The coalition secured the Omar oilfield, Syria's largest oilfield, this month.
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Ghawar oilfield, the world's largest onshore oilfield is under the southern area's operations.
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The city of 21.04,0000 rests on the Permian oilfield, the largest oilfield in the United States.
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Its 2018 annual report named oilfield services firms Keane Group, now called NexTier Oilfield Solutions Inc NEX.
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Its 2018 annual report named oilfield services firms Keane Group, now called NexTier Oilfield Solutions Inc, and Halliburton as its two largest sand customers.
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Less than a year ago conglomerate General Electric Co combined its oilfield business with Baker Hughes, creating the second largest oilfield services company by revenue.
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The joint Khafji oilfield was shut in October 2014 for environmental reasons, while the Wafra oilfield has been shut since May 2015 due to operating difficulties.
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Advantage Oilfield Services, an oilfield firm from Lindsay, Oklahoma, is liquidating its equipment next week, according to a notice from Superior Energy Auctioneers, an industry auctioneer.
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Advantage Oilfield Services, an oilfield firm from Lindsay, Oklahoma, is liquidating its equipment next week, according to a notice from Superior Energy Auctioneers, an industry auctioneer.
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Liberty Oilfield Services, which specializes in hydraulic fracturing of shale wells to released trapped oil and gas, is the first oilfield services company to go public this year.
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It has a 50 percent stake in the giant Perla gas field, a 40 percent stake in the Junin 5 oilfield and owns 26 percent of the Corocoro oilfield.
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"The risk for a number of (oilfield service) firms is to the downside," said Brad Handler, a Jefferies equity analyst in New York who follows the oilfield service sector.
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Exxon's foreign staff were present, having returned to the oilfield on June 2, two weeks after Exxon pulled about 60 people from the oilfield and flew them to Dubai.
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Halliburton Co, the No.2 oilfield services provider, said on Wednesday that oil prices would have to stabilize at above $50 per barrel for producers to meaningfully increase oilfield activity.
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Pressure pumper Liberty Oilfield Services in mid-January was the first oilfield service firm to go public this year, following a drought of IPOs in the second half of 2017.
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Six new projects, including the Egina oilfield in Nigeria and the Huizhou 13-5 oilfield in the South China Sea, are expected to come on stream in 2019, the company said.
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CNOOC expect to bring six new projects, including the Egina oilfield in Nigeria and the Huizhou 32-13 oilfield in the South China Sea, on stream in 2019, the company said.
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Oilfield suppliers are continuing to recover slowly from a brutal three-year downturn as U.S. crude CLc1 prices climb above $60 a barrel, stirring demand for their oilfield equipment and services.
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NOC said the shutdown would result in a production loss of 315,000 barrels per day (bpd) at its biggest oilfield, and an additional loss of 73,000 bpd at the El Feel oilfield.
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They will consider using CNOOC's engineering arms, Offshore Oil Engineering Co Ltd and China Oilfield Services Ltd, as contractors for design, purchase and construction as well as oilfield service providers for ADNOC.
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CNOOC also said it made a large discovery in the Kenli 6-1 oilfield in Bohai Bay and has started production at the Bozhong 34-9 oilfield, south of the Bohai Sea.
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France's Total on Monday won a 30 percent stake in a new 25-year contract to operate the Al-Shaheen oilfield, a blow to Maersk, which has been operating the oilfield since 1992.
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The oilfield produced some 9,500 barrels per day in August.
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Amid the climb, some traders looked to oilfield services stocks.
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Oilfield services companies in particular may be poised for restructuring.
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O and oilfield services provider Forbes Energy Services Ltd FESL.
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The territory has offshore fishing, phosphate reserves and oilfield potential.
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He seized towns and a big oilfield with little bloodshed.
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Shares of oilfield services provider Schlumberger closed up 7.13 percent.
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HOUSTON (Reuters) - U.S. oilfield services company Weatherford International Plc WFT.
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On the mainland, China Oilfield was up by 2096.90 percent.
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El Feel oilfield production would reach 80,000 bpd, it said.
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Mining, oilfield and gas field machinery orders fell 8.3 percent.
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SINGAPORE (Reuters) - Singapore oilfield services firm Swiber Holdings Ltd (SWBR.
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HOUSTON (Reuters) - Shares of oilfield services firm Weatherford International WFT.
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BP is developing Rumaila, Iraq's biggest oilfield, in the south.
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The area has offshore fishing, phosphate reserves and oilfield potential.
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Mining, oilfield and gas field machinery orders surged 8.5 percent.
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Some oilfield firms have moved to lower their own costs.
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Oilfield services firm Swiber Holdings is also under judicial management.
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Many blue collar jobs in oilfield equipment production have disappeared.
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Production was not disrupted, a manager at the oilfield said.
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More than 50 percent involved employees of oilfield service companies.
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Libya's 3.066,22015 barrels per day (bpd) Sharara oilfield and 29.27,000 bpd El Feel oilfield have restarted after the end of protests that had blocked pipelines there, a Libyan oil source and local official said.
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With oil prices now recovering and bolstering demand for rigs and other oilfield services, Pioneer Energy said prices for oilfield services had modestly risen and were expected to continue to improve through the year.
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OIL-MAJORS-SHALE/ How BP found shale profits with 'crystal ball' oilfield technology LUFKIN, Texas/LONDON (Reuters) - In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's (BP.
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Sinopec is hoping Shell's expertise in shale oil exploration could help the Chinese state major turn around its fortunes at Shengli oilfield as the reserves at the giant conventional oilfield are depleting rapidly, said Rodger.
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The Katy, Texas-based company estimates it had a 27% market share for the unit in the quarter ended June 30 and is looking to expand its uses in both oilfield and non-oilfield industries.
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The oilfield services company's interim CEO, Krishna Shivram, will leave Weatherford.
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Eberhart is the CEO of oilfield drilling services company Canary LLC.
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The oilfield services company's revenue fell slightly short of analyst forecasts.
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Shatwan also said there were no security issues at any oilfield.
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Kind of like the difference between oil producers and oilfield services.
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Majnoon is now producing around 240,000 bpd, according to oilfield officials.
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Census figures show the steep decline in the oilfield services sector.
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The oilfield, near the border with Venezuela, produces about 50,000 bpd.
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Eurasia Drilling is Russia's largest oilfield services company by meters drilled.
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CHICAGO (Reuters) - U.S. oilfield services company Forbes Energy Services Ltd FESL.
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N) and Jeff Miller, CEO of oilfield services company Halliburton (HAL.
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The restart of Libya's El Sharara oilfield pressured the oil market.
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For example, low-carbon ETFs own oilfield services companies, including Schlumberger.
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Halliburton and rival oilfield services provider Schlumberger, both fell 21.40 percent.
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Eberhart is the CEO of oilfield services firm Canary, LLC. fb.
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That means less work for drilling contractors and oilfield service companies.
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In 1979, he discovered a massive oilfield outside of Evanston, Wyoming.
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The ripple effect will hit oilfield service firms and state budgets.
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What it is: The largest oilfield services company in the world.
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A resumption in output at Libya's Sharara oilfield fed the concerns.
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BTA plans to sell the Kazakh asset, an oilfield, Rakishev said.
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Algerian output declined because of planned oilfield maintenance, industry sources said.
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The Houston-based oilfield company is the largest provider of hydraulic fracturing services in North America, a segment of the oilfield services business that has been hard-hit by overcapacity, making it difficult to raise prices.
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NOC said on Monday that the shutdown of the El Sharara oilfield would result in a production loss of 22018,212.1 barrels per day (bpd), and an additional loss of 43,24 bpd at the El Feel oilfield.
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International revenue from the company's oilfield services unit surged 15.5 percent to $1.83 billion, while total revenue from its oilfield services business, which constitutes roughly half of its total sales, rose a better-than-expected 12 percent.
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Libya's National Oil Company said the shutdown of its biggest oilfield would result in a daily site production loss of 315,000 barrels per day (bpd), and an additional loss of 73,000 bpd at the El Feel oilfield.
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The oilfield services company's revenue also beat estimates as drilling activity escalates.
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NOC has evacuated some staff by plane, engineers at the oilfield said.
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Earlier on Saturday Exxon evacuated its foreign staff from an Iraqi oilfield.
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Schlumberger: The oilfield services company reveals its latest numbers in the morning.
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Algerian output declined for a second month because of planned oilfield maintenance.
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The oilfield resumed production earlier this month having faced two unplanned shutdowns.
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Baker Hughes supplies a variety of oilfield services, products, technology and systems.
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LEA COUNTY, N.M. (Reuters) - As oilfield workers for Lilis Energy Inc LLEX.
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The oilfield services company's revenue fell slightly short of analysts' forecasts, however.
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Hawiyah and Haradh are part of Ghawar, the world's largest onshore oilfield.
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Its chairman, Li Jinyuan, a former oilfield worker, is Tianjin's richest man.
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NEW YORK (Reuters) - Shares of oilfield services company Baker Hughes Inc BHI.
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The combined company would be the world's second-largest oilfield services provider.
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NOC has declared force majeure on crude loadings from the Sharara oilfield.
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Oilfield services providers Schlumberger NV and Halliburton Co fell nearly 3 percent.
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Baker Hughes' revenues were hurt by its oilfield equipment and turbomachinery businesses.
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Analysts at Bernstein said poor economics could lead to more oilfield closures.
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Such pumps can regulate pressure, temperature and other variables in oilfield equipment.
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WASHINGTON (Reuters) - China-based Yantai Jereh Oilfield Services Group Co Ltd (002353.
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CSL has invested in several oilfield service business in the past year.
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In North Dakota's giant Bakken oilfield, the going rate was 11.5 percent.
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Baker Hughes GE oilfield services and equipment revenues declined by $700 million.
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Sanalla said an attack had happened near Zella oilfield earlier on Saturday.
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At closing, the Norwegian company will hold 42.6% ownership in the oilfield.
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Companies that provide oilfield services declined to comment on operations in Venezuela.
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The downturn led oilfield service companies to cut their prices, curtailing profits.
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Petrofac fell 6.6% after the oilfield services provider forecast lower annual revenue.
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" Liberty Oilfield Services: "Look, oil services has been a very tough business.
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Complying with a mid-December order by the government, Albpetrol had already initiated procedures to retake control of the Gorisht-Kocul oilfield and over the next few days was going to repossess the Cakran-Mollaj oilfield, Albpetrol said.
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On Friday, oilfield services firm Baker Hughes reported that U.S. drillers added 12 rigs to U.S. oil fields across the country this week, the biggest increase since the end of May, according to oilfield service firm Baker Hughes.
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"BP and the oil ministry will form a joint team to visit Kirkuk oilfield and study the situation on the ground to survey the oilfield," said the spokesman without giving a timing for when the visit could happen.
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The closure, which was confirmed by an oilfield engineer and separate Libyan oil sources, is a major blow to the North African country a little more than a week after a guards' protest closed the nearby El Feel oilfield.
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Iraqi oilfield officials said Exxon's foreign staff, including senior management and engineers, returned to the oilfield only after the Iraqi government agreed to provide extra security measures at the field, including the deployment of additional police and armed forces.
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Output has risen after the completion of maintenance on the oilfield in May.
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Oilfield services firm Weatherford (WFT) named Halliburton's (HAL) CFO as its new CEO.
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Libyan state oil firm NOC declined to comment on reopening El-Sharara oilfield.
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Schlumberger kicks off the earnings season for oilfield services companies on Oct 20.
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These cuts, however, have put serious pressure on oilfield service companies and drillers.
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Statoil's giant Johan Sverdrup oilfield under development will also be powered from land.
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The closure mothballed the nearby "Elephant" oilfield, which relies on Sharara for electricity.
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Lilis aims to expand production sevenfold this year in America's most active oilfield.
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Its Pedernales oilfield could follow due to similar issues, according to the report.
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Saudi Aramco's chief executive said on Tuesday that the oilfield was back online.
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Until recently, oilfield roughnecks were making more than $100,000 a year on average.
