2016
| by Rhiannon Meyers

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Flotek releases report refuting criticism that it manipulated data

Posted by Rhiannon Meyers
|Date: January 27, 2016

Flotek releases report refuting criticism that it manipulated data

The Houston-based oil field services company launched an investigation of its chemicals and data analysis ...

The Houston-based oil field services company launched an investigation of its chemicals and data analysis software after an Australian fund manager in November disputed the accuracy of Flotek's self-r ...

January 27, 2016
| by Rhiannon Meyers

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Halliburton sheds another 4,000 jobs

Posted by Rhiannon Meyers
|Date: January 25, 2016

Halliburton sheds another 4,000 jobs

Collapsing commodity prices have spurred a retreat from the oil patch in the U.S. and around the world. ...

Collapsing commodity prices have spurred a retreat from the oil patch in the U.S. and around the world. ...

January 25, 2016
| by Rhiannon Meyers

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Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

Posted by Jordan Blum
|Date: January 22, 2016

Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

While Schlumberger's CEO said he wants the industry to rebound soon, he said the longer the downturn last ...

While Schlumberger's CEO said he wants the industry to rebound soon, he said the longer the downturn lasts "the stronger we will emerge relative to our competition." ...

January 22, 2016
| by Jordan Blum

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Schlumberger cut thousands of jobs in fourth quarter on $1 billion loss

Posted by Jordan Blum
|Date: January 21, 2016

Schlumberger cut thousands of jobs in fourth quarter on $1 billion loss

The oil crash has triggered the largest job cuts in oil field services, and Schlumberger has now eliminat ...

The oil crash has triggered the largest job cuts in oil field services, and Schlumberger has now eliminated about 34,000 jobs globally — a more than 25 percent reduction since its peak of nearly 130,0 ...

January 21, 2016
| by Jordan Blum

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