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Its survey polled 60 oilfield service companies in Texas, New Mexico and Louisiana.
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Chinese mainland oil producers ended mostly down with China Oilfield shedding 1.29 percent.
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Chinese mainland oil shares were mostly lower, with China Oilfield losing 0.74 percent.
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Lilis aims to expand production sevenfold this year in America's most active oilfield.
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The surge in drilling activity can be seen in the oilfield service industry.
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It has been looking to sell a stake in Brazil's Peregrino offshore oilfield.
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It employs 576 truck drivers, and carries water, sand, and other oilfield equipment.
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Most oil producers subcontract oilfield services to smaller companies that are not unionized.
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Ecuador needs to keep cutting costs, said Perez, a former oilfield services executive.
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Russia has consistently supported President Nicolas Maduro with financing arrangements and oilfield investments.
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It said production from the nearby El Feel oilfield had not been affected.
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Summit ESP is an oilfield equipment supplier backed by Oklahoma billionaire George Kaiser.
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Oilfield services provider Halliburton Co declined to comment on its operations in Venezuela.
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Bahrain relies on the Abu Safa oilfield for the majority of its oil.
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Operations at Iraq's Nassiriya oilfield resumed on Monday after protesters briefly halted production.
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Exhibit B was the stock of Schlumberger, the world's biggest oilfield services company.
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A separate volley set ablaze the Khurais oilfield, 216km to the south west.
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Last month oilfield services provider Ezra Holdings Ltd filed for U.S. bankruptcy protection.
|
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Production from Libya's Sharara oilfield, the conflict-riven country's largest, has been seesawing.
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BENGHAZI, Libya, Oct 28 (Reuters) - A small group of Libyan tribesmen have staged a protest at the southern El Sharara oilfield, threatening to close down facilities unless their living conditions improved, a video tape showed and oilfield staff said on Sunday.
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The move by Olivier Le Peuch reverses his predecessors' big investments that took the world's largest oilfield services company deeper into shale and oilfield operations and shows that he intends to shift the company toward more software and services-driven arms.
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Halliburton fell 523 percent and rival oilfield services provider Schlumberger was down 2.9 percent.
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|
Saudi Aramco is expanding the oilfield to meet increased demand for gas at home.
|
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Halliburton fell 3 percent and rival oilfield services provider Schlumberger was down 2.9 percent.
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Antitrust authorities have challenged agreements ranging from oilfield services mergers to health insurance buyouts.
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Already, Russian oil firms, like Lukoil and Tatneft, have signed oilfield deals with Iran.
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Libyan production dropped due to a stoppage at the Sharara oilfield, the country's largest.
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Oilfield services group John Wood, which had been expected to join, was left out.
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When completed, the BHI transaction will create the second largest global oilfield services business.
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Those include the big three U.S. oilfield services firms: Schlumberger, Halliburton and Baker Hughes.
|
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N) sold a 7 percent stake in the Nafoura oilfield to Austria's OMV (OMVV.
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Revenue also topped estimates, even as the oilfield services firm dealt with slumping demand.
|
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O) has entered the auction for assets that oilfield service providers Halliburton Co (HAL.
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Anadarko owns prized land in the Permian Basin, the shale oilfield in West Texas.
|
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Output has risen after a successful completion of maintenance on the oilfield in May.
|
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The restart of Libya's El Sharara oilfield could offset some of the cuts, however.
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Pioneer helps limit costs by doing much of its oilfield services work in-house.
|
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This is a second attempt by Schlumberger to acquire Russia's leading oilfield services provider.
|
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Commodity prices have tanked, cutting the value of mines, steel mills and oilfield concessions.
|
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Oilfield decline rates doubled from 103 percent in 210 to 22 percent in 22017.
|
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Oilfield services have been under pressure throughout a three-year downturn in oil prices.
|
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CN refused to extend its contract to operate the country's highest-producing Rubiales oilfield.
|
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Equinor's giant Johan Sverdrup oilfield is expected to start production in November this year.
|
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By the time police arrived at Journey Oilfield Services' offices, Ator had already left.
|
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That represents a 21% reduction in the global oilfield service (OFS) industry, Rystad says.
|
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Flotek Industries Inc, a supplier of oilfield chemicals, has cut staff twice this year.
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Operations resumed at Iraq's Nassiriya oilfield resumed on Monday after protesters briefly halted production.
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Operations resumed at Iraq's Nassiriya oilfield resumed on Monday after protesters briefly halted production.
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The staff returned to the oilfield after the Iraq government agreed to increase security.
|
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Schlumberger dropped 1.6 percent after the oilfield services provider's profit just scraped past estimates.
|
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This month, Total started production at the Egina oilfield off the coast of Nigeria.
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The oilfield services company said it is now exploring strategic options for the unit.
|
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Unlike previous oilfield divestments by Petrobras, the Garoupa sale has no non-binding phase.
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Unlike previous oilfield divestments by Petrobras, the Garoupa sale has no non-binding phase.
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Schlumberger dropped 1.5 percent after the oilfield services provider's profit just scraped past estimates.
|
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HOUSTON (Reuters) - Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for $40 million or more, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped production.
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WEST QURNA 1 OILFIELD, Iraq (Reuters) - Production at Iraq's giant West Qurna 1 oilfield in the south has reached 4.53,000 barrels per day (bpd) after the completion of new crude processing facilities and oil storage tanks, Iraqi oil officials said on Monday.
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Oilfield services M&A came back to life in the final quarter, reaching $29.1 billion.
|
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The Buzzard oilfield, the UK's largest, has closed temporarily, prompting the cancellation of some cargoes.
|
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Rosneft has plans to jointly develop the Val Shatskogo (Shatsky Ridge) oilfield with Italy's Eni.
|
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Schlumberger rose 1 percent as its third-quarter profit increased on higher oilfield services demand.
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Iraq plans to export oil to Iran from the northern Kirkuk oilfield using tanker trucks.
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Statoil's Johan Sverdrup is an offshore oilfield due to start pumping oil in late 2019.
|
|
Schlumberger jumped 7.87 percent after the world's largest oilfield services provider's quarterly revenue beat estimates.
|
|
However, Canaccord warned the tough times could last longer than expected for oilfield services companies.
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Saudi labour laws still apply, however: female Aramcons may not stay overnight at an oilfield.
|
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OPEC's biggest production gain occurred in Libya as the country's biggest oilfield, El Sharara, restarted.
|
|
The oilfield equipment manufacturer said first-quarter revenue fell 10 percent to 91 million euros.
|
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Energy plays on the Chinese mainland were mostly lower, with China Oilfield dropping 1.2 percent.
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Chinese mainland oil stocks were mostly up, with shares of China Oilfield gaining 2.23 percent.
|
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In May, the firm entered a new production contract to develop the East Baghdad oilfield.
|
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It also plans to ditch its 62.5-percent stake in oilfield services company Baker Hughes.
|
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If sanctions were to pass, payments to oilfield service firms could become even more challenging.
|
|
Ecuador and Schlumberger reached an agreement in July to lower the prices for oilfield services.
|
|
Nasser said the expansion of the company's Khurais oilfield would come on stream in 2018.
|
|
"If anybody says they are making money in the oilfield they are lying," Potts said.
|
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Halliburton climbed 1.9 percent after the oilfield services provider posted quarterly profit that topped estimates.
|
|
Halliburton Co shares gained 6.4% after the oilfield services provider detailed further planned cost reductions.
|
|
Halliburton Co rose 1.7% after the oilfield service reported better-than-expected quarterly adjusted earnings.
|
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Johan Sverdrup is a new Norwegian oilfield that began operations in the autumn of 2019.
|
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PRODUCTION AT LIBYA'S EL FEEL OILFIELD GRADUALLY RESTARTING AFTER SHUTDOWN DUE TO CLASHES - FIELD ENGINEERS
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Buzzard, Britain's largest oilfield, was producing over half its normal level, a trade source said.
|
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The Permian - America's largest oilfield - has already seen output jump in the past six months.
|
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Elsewhere, a shutdown of Libya's Sharara oilfield due to a pipeline blockage provided some upside.
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In June it found its first oilfield, in the Laptev Sea in the eastern Arctic.
|
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Major oilfield firms like Halliburton and Schlumberger this week said they planned to slash spending.
|
|
Three consortia principally made up of China Petrochemical Corporation (Sinopec Group); the world's largest oilfield services provider Schlumberger and Argentina's Tecpetrol oil firm; and oilfield service provider Halliburton Co's will in total invest some $1 billion dollars in the first five years of the deal.
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It expects to bring on stream ten new projects in 2020, mostly offshore China, such as block 4 of the Penglai 19-3 oilfield, phase II of Penglai 19-9, Qinhuangdao 33-1 South oilfield phase I and Bozhong 19-6 gas field's pilot development.
|
|
The move by Olivier Le Peuch writes down his predecessors' big investments that took the world's largest oilfield services company deeper into shale and oilfield operations and shows that he intends to shift the company toward more asset-light software and services-driven businesses.
|
|
MI) Golihere floating production, storage and offloading (FPSO) unit, the world's most northerly oilfield in production.
|
|
The plunge was worse among oilfield services firms, with company outlook down 64 points to -17.2.
|
|
Oilfield services firm Baker Hughes reported U.S. drillers added 17 oil rigs in the last week.
|
|
Le Peuch has previously served as the president of Schlumberger's oilfield equipments making unit Cameron Group.
|
|
The jihadists who attacked an Algerian oilfield and took hostages in 2013 also demanded his release.
|
|
GBC Oil's operations at its third oilfield of Ballsh-Hekal were not affected by Albetrol's action.
|
|
Wisting is Norway's northernmost oilfield, located 300 kilometers (186 miles) north of the Nordic country's mainland.
|
|
Production from Nahran Bin Omar now stands at around 44,000 barrels per day, oilfield officials said.
|
|
Anyone who buys the oilfield licence is essentially buying a call option on the oil price.
|
|
Halliburton Co fell 1.5 percent after the oilfield services provider reported flat growth in quarterly revenue.
|
|
Quarterly results for oilfield companies overall should get a lift from cost-cutting and greater activity.
|
|
IT IS A blazing morning in the Permian basin, in west Texas, America's most productive oilfield.
|
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Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry.
|
|
Now it is fighting for a bigger prize 200km to the south-west: the Sharara oilfield.
|
|
Halliburton Co shares gained 5.4% after the oilfield services provider detailed plans of further cost reductions.
|
|
Ecuador recently negotiated a new fee for service with Schlumberger in an oilfield in the jungle.
|
|
ONGC Videsh, ONGC's overseas investment arm, has a 40 percent stake in the San Cristobal oilfield.
|
|
El Feel oilfield, a smaller production facility in the area, has not been affected by protests.
|
|
N), which could tie up with oilfield equipment manufacturers such as National Oilwell Varco Inc (NOV.
|
|
Chinese mainland shares of China Oilfield were down 0.45 percent and PetroChina was down 0.13 percent.
|
|
The deals will effectively cut Occidental's holdings in the Permian, America's largest oilfield, by 13,000 acres.
|
|
Sandness, an oilfield electrician, takes medication every day to prevent his body from rejecting the transplant.
|
|
The Agbami oilfield is the main prize, however, producing about 240,000 bpd of light, sweet crude.
|
|
He was the head of Sinopec's Daqing oilfield before his promotion to the president in 2015.
|
|
"We have heavy oilfield maintenance in Norway and West Africa across May and June," said Chauhan.
|
|
But he also sees upside for smaller independent exploration and production companies and oilfield services firms.
|
|
The West Qurna 1 oilfield, operated by Exxon Mobile, currently produces around 405,000 barrels per day.
|
|
But last month's attacks against a huge Aramco processing facility and oilfield highlighted its vulnerabilities too.
|
|
That raises the specter of cost hikes for oilfield services, a situation that would erode margins.
|
|
He had the phrase "Oilfield Mafia" displayed on the back window of his blue Dodge Challenger.
|
|
Oilfield services provider Halliburton (HAL) is among a handful of companies reporting quarterly earnings this morning.
|
|
LIBYA'S NATIONAL OIL CORPORATION SAYS PRODUCTION AT EL FEEL OILFIELD HALTED BECAUSE OF AIR STRIKES - STATEMENT
|
|
As of 2017, no oilfield joint venture in Venezuela had more than 40 percent foreign ownership.
|
|
Tudor Pickering analyst Byron Pope, however, said the delays would not affect other oilfield services companies.
|
|
In January alone, drillers and oilfield service companies raised $6.64 billion in 13 different equity offerings.
|
|
The Kashagan oilfield is set to increase output to 15.5 million tonnes from last year's 14.1 million tonnes and production at the Karachaganak oilfield is expected to rise to 11.7 million tonnes from 11.3 million tonnes, it said in a written reply to questions from Reuters.
|
|
Schlumberger, the first oilfield service provider to report earnings, is seen as a bellwether for the industry.
|
|
In one West Texas oilfield, tubular goods prices climbed 31 percent, it said, primarily due to tariffs.
|
|
The government of President Rafael Correa in 2013 opened ITT to oilfield development despite criticism by environmentalists.
|
|
Adding to the worries, healthcare giant Johnson & Johnson and oilfield services provider Halliburton Co gave weak forecasts.
|
|
But it also piles pressure on struggling oilfield services firms hoping shale producers expand their drilling budgets.
|
|
The No.2 oilfield services provider is scheduled to report first-quarter results on Monday, April 25.
|
|
Since 2015, about 118 North American oilfield services companies have filed for bankruptcy, according to Haynes & Boone.
|
|
Acquiring Anadarko's Permian assets would lift Occidental's output in that shale oilfield to 533,000 barrels per day.
|
|
That is largely because oilfield services firms have not yet seen their prices stabilize, said PwC's Meier.
|
|
On Tuesday, oilfield rival Schlumberger NV warned that the hydraulic fracturing market had softened more than expected.
|
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The oilfield in question, Oil Mining Lease (OML) 42, is also at the center of corruption allegations.
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The most promising offshore Arctic oilfield is beneath the U.S. continental shelf off the coast of Alaska.
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Fezzan is the historic name of the southern region of Libya where El Sharara oilfield is located.
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Spain's Repsol, France's Total, Italy's Eni, Japan's Inpex and India's ONGC Videsh also own minority oilfield stakes.
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The oilfield services provider got a boost from as US producers put more oil rigs to work.
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It also said in a statement that production from El Feel oilfield was unaffected by the incident.
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They will be joined by Kimberly Ross, the former finance chief of oilfield services company Baker Hughes.
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In the oil and gas sector, BG Group's new Knarr oilfield added most to emissions in 2015.
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Chinese mainland energy plays closed mixed, with China Oilfield shedding 2.88 percent and Petrochina adding 0.28 percent.
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She was previously at Baker Hughes as executive director of its sub-Saharan Africa oilfield services business.
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The oil source said El Feel oilfield, with a capacity of about 90,000 bpd, had also restarted.
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Mainland Chinese oil plays ended mostly in positive territory with shares of China Oilfield gaining 21.25 percent.
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He soon landed two jobs - one bartending, the other at a local retailer of oilfield work clothes.
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The shutdown of El Sharara has not affected the El Feel oilfield, which is located near Sharara.
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November 7.73: ProPetro Holding (US, oilfield services) – $157.3m FO. 10m shares (100% sec) versus $239 at file.
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Chinese mainland oil plays finished mixed, with China Oilfield shedding 1.71 percent, while Sinopec gained 4.15 percent.
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Chinese mainland oil plays closed up, with Sinopec adding 3.29 percent and China Oilfield gaining 1.98 percent.
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Demand was also up for primary metals such as steel, computers, construction machinery and oilfield drilling equipment.
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Hassan Rouhani, Iran's president, claimed that a new oilfield containing 53bn barrels of crude had been discovered.
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Eni operates the 4-billion-barrel Zubair oilfield in the south, which currently produces around 430,000 bpd.
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Texas's Permian basin is America's most productive oilfield, despite a patchwork of plots with hundreds of owners.
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Separately, Libya's state oil firm declared force majeure on operations at the country's largest oilfield, El Sharara.
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What it does: One of the world's largest oilfield service and product companies, headquartered in Houston, Texas.
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The announcement came as Sinopec Oilfield reported a 544% year-on-year jump in 2019 net profit.
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Halliburton Co rose 2.2% after the oilfield service provider beat Wall Street estimates for quarterly adjusted earnings.
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There is only one offshore Arctic oilfield in Russia, Prirazlomnoye, which is being developed by Gazprom Neft .
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Sinopec's Shengli Oilfield became the latest victim of the ransomware that hobbled big business across the globe.
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Aker BP has an 11.6% stake in Sverdrup, Western Europe's biggest oilfield, which began production in October.
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Schlumberger reported a bigger-than-expected profit as the oilfield services provider benefited from higher oil prices.
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The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield.
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The world's northernmost oilfield has suffered a number of incidents since it started production in March 2016.
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"The 500,000 bpd Kirkuk oilfield cluster is at risk," Goldman Sachs said in a note to clients.
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The two companies started a partnership earlier this year with the goal of developing oilfield efficiency products.
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Oilfield service stocks overall have lagged those of producers since the oil-price recovery gained steam last year.
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That boom has local employers, including restaurants and school systems, under pressure from staff leaving for oilfield jobs.
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In a sign of the heightened tension, Exxon Mobil evacuated foreign staff from an oilfield in neighbouring Iraq.
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Canary is looking at Mexico as a viable nearshore provider of critical equipment for our oilfield services business.
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GlassPoint develops solar steam generators that utilize big mirrors to concentrate sunlight and boil oilfield water into steam.
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Top oilfield provider Schlumberger last month said it was reducing the number of its active fleets by 50%.
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Oil and gas pipelines crisscross Midland County, which is located in the Permian Basin, the largest U.S. oilfield.
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Alan Herig arrived in Midland in 1977 to sell oilfield equipment and later opened an office supply store.
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It struck the Burjesia site, west of Basra, which is near the Zubair oilfield operated Italy's Eni SpA.
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Schlumberger is the world's largest oilfield services company, working in more than 85 countries, according to its website.
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In a sign of the heightened tension, Exxon Mobil evacuated foreign staff from an oilfield in neighboring Iraq.
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Immelt spoke after GE said it would merge its oil and gas business with the oilfield services provider.
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Revenue also topped estimates, even as the oilfield services company dealt with slumping demand amid lower crude prices.
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Iraq has asked BP to help increase output from Kirkuk oilfield to more than 700,000 barrels per day.
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Suppliers with overdue bills linked to the nation include oilfield services companies, storage facility operators, and shipping firms.
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In Turkmenistan, ENOC's Dragon Oil is developing the Cheleken oilfield, with annual output of some 2.4 million tonnes.
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Barclays' Anderson, however, said earnings of oilfield services companies could peak in 2019, if not by next year.
|
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Halliburton Co gained 6.3%, reversing earlier losses, after the oilfield services provider detailed plans of further cost reductions.
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Aramco also plans to add 250,000 barrels of Arabian Light Crude per day from the offshore Berri oilfield.
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Revenue from its Baker Hughes' oilfield services business were $2.77 billion on a combined basis, up 10 percent.
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Schlumberger, the largest energy company so far to report results, is a bellwether for oilfield services and drilling.
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Both executives are long-time Halliburton employees – Lesar joined the oilfield services company in 1993, Miller in 1997.
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ABUJA (Reuters) - Nigeria's state oil company said on Friday it will partner with oilfield services company Schlumberger (SLB.
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Those efficiencies are good for drillers' balance sheets, but they do not bode well for sidelined oilfield crews.
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|
Mainland shares of China Petroleum, Petrochina and China Oilfield closed mixed between down 0.0.05 and up 20.26 percent.
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|
Another factor in aiding reserves is the sharp decline last year in fees charged by oilfield service suppliers.
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But quarterly reports from drillers and oilfield services firms belie those claims, Barclays said in a research note.
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Norway shut one oilfield due to a workers' strike and Libya said its output had more than halved.
|
|
Rival Schlumberger dropped 1.8 percent and Baker Hughes, the oilfield services arm of General Electric , fell 2.8 percent.
|
|
The oilfield services provider said revenue dropped 40.4 percent to $4.2 billion in the quarter ended March 31.
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The project included the development of new oil resources and linking them to an existing oilfield called Vincent.
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Britain's largest oilfield, Buzzard, restarted after repairs on pipe work, a spokesman for operator Nexen said on Monday.
|
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Oilfield services executives expressed displeasure with the requests, saying many companies are barely profitable at current service rates.
|
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Halliburton — Shares of the oilfield services company jumped more than 6% on quarterly earnings that matched analyst expectations.
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And that's despite Chevron continuing to pump more money into the Permian Basin, the booming West Texas oilfield.
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Shengli Oilfield, which began pumping oil in 1964, was one of the largest sources of production for Sinopec.
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Russian state-owned oil company Rosneft says it found a new oilfield in Iraq, the Moscow Times reports.
|
|
LIBYA'S NATIONAL OIL CORPORATION SAYS MILITARY ACTIVITY IN AREA OF EL FEEL OILFIELD, NO REPORTS OF DAMAGE - STATEMENT
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Oilfield services provider Halliburton sank 8.3 percent as investors focused on growing pipeline constraints in the Permian Basin.
|
|
Among individual movers, Spanish sausage casing company Viscofan fell 1.4%, while French oilfield services company TechnipFMC added 1.2%.
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Al Shaheen has three joint ventures in oilfield services, two of which are with GE Oil and Gas.
|
|
U.S. drillers added 7 oil rigs in the latest national count kept by oilfield services firm Baker Hughes.
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|
Production at the Johan Sverdrup oilfield is expected to reach 440,000 barrels per day in summer of 2020.
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LIBYA'S NATIONAL OIL CORPORATION SAYS EL FEEL OILFIELD FACILITIES SUFFERED ONLY "MINOR DAMAGE" IN FIGHTING, CONFIRMS PRODUCTION RESTART
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Nevertheless, the ratings agency sees more money pouring into E&Ps, pipeline companies, oilfield service companies and refining.
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His firm recently sold its oilfield service stocks because of a lack of expected price increases in the Permian.
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The oilfield is operated by a joint venture between NOC and a consortium of Repsol, Total, Statoil and OMV.
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|
Halliburton was down 3.8 percent after the oilfield services provider warned about flattening growth in North American rig count.
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Libya's closed Sharara oilfield is expected to lose 11,000 barrels per day, state oil company NOC said on Thursday.
|
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Exxon's charm offensive is starting in Dongying, an oil town built in the 1960s on China's second-largest oilfield.
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Exposure to oilfield services companies and exploration and production companies were cited as higher risk segments for the banks.
|
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Oilfield maintenance in Angola has made for a relatively small June export program, adding to tightness in heavier grades.
|
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Elsewhere, Bloomberg News reported Saudi Arabia would complete the expansion of the Shaybah oilfield by the end of May.
|
|
That weighed on Schlumberger, whose stock dropped 1.3 percent after the oilfield services provider's profit just scraped past estimates.
|
|
Oilfield blockades tend to be solved by authorities quickly giving more money to guards or locals living close by.
|
|
U.S. drillers added oil rigs for a fourth consecutive week, data from oilfield services firm Baker Hughes showed Friday.
|
|
General Electric (GE) said it's talking to the oilfield services giant about potential partnerships, but not an outright purchase.
|
|
The deal over the oilfield near the coastal city of Monastir also came with unjustified tax privileges, Dahmani said.
|
|
This could help to shorten offshore oilfield development times, increasing their competitiveness relative to onshore shale oil, Johnson said.
|
|
McCollum's leaves Halliburton, the world's No. 2 oilfield services provider, and is expected to join Weatherford in late April.
|
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The poll was taken before DBS disclosed its S$700 million exposure to troubled oilfield services firm Swiber Holdings.
|
|
Locals hoped the general would bring stability and let him capture towns and a major oilfield with little bloodshed.
|
|
In January a Nigerian court ordered the temporary forfeiture of assets and the transfer of operations of the oilfield.
|
|
Amec Foster Wheeler (AMFW) is the target of a takeover bid by rival oilfield services company John Wood Group.
|
|
On the earnings front, Halliburton Co rose 2.5% after the oilfield services provider's second-quarter profit beat analysts' estimates.
|
|
Restaurants, local governments and other employers in the area have come under pressure with staff leaving for oilfield jobs.
|
|
Byron Pope, an oilfield analyst at investment firm Tudor, Pickering, Holt & Co said Le Peuch, who takes over Aug.
|
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The strategic oilfield has been the target of numerous shutdowns by both protesters and armed groups in recent years.
|
|
The athletic footwear and apparel retailer will replace oilfield services company Cameron International, which is being acquired by Schlumberger.
|
|
An accelerated sale last month of its stake in oilfield services unit Baker Hughes smacked of desperation, some said.
|
|
Oilfield services provider Hunting added 4.2 percent on the FTSE 250 index after UBS hiked its rating on stock.
|
|
Elsewhere, Libya's El Sharara oilfield is pumping 135,000 barrels a day with output rising, state oil firm NOC said.
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|
Lukoil is a major player in Iraq, where it produces around 400,000 bpd at the West Qurna-2 oilfield.
|
|
The deal covers blocks 3 and 7 in Unity oilfield which have been shut down due to the conflict.
|
|
Despite higher costs, the index for prices received for oilfield services fell to 35.7 from 44 a year ago.
|
|
L), down 3.7 percent following a downgrade to neutral from JP Morgan, while oilfield services firm Subsea 7 (SUBC.
|
|
Oilfield services provider Hunting jumped 7 percent on the FTSE 250 index after UBS hiked its rating on stock.
|
|
Production in Libya was little changed as unrest kept the country's biggest oilfield, El Sharara, offline for a month.
|
|
Oilfield services revenue, which accounted for half of overall sales, rose 10.1 percent to $2.64 billion in the quarter.
|
|
A resumption in output at Libya's Sharara oilfield, which had been closed by armed brigades Sunday, fed the concerns.
|
|
In April, Eni said it had not paid any intermediary or any bribes to acquire the OPL 245 oilfield.
|
|
On Thursday, production also resumed at the Nafoura oilfield which was shut in November 2015, an oil official said.
|
|
Halliburton – The oilfield services company is in late-stage talks to buy Summit ESP, according to a Reuters report.
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|
And these are only people employed directly by oil and gas producers, drilling contractors and other oilfield services firms.
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He estimates as many as five oilfield service companies could go public in the first quarter of this year.
|
|
The Permian Basin of West Texas is the nation's largest oilfield, accounting for the vast majority of skyrocketing production.
|
|
In July, oilfield services firm Swiber Holdings applied to place itself under judicial management, after initially filing for liquidation.
|
|
Chris Wright is CEO of Denver-based Liberty Oilfield Services and a supporter of Freedom Partners Chamber of Commerce.
|
|
Halliburton – The oilfield services company matched Street forecasts with earnings of 58 cents per share, while revenue beat estimates.
|
|
China's top oilfield Daqing recorded a 4.8 percent drop in crude oil output in 2016 versus a year ago.
|
|
The kingdom will also soon increase its Arab Extra Light crude output in an expansion of the Shaybah oilfield.
|
|
Schlumberger – The oilfield services company beat forecasts by 3 cents with adjusted quarterly profit of 403 cents per share.
|
|
In July, Total also said it was investing $3.5 billion over five years in Qatar's offshore Al Shaheen oilfield.
|
|
Two industry sources told Reuters that the output was down due to unfinished unplanned maintenance at the Kashagan oilfield.
|
|
Last month, oilfield services provider Halliburton Co warned growth in North American rig count was "showing signs of plateauing".
|
|
Rosneft was part of a Russian consortium that had acquired a 40 percent share in Venezuela's Junin-6 oilfield.
|
|
Halliburton's optimistic view for its U.S. and international operations comes as rising crude prices spur demand for oilfield services.
|
|
Halliburton Co's shares fell 4.0 percent after the oilfield services company saw a slowdown in well completions in North America.
|
|
Halliburton – The oilfield services company beat estimates by 1 cent a share, with quarterly earnings of 50 cents per share.
|
|
Revenue from oilfield services, its biggest business, rose 7.6 percent to $2.63 billion in the three months ended Sept. 30.
|
|
Chevron, Total and PetroChina may form a consortium to develop Iraq's Majnoon oilfield, the minister said in Vienna in November.
|
|
The Dimmit County Central Appraisal District, where the property is located, lists the property's current owners as Stratton Oilfield Systems.
|
|
The British energy company has discovered 1 billion barrels of crude at an existing oilfield in the Gulf of Mexico.
|
|
CNPC President Wang Yilin said the company would "make efforts to streamline the oilfield services business and improve its efficiency".
|
|
Last month, in partnership with Clariant Oil Services, another Swiss firm, Haelixa started testing its technology in an American oilfield.
|
|
The oilfield services company has lost money steadily following the 2014 oil price collapse and has a substantial debt load.
|
|
Lukoil is developing West Qurna Phase Two oilfield in Iraq, which is currently producing 400,000 barrels per day, he added.
|
|
A proposed merger of Baker Hughes with Halliburton, its main rival in oilfield services, was thwarted by regulators in May.
|
|
The oilfield services company did see profit cut by nearly half compared to a year earlier as oil prices dropped.
|
|
However, there were some factors tightening supply, with Libya's state oil company declaring force majeure at the country's largest oilfield.
|
|
Halliburton — Jefferies added the oilfield services company's stock to its "franchise pick" list, based on projected recovery in demand growth.
|
|
National Oilwell Varco dropped 343 percent to $27.48 after the oilfield equipment maker said it would cut its quarterly dividend.
|
|
It had, for example, offered machine learning tools for oilfield exploration to help companies discover and extract more oil faster.
|
|
The second-largest was an involuntary cut by Libya, where unrest led to the shutdown of the country's biggest oilfield.
|
|
"They get trained in safety, then take a better paid job on an oilfield," grumbles David Tuan, the city administrator.
|
|
U.S. drillers added oil rigs for a fourth consecutive week, data from oilfield services firm Baker Hughes showed on Friday.
|
|
Byron Pope, an oilfield analyst at investment firm Tudor, Pickering, Holt & Co said that Le Peuch, who takes over Aug.
|
|
There were fewer oilfield service companies seeking protection this year than last but those that did have had larger debts.
|
|
Transocean – The oilfield services company struck a deal to sell 15 drilling rigs to Norway's Borr Drilling for $1.35 billion.
|
|
Gulf Keystone operates the Shaikan oilfield in northern Iraq and receives payments from the Kurdish government for the oil produced.
|
|
Bahrain relies on the Abu Safa oilfield for the majority of its oil, and shares the field with Saudi Arabia.
|
|
Statoil said optimization and efficiency improvements have substantially strengthened its portfolio, which includes the giant Johan Sverdrup oilfield off Norway.
|
|
"The magnitude of the decline is striking," Brad Handler, an oilfield analyst for Jefferies, wrote of Superior's pressure pumping business.
|
|
Safaniyah is the largest offshore oilfield in the world, with a capacity of more than 1 million barrels per day.
|
|
According to U.S. oilfield services company Weatherford, one concession - SC 22003 - contains 22008-8.8 trillion cubic feet of natural gas.
|
|
Halliburton — The oilfield services giant earned an adjusted 31 cents per share for its latest quarter, 7 cents above estimates.
|
|
Amec Foster Wheeler – The company is the target of a takeover bid by rival oilfield services company John Wood Group.
|
|
The market was also driven up by an outage at the world's largest oilfield, Safaniya, which produces heavy Saudi crude.
|
|
Companies that supply equipment and services to the oilfield are still recovering from a three-year rout in oil prices.
|
|
Chinese mainland oil plays were negative, with shares of China Oilfield losing as much as 4.76 percent at market close.
|
|
N), a Houston-based oilfield services company that had challenged the legality of the process, called inter partes review (IPR).
|
|
Shale activity is humming in the hottest U.S. oilfield, the Permian Basin, a 75,000 square mile expanse in West Texas.
|
|
Schlumberger reversed earlier losses to trade 1.5 percent higher as its third-quarter profit increased on higher oilfield services demand.
|
|
Oil plays in mainland China, such as China Petroleum, PetroChina, and China Oilfield ended up between 2.06 and 3.15 percent.
|
|
Halliburton fell 0.6 percent after the world's No. 2 oilfield services provider reported a bigger loss in the latest quarter.
|
|
GE is already the world's largest oilfield equipment maker, supplying blowout preventers, pumps and compressors used in exploration and production.
|
|
U.S. oilfield services firms have seen demand soften as producers cut spending due to transportation bottlenecks in the Permian basin.
|
|
National Oilwell Varco dropped 23 percent to $238 after the oilfield equipment maker said it would cut its quarterly dividend.
|
|
"We're seeing, in the case of oilfield service companies, sometimes more than a 50 percent reduction in headcount," Mortlock said.
|
|
The move comes after the No. 2 oilfield services company was rebuffed in two earlier efforts to acquire similar products.
|
|
It was the latest example of the Obama administration challenging massive combinations in major industries, from oilfield services to telecommunications.
|
|
Afterwards, he was successful in business, co-forming an aerospace company and serving as president of an oilfield equipment company.
|
|
The company will also acquire a 2.6% direct ownership share in the Johan Sverdrup oilfield for $910 million, it added.
|
|
"We're going to reach a breaking point here," said Jill Potts, an owner of Summit Oilfield Supply in Cuero, Texas.
|
|
That is expected to drive oilfield service price inflation to 15 percent over 2016, according to researchers at Wood Mackenzie.
|
|
Chinese oilfield equipment and services provider Hilong Holding's new 2020s were quoted at 98.5/98.9 after being reoffered at 99.390.
|
|
Last year, the two companies formed a joint venture, Forsys Subsea, aimed at reducing the cost of subsea oilfield exploration.
|
|
"We were forced to shut down production because Petronas didn't inform us of the evacuation process," said one oilfield official.
|
|
The news outweighed Wednesday's U.S. data showing record U.S. exports and the return of production at a major Libyan oilfield.
|
|
West Qurna 2 oilfield lies 65 km (40 miles) north-west of Basra - a city hit by days of protests.
|
|
All told, the oilfield service industry could lose more than a million jobs, according to the research firm Rystad Energy.
|
|
Oilfield service providers Halliburton and Schlumberger also have been furiously cutting as shale producers cut drilling to reduce the glut.
|
|
In addition to providing an export stream, the oilfield feeds the 120,000 bpd Zawiya oil refinery, Libya's largest operating plant.
|
|
In earnings-related news, oilfield service provider Schlumberger NV gained 2.8% after reporting a slightly better-than-expected quarterly profit.
|
|
Much of the savings have come from a squeeze on the oilfield service companies that provide equipment and build infrastructure.
|
|
Another bearish factor is Bahrain's discovery of its largest oilfield in decades, analyst John Macaluso of Tyche Capital Advisors said.
|
|
However, that is likely to be offset by improving business outlooks elsewhere as higher prices for crude boost oilfield activity.
|
|
Chevron is a major oil producer in the Permian Basin of West Texas and New Mexico, the largest U.S. oilfield.
|
|
Halliburton delivered an optimistic view for its U.S. and international operations as rising oil prices spur demand for oilfield services.
|
|
Oilfield services companies Halliburton and Baker Hughes also traded higher after the U.S. government sued to block them from combining.
|
|
Chevron has previously said that the deepwater oilfield is estimated to contain total recoverable resources north of 200 million barrels.
|
|
This meant that for the most part software was developed in-house or by companies within the oilfield services sector.
|
|
"A lot of this is related to three goals," said Audun Martinsen, head of oilfield services research at Rystad Energy.
|
|
The oilfield services provider warned that margins would remain under pressure as it spends more to bring back idled equipment.
|
|
Search crews had to wait for the rig to cool off and for the oilfield companies to stabilize the site.
|
|
The two countries have discussed swapping that collateral for oilfield stakes and a fuel supply agreement, reported Reuters last month.
|
|
Any slowdown could hurt oilfield service companies that have only recently started to recover from the 2014 oil-price crash.
|
|
Oilfield and engineering services provider Wood Group skidded 7.6 percent after Jefferies cut its rating and flagged upcoming dividend risk.
|
|
Houthi rebels in Yemen claimed the attack, saying that 10 drones had targeted Abqaiq, as well as the Khurais oilfield.
|
|
Both Ator and his employer, Journey Oilfield Services, called 22018 right after the firing, Odessa Police Chief Michael Gerke said.
|
|
Shares of Liberty Oilfield Services were trading around $22.50 on Monday, above its initial offering price of $17 per share.
|
|
National Oilwell Varco dropped 4 percent to $28 after the oilfield equipment maker said it would cut its quarterly dividend.
|
|
Halliburton – The oilfield services company reported adjusted quarterly profit of 53 cents per share, seven cents a share above estimates.
|
|
IRAN'S OIL MINISTER SAYS OIL PRODUCTION AT THE WEST KAROUN OILFIELD HAS INCREASED FIVE-FOLD IN THE PAST SIX YEARS
|
|
The water treatment facility, which is separate from the oilfield, maintains a supply of water to inject into the wells.
|
|
The third largest was an involuntary cut by Libya, where unrest led to the shutdown of the country's biggest oilfield.
|
|
Schlumberger — The oilfield services giant matched Street forecasts with adjusted quarterly profit of 27 cents per share, while revenue beat estimates.
|
|
Kirkuk's production stopped in mid-October after Iraqi forces dislodged Kurdish fighters from Kirkuk and took over the northern region's oilfield.
|
|
The company said its key project - the Catcher oilfield in the North Sea - was on schedule for first oil in December.
|
|
In a separate development, NOC restarted last week the al Jurf offshore oilfield following maintenance, an industry source said on Monday.
|
|
China Oilfield Services Ltd (COSL), a subsidiary of China National Offshore Oil Corporation (CNOOC), manages the platform and rents it out.
|
|
However, Libya's National Oil Company in a letter on Monday declared force majeure on deliveries from Sharara, the country's largest oilfield.
|
|
Line 901 moved crude produced in Exxon's Santa Ynez offshore oilfield from Los Flores north along the California coastline to Gaviota.
|
|
Eventually, a giant oilfield now known as the Boscan Field was discovered in the western portion of the country in 1946.
|
|
A website for The Studios says the property is "wholly owned" by Stratton Oilfield Systems, a subdivision of Stratton Securities Inc.
|
|
U.S. oilfield equipment maker Weatherford International on Monday named Halliburton's chief financial officer, Mark McCollum, as president and chief executive officer.
|
|
The key is that the cost of oilfield services that drillers rely on have roughly halved during the downturn, Evans said.
|
|
Four of these five oilfield services IPOs had successful debuts, while IPSCO Tubulars pulled its offering due to the market selloff.
|
|
Mainland Chinese oil stocks finished mostly lower, with shares of Sinopec down 0.17 percent and China Oilfield lower by 1.223 percent.
|
|
Futures held losses after oilfield services firm Baker Hughes reported its weekly U.S. oil rig count fell by 11 to 332.
|
|
BERLIN (Reuters) - Iraq is in talks with Chevron Corp about the Majnoun oilfield, an Iraqi oil ministry official said on Tuesday.
|
|
Pete Gerica, a crabber and third-generation fisherman, said it's no surprise that oilfield workers are turning up on the docks.
|
|
Baker Hughes' stock rose about 2.5 percent Wednesday after the oilfield services giant posted a much bigger-than-expected quarterly loss.
|
|
SBO builds highly specialised oilfield exploration equipment, such as odd-angle drilling and fracking gear, for a range of energy companies.
|
|
C&J Energy Services — C&J Energy Services gained 20% after announcing it is merging with oilfield services firm Keane Group.
|
|
Halliburton – The oilfield services company beat estimates by 5 cents a share, with adjusted quarterly profit of 35 cents per share.
|
|
The largest oilfield services provider by revenue, Schlumberger NV, this month said it expects softer demand for services in North America.
|
|
In addition, the solidification of the three global giants in oilfield services poses a question of how smaller companies will compete.
|
|
"We have a memorandum of understanding with BP to evaluate Kirkuk oilfield to raise output and enhance it reservoirs," Luaibi said.
|
|
At the same time, they've wrung cost reductions from oilfield services firms and used technology to help them drill more efficiently.
|
|
Tumbling prices forced producers and oilfield services companies to slash budgets, driving some into bankruptcy and many deep into the red.
|
|
But it is very likely that much of the new production and oilfield employment would show up under his successor's watch.
|
|
Wall Street has been cutting target share prices for many oilfield services firms, expecting producers to pull back on capital spending.
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Output at Rosneft's largest unit, RN-Yuganskneftegaz, declined by 0.8 percent after a blaze ripped through Priobskoye oilfield in early January.
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The survey's respondents included 110 companies focused on exploration and production activities and 61 that operate in the oilfield service sector.
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Elsewhere, Libya's El Sharara oilfield is pumping 135,000 barrels a day with output rising, state oil firm NOC said on Thursday.
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But oilfield services provider Petrofac jumped as much as 5.5 percent after it was awarded a $1 billion project in Algeria.
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Futures held their losses as oilfield services firm Baker Hughes reported U.S. drillers added oil rigs for a ninth straight week.
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An index of oilfield service firms' operating margins fell to a negative 32.8 from negative 6.6 in the bank's earlier survey.
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Baker Hughes in particular has been aggressive in developing new oilfield technologies, part of its appeal to Halliburton from the beginning.
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Iraqi state oil firm SOMO and Iraq's semi-autonomous region of Kurdistan began jointly exporting crude from the Kirkuk oilfield again.
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The last time supplies overwhelmed demand, oilfield service suppliers cut 25.57s of thousands of jobs and top firms gushed red ink.
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The athletic footwear and apparel retailer will replace oilfield services company Cameron International (CAM), which is being acquired by Schlumberger (SLB).
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Much of the production increase should come in the Permian Basin of West Texas and New Mexico, the largest U.S. oilfield.
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The quarterly loss widened from a year earlier, despite a general upturn in demand for oilfield services that has benefited rivals.
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Schlumberger, the world's largest oilfield services provider, was up 1.5 percent after it reported better-than-expected quarterly profit and revenue.
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At the Sohn Investment Conference in May, hedge fund manager David Einhorn presented his idea, shorting oilfield services firm Core Laboratories.
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In a sign of the heightened tension across the region, Exxon Mobil evacuated foreign staff from an oilfield in neighbouring Iraq.
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"The oilfield service providers are training people, but the operators are not happy with the performance of inexperienced crews," he said.
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Boosting production this way might risk a decline in oilfield pressure that could result in long-term damage to the reservoirs.
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The steep decline has negatively impacted many oilfield service companies that are still working to recover from the 2014 price crash.
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Libya's production suffered a new blow on Saturday when the southwestern Sharara oilfield reduced output after the abduction of two staff.
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Benchmark Brent crude tumbled 223.96 percent to $23.7, hit by news that Libyan output was recovering from an oilfield technical problem.
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The country's largest oilfield, Sharara, has been closed since Sunday, an engineer at the field and a Libyan oil source said.
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The new London case also relates to payments made by the companies to get the OPL 245 oilfield license in 2011.
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Oilfield services company Nabors Industries was the IQ 100's biggest loser in the second quarter, tumbling more than 37 percent.
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Disruptions to Libyan oil exports after local militia seized the country's biggest oilfield, El Sharara, were also buoying prices, traders said.
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Then I came across her column, "Pumper's Corner," which appears in a monthly insert, the Oilfield Outlook , in the Woodward paper.
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This GE company has operations in over 120 companies and provides oilfield products, services and digital solutions to its energy customers.
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Libya's output fell by 52,000 bpd as the country's largest oilfield remained sidelined by a dispute with workers and armed protesters.
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The region is the home to the Permian Basin, the largest U.S. oilfield, and is crisscrossed by oil and gas pipelines.
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In 2000 prospectors found a giant deposit known as the Mesozoic Chiapas-Tabasco oilfield, prompting a rush to develop the state.
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The refinery, located in Zepu county of the Kashgar region, is affiliated with CNPC's oilfield in the Tarim basin of Xinjiang.
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In the Permian Basin, the largest U.S. oilfield, Exxon plans to triple production by 2025 at recently purchased low-cost acreage.
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Toplines and profits at oilfield services companies have taken a big hit over the past year as oil slumped 35 percent.
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Oilfield contractors and firms are likely to cut more than one million jobs this year, a new Rystad Energy analysis reveals.
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The combined company would overtake Schlumberger NV as the world's largest oilfield services provider, fuelling concern about higher prices for customers.
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He also said there was a report of an Iraqi oilfield suspending operations due to labor issues, without giving further details.
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Total revenue from the company's oilfield services business, which accounts for roughly half of total sales, rose 7.5% to $3.29 billion.
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BP also agreed to invest an additional $22020 billion for the development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex.
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The survey's respondents included 77 companies focused on exploration and production activities and 57 that operate in the oilfield service sector.
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Shale production in the largest U.S. oilfield should rise by as much as 300,000 bpd by December, according to industry forecasts.
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Further, RF has higher energy-related exposure, particularly to oilfield services companies, than peers, which is expected given its operating footprint.
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The oilfield, known as Lot 192, is the largest in the country and once produced 10,000 barrels of crude per day.
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Its Khurais oilfield, which was also hit, is the kingdom's second-largest with a capacity to pump around 1.5 million bpd.
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Oilfield services firm Swiber Holdings, which initially filed for liquidation, gained court approval last week to place itself under judicial management.
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"Talks between the two sides focused on the possibility of Sonatrach participating in the development of Nassiriya oilfield," the statement said.
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In contrast, Libya pumped an extra 70,000 bpd this month due to more stable output from the Sharara oilfield, Libya's largest.
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Tradres have paid close attention to production from Libya's Sharara oilfield, the conflict-riven country's largest, where output has been seesawing.
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The commentary on margins is crucial as Wall Street was already expecting oilfield services companies to beat last year's weak results.
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West Qurna 2 oilfield lies 65 km (40 miles) north-west of Basra, a city hit by several days of protests.
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More recently, a 40-year-old Oklahoma man was killed in a backhoe accident this month at an oilfield near Ninnekah.
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The new projects would help to boost production at the field to progressively reach 490,000 bpd, said a senior oilfield manager.
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" DAVID DIXON, CHIEF EXECUTIVE OF OILFIELD SERVICE COMPANY MCDERMOTT INTERNATIONAL INC: "There is nothing we (McDermott) can do about it anyway.
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CAIRO (Reuters) - East Libyan forces warplanes have struck targets near the El Feel oilfield, the al Hadath TV station reported on Saturday.
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The biggest driver of declining activity came from oilfield services firms, the companies that provide equipment and technical expertise to oil producers.
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An index that measures utilization of equipment by oilfield services fell from 43 points to just 1.6 points in the fourth quarter.
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In a statement Tuesday, GlassPoint said that the prospective plant would be located at the Mukhaizna oilfield in the Sultanate of Oman.
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The oilfield equipment maker will get a one-time $535 million cash payment from Schlumberger, the companies said in a joint statement.
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The minister said he had a long discussion with Chevron about the company's operations in the Permian Basin, the largest U.S. oilfield.
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ExxonMobil, for example, recently signed a deal with Ghana to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield.
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The analysis, designed by Houston start-up Premier Oilfield Laboratories, helps to speed decisions on fracking locations and avoid less productive sites.
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AD said on Wednesday its Iraq-based unit had set a "production record" from the Atrush oilfield in the northern Kurdistan region.
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But in the oilfield, he's a welder-in-training working 14 hours a day in 110-degree heat — for a hefty paycheck.
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Amec Foster Wheeler was bought out by oilfield services company John Wood Group in a 2.2 billion pound deal announced in March.
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Oilfield services companies are expected to see tough competition and poor pricing because of equipment overcapacity, according to the credit rating agency.
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A near two-year slide in crude oil prices has led to lower charter rates and less work for oilfield service companies.
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Baker Hughes is much more exposed than Halliburton to international markets, where activity and pricing for oilfield services has remained persistently low.
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Production at the Cano Limon oilfield, operated by U.S.-based Occidental Petroleum Corp, and exports have not been affected, the sources said.
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The partial closure of Saudi Arabia's Safaniya, the world's largest offshore oilfield, occurred about two weeks ago, a source said on Friday.
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The lifting of the sanctions in 2016 after the agreement opened the way for Inpex to again participate in developing the oilfield.
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TUNIS, Aug 8 (Reuters) - Libya has restarted the El Sharara oilfield with a limited production, an oil industry source said on Thursday.
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Halliburton Co surged 8%, the most among S&P 500 companies, after the oilfield services provider's second-quarter profit beat analysts' estimates.
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The rig was also due to drill one well for Italy's Eni at Goliat West, a prospect near its producing Goliat oilfield.
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The new company will "sell equipment and services to advance digital technology and automation in the oilfield," according to the Houston Chronicle.
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Total plans to invest more than $2 billion in developing the Al-Shaheen oilfield over five years, the company's chief executive said.
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LIBYA'S RECOGNIZED GOVERNMENT SAYS AGREES WITH STATE OIL FIRM NOC ON STEPS TO REOPEN EL SHARARA OILFIELD AND LIFT FORCE MAJEURE-STATEMENT
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Input costs on the oilfield services side continued to rise, with the index jumping from 36.3 to 46.6 in the third quarter.
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The pipeline resumed pumping several days ago and the oilfield resumed production this weekend, the military and an oil industry source said.
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Halliburton — The oilfield services company earned an adjusted four cents per share for the first quarter, one cent a share above estimates.
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Oilfield services company Halliburton Co dropped 3.2 percent as falling oil prices and slowing U.S. demand weighed on its fourth-quarter results.
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McCollum will be replaced at Halliburton, the world's No. 2 oilfield services provider, as interim CFO by Executive Vice President Robb Voyles.
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Also on Friday, the U.S. oil rig count fell by 8 to a total of 392, oilfield services firm Baker Hughes reported.
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One such loan, for $20 million, came from a bank in November 2013, purportedly to help purchase a California oilfield, prosecutors said.
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Halliburton Co rose 6.9%, the most among S&P 500 companies, after the oilfield services provider's second-quarter profit beat analysts' estimates.
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SJS, a joint venture between Sinopec Oilfield Equipment and U.S. Serva Group, makes bridge plugs, used to isolate zones in shale drilling.
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Vedanta hopes to speed up development of the blocks by getting the oilfield firms to organize consortia that would deliver integrated services.
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The "Mad Money" host explained that oilfield service companies like Schlumberger, the world's largest, know the most about crude's supply and demand.
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The U.S. major stole the show at the last Brazilian oilfield auction in September, which was for areas outside the pre-salt.
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Halliburton and Baker Hughes called off their $28 billion merger, which would have rivalled Schlumberger in size in the oilfield-services industry.
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Separately, gunmen stole two company cars at a control station of Libya's giant El Sharara oilfield on Thursday, a field engineer said.
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Dan K. Eberhart is an entrepreneur and CEO of Canary, LLC, the largest privately held oilfield services company in the United States.
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It's labeled the "Halliburton loophole" after the oilfield services company that then-Vice President Dick Cheney led before he came into office.
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The prospective sale of SDI comes at a time when oilfield services firms have enjoyed some financial benefits from rising crude prices.
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Baker Hughes told investors in April it believed the U.S. oilfield services market was "on the cusp of a broader pricing recovery".
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Cash, people and equipment are pouring into the prolific Permian shale basin in Texas as business booms in the largest U.S. oilfield.
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Christensen's company, On Point Oilfield Holdings, owns a water disposal network that this year will take up to 240,248.5 bpd of wastewater.
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Engineers restarted the al-Bayda oilfield late on Tuesday, one of them told Reuters, sending pictures of jubilant workers busy at work.
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Kurdistan and Iraq agreed last year to jointly export crude from the giant Kirkuk oilfield after cutting a preliminary revenue-sharing deal.
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The IPO would be the third for Evans, an oilfield wildcatter known for his entrepreneurial streak and penchant for big-game hunting.
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The deal it has just cooked up with Baker Hughes, an oilfield-services rival, sets an intriguing precedent for the industrial behemoth.
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The group has previously targeted oil facilities in the area with explosives, repeatedly targeting oil wells at Khabbaz oilfield southwest of Kirkuk.
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In a similar move, Sinopec Group in 2014 transferred its oilfield service business to listed unit Sinopec Yizheng Chemical Fibre Co Ltd.
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Pertamina will in 21.4 take over operatorship of the Rokan block, Indonesia's second-largest crude producing oilfield, from its current operator Chevron.
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And this week Statoil said it would be able to cut development costs further at its Johan Castberg oilfield, a key project.
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Christensen's company, On Point Oilfield Holdings, owns a water disposal network that this year will take up to 1503,2150 bpd of wastewater.
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Prior to joining Reuters, Rickey was an oilfield geologist in Texas and Egypt before turning his passion for photography into his livelihood.
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Aker BP and Equinor are also partners in the Johan Sverdrup oilfield off Norway, which is scheduled to start production in November.
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The recovery in the industry has so far been focused on onshore shale output from the largest U.S. oilfield, the Permian Basin.
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Our escorts from the Kurdish-led forces insisted on taking us in armored vehicles from their base in the al-Omar oilfield.
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Baker Hughes in particular has been extremely aggressive in developing new oilfield technologies, part of its appeal to Halliburton from the beginning.
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West, who has urged consolidation to wring out costs, said oilfield firms would be better off rejecting contracts that are not profitable.
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Halliburton Co rose 2% after the oilfield service provider beat estimates for quarterly profit, helped by higher drilling activity in international markets.
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Halliburton — Halliburton shares rose more then 22.6% but closed down 902.73% after the oilfield services company posted better-than-expected quarterly results.
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Halliburton – The oilfield services company came in five cents a share above estimates, with adjusted quarterly profit of 23 cents per share.
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Earlier a source said al-Sarraj flew to the southern El Sharara oilfield to meet protesters who had shut down the facility.
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Premier's shares gained 47% in 2019, boosted by Mexican oil discoveries and the performance of its Catcher oilfield in the North Sea.
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Premier's shares gained 47% in 2019, boosted by Mexican oil discoveries and the performance of its Catcher oilfield in the North Sea.
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Schlumberger (SLB) – The oilfield services company came in 2 cents a share above estimates, with quarterly earnings of 39 cents per share.
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Nonetheless, unrest-related losses of crude from Libya's largest oilfield - similar in quality to Nigerian and North Sea grades - have offset this.
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The 73,000 barrel per day El Feel oilfield contributes to Libya's Mellitah crude oil blend along with condensate from the Wafa field.
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Kashagan oilfield has been developed by a consortium of China National Petroleum Corp, Exxon Mobil, Eni, Royal Dutch Shell, Total, Inpex and KazMunaiGas.
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The new GE-controlled Baker Hughes would be the world's second-largest oilfield services company, with revenue projected at $34 billion in 2020.
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Zawiya exports crude from Libya's giant El Sharara oilfield, which produces 300,000 bpd, more than a quarter of the North African country's output.
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However, Etete's lawyer told the court that his client would seek to join the case to defend ownership of the oilfield, Adegoke said.
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The Khafji oilfield was shut in October 2014 for environmental reasons and Wafra has been shut since May 2015 due to operating difficulties.
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China's state oil majors Sinopec, CNOOC and PetroChina are regular Iraqi oil customers under term supply deals with SOMO or oilfield service contracts.
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In a sign of how desperate GE is for cash, it announced this week that it's selling Baker Hughes, its oilfield services unit.
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Technology firms and consultancies are knocking on their doors peddling alluring concepts like the "digital oil rig" and the "oilfield of the future".
|
|
Chinese mainland oil plays ended mixed, with Sinopec giving up early gains to close down 0.16 percent, while China Oilfield gained 0.57 percent.
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Oilfield services firms Schlumberger, Baker Hughes, and Halliburton either did not respond before publication or declined to make an executive available for comment.
|
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The number of rigs operating in U.S. fields rose by 297.25 to 290.9 in the previous week, oilfield services firm Baker Hughes reported.
|
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Production at the oilfield was not affected by the evacuation and work is continuing normally, overseen by Iraqi engineers, Iraqi oil officials said.
|
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The combination of General Electric's oil and gas business with oilfield services firm Baker Hughes has a fan in billionaire investor Nelson Peltz.
|
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Revenue from the company's oilfield services segment, which constitutes a majority of its operations, rose 14% to $3.26 billion in the second quarter.
|
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In other earnings news, Halliburton shares fell 4.2 percent after the oilfield services provider warned about flattening growth in North American rig count.
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Schlumberger: Oilfield service play Schlumberger, on the other hand, has been a tough holding for Cramer's charitable trust, the "Mad Money" host said.
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The slowdown threatens to undermine a recovery in the oilfield services sector, which was hit hard by the 2014 downturn in oil prices.
|
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Other efforts to develop cheap sensors have drawn interest from companies such as Schlumberger, an oilfield-services giant, and Bridgeporth, a surveying firm.
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In 2018, it will produce only half of what it does today after losing a major contract to operate Qatar's largest offshore oilfield.
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There were 33 oilfield service bankruptcies through July, compared with 46 filings in the same period last year, according to the law firm.
|
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Further, STI's energy book appears to have less risk than peers given the least exposure to the E&P and oilfield services sectors.
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The Sharara oilfield, the country's largest, has been shut down since Saturday because of a pipeline blockade, industry sources and an engineer said.
|
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The Sharara oilfield, Libya's largest, resumed production after a valve on the pipeline connecting it to Zawiya was reopened on Sunday, NOC said.
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Oilfield services providers such as Halliburton have been helped by a boom in North American drilling even though oil has stayed below $50.
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Dariga Nazarbayeva, 55, has quickly raised her public profile with comments on a variety of matters, from oilfield fires to local councillors' pay.
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On March 4, PDVSA completely shut output at its Corocoro oilfield, which was producing some 12,000 bpd, due to lack of storage capacity.
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They helped the state's new itinerant oilfield workers send and receive packages, print resumes and business cards, and fax loan and rental contracts.
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Pertamina is due in 2021 take over as operator of the Rokan block, Indonesia's second-largest oilfield, from Chevron, though production is falling.
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|
The last time the fall was bigger was in September 2012, when the Buzzard oilfield in the North Sea also underwent extensive maintenance.
|
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On Saturday, the army and militias fighting alongside it seized the Teym oilfield in desert south of Deir al-Zor, state TV said.
|
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Exxon is now developing the Upper Zakum offshore oilfield through a joint venture, Zakum Development Company (ZADCO), with Abu Dhabi National Oil Company.
|
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Rival Halliburton Co had earlier tried to buy Baker Hughes to compete for customers with Schlumberger NV, the world's largest oilfield service provider.
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MOSCOW (Reuters) - A Russian government commission on foreign investments did not make a decision on Wednesday about U.S. oilfield services giant Schlumberger's (SLB.
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Pressure pumping has been a bright spot in the oilfield services industry, which is still struggling to boost profits following the 2014 downturn.
|
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The world's largest oilfield services provider also reported higher-than-expected quarterly revenue, as demand in international markets countered weakness in North America.
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TRIPOLI (Reuters) - Libya's closed Sharara oilfield is expected to lose 8,500 barrels per day to looting, state oil company NOC said on Thursday.
|
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Famfa Oil is one of the concessionaires of Star Deep Water Petroleum and was also looking to increase its stake in the oilfield.
|
|
Oklahoma City-based oilfield services company Seventy Seven Energy Inc is the latest company to say it planned to file for bankruptcy protection.
|
|
Halliburton said last week that oil prices would have to stabilize at above $50 per barrel for producers to meaningfully increase oilfield activity.
|
|
The number of oil rigs operating in U.S. fields fell for a third straight week, oilfield services firm Barker Hughes reported on Friday.
|
|
Halliburton Co's shares fell 1.6 percent in premarket trading after the oilfield services company saw a slowdown in well completions in North America.
|
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Benghazi, Feb 9 (Reuters) - East Libyan forces carried out four warning air strikes near the El Feel oilfield - a field engineer told Reuters.
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He lived in a tent on a desolate Texas oilfield while filming There Will Be Blood, Anderson's epic about a maniacal oil baron.
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Baker Hughes said the deal would also shrink the industrial conglomerate's presence on the oilfield services company's board to one from five seats.
|
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Riyadh has accused Iran and its proxies of being behind previous attacks on oil pumping stations and the Shaybah oilfield, charges Tehran denies.
|
|
Baker Hughes said it was committed to safety and that it operates its oilfield services facility in Kenai in compliance with the law.
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Baker Hughes said it was committed to safety and that it operates its oilfield services facility in Kenai in compliance with the law.
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The pipeline segregates WTL barrels to maintain quality from the oilfield to the dock, which is vital to Asian refiners, the people said.
|
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Growth in U.S. shale oil production will slow sharply over the next two years, the CEO of U.S. oilfield services giant Schlumberger said.
|
|
"Oil prices have reached their highest level since the Saudi oilfield attack in mid-September", said market analyst Margaret Yang of CMC Markets.
|
|
Oilfield services company Halliburton Co disclosed a $2.2 billion charge for asset impairments during the quarter, pressured by weakening North American shale activity.
|
|
Transocean — Transocean was upgraded to "buy" from "neutral" at UBS, which expects the oilfield services company's business to improve in the medium term.
|
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The oilfield sale has spawned legal cases across several countries, involving Nigerian government officials and senior executives from ENI and Royal Dutch Shell.
|
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For Gazprom Neft, Yamal's key oilfield is Novoportovskoye, from which it exports its oil grade, Novy Port, all-year round mainly to Europe.
|
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In a picture accompanying the Facebook post, Zuckerberg can be seen wearing the oilfield uniform of fire-resistant coveralls and a hard hat.
|
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On Sunday, Obiang Lima said an announcement would be made in June on who would invest in the Zafiro oilfield after Exxon exits.
|
|
It said it planned to put its new Russkoye oilfield in the northern Yamal Nenets region onstream by the end of the year.
|
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Shell and Italy's Eni are both currently on trial in Milan on graft allegations revolving around the acquisition of the OPL 245 oilfield.
|
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Oilfield services providers are already working on completing wells at break-even or lower, West said, meaning any further cuts would bring losses.
|
|
The number of oil rigs operating in U.S. fields was unchanged from the prior week, oilfield services firm Baker Hughes reported on Friday.
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The oilfield has an estimated 2500 year life span, and drew 25.4 billion Norwegian crowns ($403 billion) of investment in phase 240 development.
|
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Woods has spent or authorized more than $10 billion in investment in the Permian Basin, the largest U.S. oilfield, and in offshore Guyana.
|
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The Permian Basin grew so quickly that the West Texas shale oilfield is now running out of pipelines to carry crude to refineries.
|
|
The gushing oilfield in West Texas has made the United States the world leader in crude production for the first time since 1973.
|
|
Oil States Energy Co., a Houston-based oilfield services company, is challenging the U.S. Patent and Trademark Office review process for patent disputes.
|
|
The U.S. oil rig count, an indicator of future production, rose for a fifth straight week, a report from oilfield service firm showed.
|
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The refinery project was originally envisioned with a 300,000 barrels per day capacity that would be integrated with development of the Nassirya oilfield.
|
|
General Electric Co. plans to sell of its majority stake in oilfield services company Baker Hughes only months after taking it, Reuters reports.
|
|
SBO gets its orders for highly specialised oilfield exploration equipment — including odd-angle drilling and fracking — from upstream energy companies of different sizes.
|
|
Furthermore, supplying carbon dioxide at the times needed for oilfield injections hinders the flexibility of coal plants to respond to fluctuating power prices.
|
|
A BP-led consortium produces oil at Azerbaijan's giant Azeri-Chirag-Guneshli (ACG) oilfield and natural gas - at the major Shah Deniz field.
|
|
Canary and other oilfield service companies are finally starting to come back from a two-year downturn that drove many out of business.
|
|
Libya's Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said.
|
|
Also on Friday, data from oilfield services firm Baker Hughes showed U.S. drillers added oil rigs for a sixth week in the last seven.
|
|
A surge in production has trapped barrels in the Permian, the largest U.S. oilfield, as transportation bottlenecks emerged, depressing regional Midland prices for months.
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Schlumberger: Cramer, whose charitable trust owns shares of Schlumberger, said he feels "like a dope" for continuing to own the oilfield service company's stock.
|
|
Also on the supply side, oilfield services firm Baker Hughes reported the number of rigs operating in U.S. fields jumped by 10 last week.
|
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TRIPOLI (Reuters) - Libya's state oil company said on Monday there had been a "security breach" at its southern El Sharara oilfield on Sunday night.
|
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However, the latest U.S. rig count from oilfield services firm Baker Hughes offered some evidence that American production will moderate in the near term.
|
|
The state-owned oil giant entered Iran in 2004 when it acquired the MIS oilfield, in which it now holds a 75 percent stake.
|
|
Prices rose after the drone attack by Yemen's Houthi group on an oilfield in eastern Saudi Arabia on Saturday added to Middle East tensions.
|
|
The oilfield services sector bellwether said it expects a 7 to 8 percent increase in investments by oil producers in markets outside North America.
|
|
U.S. drillers added 2 rigs in the latest week, bringing the national count to 833 rigs, oilfield services firm Baker Hughes reported on Friday.
|
|
The deal it has just cooked up with Baker Hughes, an oilfield-services rival, sets an intriguing precedent for the $267 billion industrial behemoth.
|
|
General Electric said it would combine its oil and gas business with Baker Hughes, which would create the world's No. 2 oilfield services provider.
|
|
The case relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.
|
|
Producers in west Texas, the nation's largest oilfield, are now pumping more than 23 million bpd, compared with 22 million bpd a year ago.
|
|
The deal will help boost output from the Majnoon oilfield to 450,000 barrels per day (bpd) in 2021, the ministry said in a statement.
|
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TRIPOLI (Reuters) - Libyan state oil firm NOC has reopened the airfield at the southwestern Wafa oilfield after state guards ended a blockade, it said.
|
|
The September survey was based on responses from executives at energy producers, oilfield service companies, financial institutions, private equity firms and professional service providers.
|
|
Oilfield services firm Ezra Holdings of Singapore filed for U.S. Chapter 11 bankruptcy at the weekend, blaming a prolonged slump in the energy industry.
|
|
Rosneft's request for tax deductions for developing Priobsky, its biggest oilfield, was approved by the government, the Kommersant newspaper reported in May, citing sources.
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Decreased costs for oilfield services and more efficient drilling processes are helping oil producers extract more barrels of oil, without having to spend more.
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Chinese oil stocks were mostly up, with mainland shares of China Oilfield and Petrochina retracing morning losses to close up 2882.68 and 2500 percent.
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The second biggest decliner was Precision Drilling Corp , down 3.7 percent after multiple brokerages trimmed their price target on the oilfield services company's stock.
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However, that combination still leaves about 14 larger pressure pumping firms in business, estimates Brad Handler, an oilfield services analyst at investment firm Jefferies.
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Meanwhile, SOMO announced a tender on Thursday to sell small quantities of heavy crude from the northern Qayyara oilfield for export by road tankers.
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The number of oil rigs operating in the United States fell by 15 in the previous week, oilfield services firm Baker Hughes reported Thursday.
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On Friday, data from oilfield services firm, Baker Hughes, showed U.S. energy companies added one oil rig last week after 12 weeks of cuts.
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"The minister is very keen to rehabilitate the Kirkuk oilfield and raise production from there as soon as possible," spokesman Asim Jihad told Reuters.
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Control over the oilfield has been claimed by different forces since tribesmen and state guards seized it in December, making financial and other demands.
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The rebound is the fastest for at least a quarter of a century, according to rig counts published by oilfield services company Baker Hughes.
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Chevron still runs the region's most productive oilfield, and EU sanctions against Russia may have piqued European interest in Central Asian oil and gas.
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Quarterly revenue in oilfield services, which accounts for over half of total sales, rose 12.5 percent from a year earlier to about $3 billion.
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The number of active oil and gas rigs jumped by 22016 to 20173 last week, according to oilfield services company Baker Hughes (tmsnrt.rs/22017jSM220f).
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Benghazi, Libya, Dec 8 (Reuters) - Production at Libya's El Sharara oilfield is continuing despite a protest by tribesmen, a field engineer said on Saturday.
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MM. "This decision has a name and it's not Sechin, its (energy minister Alexander) Novak," Putin said of tax breaks for Rosneft's Samotlor oilfield.
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The long-running graft case revolves around the 2011 purchase by Eni and Shell of Nigeria's OPL-245 offshore oilfield for about $1.3 billion.
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Crude futures continued to slide after data from oilfield services company Baker Hughes showed U.S. drillers added 15 oil rigs in the last week.
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That's bad news for oilfield services firms like Baker Hughes, which sell tools and technology used by oil and gas exploration and drilling companies.
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Energy stocks received a boost from oil, which rose 1.61 percent to settle at $53.08 per barrel after Libya's largest oilfield was shut down.
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Oil prices rose more than 1 percent, supported by strong demand, uncertainty over the conflict in Syria and a shutdown at Libya's largest oilfield.
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Libya's internationally recognized government agreed with the state oil company to reopen the country's largest oilfield, El Sharara, according to a statement on Tuesday.
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Fields in eastern Libya resumed production after a standoff at export terminals ended, but output was cut mid-month at the largest oilfield, Sharara.
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Oilfield service company leaders have warned contract prices have been cut to unsustainably low levels and must increase, at least in the United States.
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"All we've seen is increases" in drilling activity, said Clint Concord, a sales manager at drilling services firm Byrd Oilfield Services in Midland, Texas.
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Oil prices had earlier on Monday been supported by reports that Libya's top oilfield had cut its output by 30 percent on security concerns.
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Exports could increase further as Iraq plans to start exports next week from the northern Kirkuk oilfield to Iran, using tanker trucks, he said.
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Attacks crippled the heart of Saudi oil production over the weekend, hitting the world's largest crude processing facility and the kingdom's second-largest oilfield.
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What it is: An oil and gas exploration and production company, and the largest leaseholder in the Bakken oilfield of North Dakota and Montana.
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Oilfield service providers are facing reduced spending by oil and gas producers as investors push for higher shareholder returns rather than more drilling activity.
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A weekly rig count kept by oilfield services firm Baker Hughes fell for the fifth time in six weeks, figures released on Friday showed.
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Oil and gas companies have in response slashed costs and delayed projects to weather weak oil prices, resulting in lower demand for oilfield services.
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The 280,000 bpd Sharara oilfield, the country's largest, was gradually restarting on Wednesday after the lifting of a pipeline blockade, Libyan oil sources said.
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On October 230 and 8, both Amazon and Microsoft participated in oilfield services provider Weatherford's "Production 4.0" conference in Houston to showcase their products.
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The midcap FTSE 250 gained 0.1%, helped by a 9% surge in Wood Group after the oilfield services provider forecast higher 2019 core earnings.
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Together with Exxon Mobil Corp, BHP Billiton said it is considering selling depleting energy assets in Australia, including Kingfish, the country's largest discovered oilfield.
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Lund, who is also chairman of Denmark's Novo Nordisk AS, will stand down as a director at oilfield service company Schlumberger with immediate effect.
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Google, meanwhile, has opened an entire Oil & Gas division in Houston, designed to solicit more oilfield automation and AI-enabled oil exploration business there.
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Meanwhile oilfield services firm John Wood Group agreed US$2.75bn of loans to support its £2.2bn (US$13 bn)acquisition of Amec Foster Wheeler.
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So, assuming total oil output worldwide is little changed over the coming months, the Sverdrup oilfield will soon account for 0.4% of global production.
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The Deloitte study found that oilfield service providers, which provide staffing and equipment needed to drill wells, are filing for fewer bankruptcies than producers.
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The case relates to a purchase of the offshore OPL 210 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 210.
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Petroregional, which operates the Urdaneta oilfield in Venezuela's western Maracaibo Lake, produces between 30,000 barrels per day and 35,000 bpd, according to Shell's website.
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Crude rebounded from an early loss after the shutdown of the El Feel oilfield in Libya, which produces 70,000 barrels per day of crude.
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EnQuest raised its interest in the Kraken oilfield to 70.5 percent earlier this year after buying part of First Oil's stake in the field.
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Production from the nearby Vincent oilfield through the Ngujima-Yin FPSO was suspended in May as the FPSO was sent to Singapore for modifications.
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On Thursday, Mi-35 attack helicopters had targeted Chadian opposition forces preparing to attack Sharara oilfield, Libya's biggest field, an LNA military official said.
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Reuters reported in 2500 that Rosneft was in talks with PDVSA to swap its Citgo collateral for oilfield stakes and a fuel supply deal.
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Ghadhban also told reporters in London that Exxon had completed an evacuation of its staff from an oilfield in southern Iraq for security reasons.
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The start-up of Catcher oilfield is key to increasing Premier's revenue to reduce debt, which stood at $2.8 billion at the end of September.
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Exxon paid more than $6 billion last year to double its acreage in the Permian Basin of Texas and New Mexico, the largest U.S. oilfield.
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GE is already pressing on with divesting several assets, including spinning off its healthcare unit and shedding its stake in oilfield services company Baker Hughes.
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BEIJING (Reuters) - China's top energy group China National Petroleum Corp (CNPC) has approved plans to restructure its oilfield services business, the company said on Wednesday.
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There are now almost 370 rigs drilling for oil in the Permian compared with 503 in the Bakken, according to oilfield services company Baker Hughes.
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An armed group on Monday attacked the southern El Sharara oilfield, which pumps 300,000 bpd, exploiting a vacuum as the LNA has moved troops north.
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Chief Financial Officer Jeff Bornstein told Bloomberg that GE had been in talks for businesses the two oilfield services giants were planning to sell. Questions?
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The company's demand followed a protest at the El Sharara oilfield, the country's biggest, over pay and working conditions this week, an engineer told Reuters.
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On the same day, oilfield services firm Baker Hughes reported drillers increased the number of rigs operating in U.S. fields for a fifth straight week.
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When the Hibernia oilfield was discovered in 1979 on the Grand Banks, a plateau in shallow waters, many doubted that petroleum could be pumped safely.
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Among them is a mothballed oilfield in a remote part of the country—so remote that it costs $90 to retrieve each barrel of oil.
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The LNA already secures oil ports in eastern Libya and last week also claimed control of the El Feel oilfield, which produces around 75,000 bpd.
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Meanwhile, Libya's biggest oilfield, El Sharara, will remain shut until departure of an armed group occupying the site, the head of National Oil Corp said.
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Libya's Sharara oilfield, the country's largest, shut on Tuesday after a problem with a valve on the pipeline linking it to the Zawiya oil terminal.
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The PetroChina officials said it also increased production capacity at its Xinjiang oilfield by 1.38 million tonnes this year, or about 27,000 barrels per day.
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BAGHDAD (Reuters) - Iraq's government voted to expand production from its Nasiriya oilfield to 100,000 barrels per day, Prime Minister Haider al-Abadi said on Tuesday.
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Halliburton — The oilfield services company posted a surprise profit of one cent per share, compared to analysts' forecasts for a six cents per share loss.
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Mitra could use the money to help fund the previously announced acquisition of Stag Oilfield, in the Carnarvon Basin off Western Australia, the source said.
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And the IEA forecast this week that shale-oil production by 2025 will exceed that of even the biggest oilfield in Saudi Arabia (see chart).
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The LNA says its campaign is aimed at combating militant groups and securing oil facilities in the south, which include El Sharara oilfield, Libya's biggest.
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At Zhongyuan oilfield in central China, one of Sinopec's largest crude deposits, the company said it has reduced its workforce to 23 workers from 10,000.
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NOC expects to cut production from the Sharara oilfield by half, or 150,000 barrels, starting from 9 am local time (7 am GMT) on Thursday.
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Schlumberger NV, the largest oilfield service company by revenue, and Halliburton Co are expected to swing to profit in the quarter from year-earlier losses.
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Libya's Sharara oilfield, the country's largest, shut after a problem on Tuesday with a valve on the pipeline linking it to the Zawiya oil terminal.
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Rockwell is the world's largest company that is dedicated to industrial automation, and Schlumberger, a competitor of Halliburton, is the world's largest oilfield services firm.
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The pilot project will centre on a former oilfield water disposal well in Leduc, central Alberta, which has been inactive for more than five years.
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Among other stocks, Halliburton Co rose 6.8%, the most among S&P 500 companies, after the oilfield services provider's second-quarter profit beat analysts' estimates.
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LONDON, July 20 (Reuters) - Libya's National Oil Corporation confirmed on Saturday that production at its 290,000 barrels per day El Sharara oilfield was currently offline.
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On Friday, oilfield services company Baker Hughes reported its weekly count of oil rigs operating in the United States jumped for a 19th straight week.
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MOSCOW, June 18 (Reuters) - Russia's largest oil producer Rosneft said on Sunday it had found an oilfield in the Laptev Sea in the eastern Arctic.
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The latter is negotiating to swap that collateral for oilfield stakes and a fuel supply deal, partly in order to avoid complications from U.S. sanctions.
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Oilfield services provider Baker Hughes Inc, said it expected the number of rigs active globally to decline by as much as 30 percent in 2016.
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Michael LaMotte, an oilfield services analyst and senior managing director at Guggenheim Securities expects supply to tighten, driving prices to $100 a barrel by 2018.
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The LNA says its campaign is intended to combat Islamic militants and secure oil facilities in the south, which include El Sharara oilfield, Libya's biggest.
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One bright spark in the sector was oilfield services firm Petrofac, who announced on Wednesday that its full-year revenue had risen by 211 percent.
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Prices remained steady after oilfield services firm Baker Hughes reported the U.S. oil rig count fell by just 1 rig, bringing the total to 515.
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Schlumberger, the world's largest oilfield services firm, is viewed a as bellwether for the global oil and gas industry due to its heavy international exposure.
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Exxon recently launched the sale of its stake in Azerbaijan's largest oilfield, which would mark its retreat from the former Soviet state after 25 years.
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Between 2007 and March of 2015, oilfield workers in seven fields that CNBC analyzed saw their average weekly wage rise by 48 percent to $1,2.13.
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Investors also weighed OPEC-led efforts to tighten crude supply against the restart of Libya's biggest oilfield and the prospect of weaker demand from China.
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Halliburton also weighed on the sector, down 2.8 percent after the world's No. 2 oilfield services provider reported a bigger loss in the latest quarter.
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Halfaya, operated by PetroChina, is Maysan Oil Company's largest oilfield, producing 370,000 barrels per day (bpd) of the company's total output of around 510,000 bpd.
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Prices were also buoyed by the partial closure of Saudi Arabia's Safaniya, its largest offshore oilfield with production capacity of more than 1 million bpd.
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U.S. oil production is on the rise, while the seizure of Libya's main oilfield by Eastern armed forces this week could lead to its reopening.
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The European Commission said on Tuesday it had launched an in-depth investigation into oilfield services provider Halliburton's planned purchase of its rival Baker Hughes .
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Among these businesses is Al Shaheen, a holding company fully owned by Qatar Petroleum and which has three joint ventures in the oilfield services industry:.
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CNPC signed a deal with Iran in January 2009 to develop the North Azadegan oilfield, a project also worth $2 billion in its first phase.
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The US oil rig count this week rose by 10 to 351, the highest count since April 15, according to oilfield-services giant Baker Hughes.
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The sovereign funds are thought to be taking a minority stake of 13-15 percent in Eurasia, Russia's largest oilfield services company by metres drilled.
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The oil company also said its flagship Kraken oilfield in the North Sea was on track to begin producing oil before the end of June.
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The helicopter was carrying employees of a contractor from oil major Rosneft's Suzun oilfield, part of the Vankor deposit, Russia's northernmost onshore oil production project.
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The Khurais oilfield produces about 1% of the world's oil and Abqaiq is the company's largest facility that can process 7% of the global supply.
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On Friday, oilfield services firm Baker Hughes reported its weekly count of oil rigs operating in U.S. fields fell for the first time since January.
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The number of oil rigs operating in U.S. fields remain unchanged for a second week in a row, according to oilfield services firm Baker Hughes.
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Oilfield services provider Halliburton sank 7.5 percent, the most on the S&P 500, as investors focused on growing pipeline constraints in the Permian Basin.
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At the Raguba oilfield, a Sirte official said youths demanding improved state services who had blocked production had ended their blockade after the company intervened.
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Shares of the Midland, Texas-based company, which operates in the Permian Basin, the largest U.S. oilfield, are up about 11 percent since the move.
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Aker BP said Norway's oil safety watchdog on Wednesday approved the company's plans to switch controls at its Ivar Aasen oilfield in the North Sea.
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Libyan state oil company (NOC) said production would resume at its 315,000 barrels per day El Sharara oilfield to regular output over the coming days.
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Lower: Paal Kibsgaard, CEO of oilfield services giant Schlumberger, had $8.8 million in compensation based on ARG, compared to $20.8 million in the summary table.
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Companies also face problems with pressure imbalance and high natural gas levels at new shale oil wells in the Permian Basin, the largest U.S. oilfield.
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"Trump wants cheap gas for consumers," Daniel Eberhart, a Republican fundraiser and CEO of oilfield services firm Canary LLC, told CNN Business in an email.
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Within a year, Sargeant had inked an attractive oilfield agreement to help raise plummeting crude production in Venezuela, whose economy is in a free fall.
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In 2016, Houston, Texas-based EnVen purchased Royal Dutch Shell Plc's Brutus and Glider oilfield assets in the U.S. Gulf of Mexico for $425 million.
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Oilfield services providers have been hit by lower capital spending from oil and gas producers due to price volatility amid concerns of a global slowdown.
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When some regime-loyal militias, aided by Russian contractors, tried to seize an oilfield in February, they were met with intense US firepower, killing dozens.
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U.S. oilfield services firm Halliburton on Tuesday disclosed a $210 billion charge to earnings as weakening North American shale activity continued to hit the industry.
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The company, a partner in Norway's giant Johan Sverdrup oilfield development, said the project was "firmly on track" to deliver first oil in late 2019.
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Among these businesses is Al Shaheen, a holding company fully owned by Qatar Petroleum and which has three joint ventures in the oilfield services industry.
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Rather, domestic independent companies, such as oilfield service providers or firms with some exploration experiences abroad may be drawn to the game, said IHS's Zhu.
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NEW YORK (Reuters) - Cash, people and equipment are pouring into the prolific Permian shale basin in Texas as business booms in the largest U.S. oilfield.
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Shell pulled out of the Majnoon oilfield in Iraq two years ago and earlier this year sold its stake in a refinery in Saudi Arabia.
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Based approximately 87 miles off the West coast of Norway, the Johan Sverdrup oilfield represents the largest North Sea discovery in more than three decades.
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ACCRA (Reuters) - Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield.
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In the Permian Basin, the country's largest oilfield, the 2.5 million barrels of oil produced daily generates about 15 million barrels of water per day.
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GPOC, its other venture that has produced oil and whose largest stakeholder is CNPC, has taken initial steps to resume operations in its Unity oilfield.
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Other oilfield services firms have taken charges recently from receivables and promissory notes exchanged for debts from state-run oil company Petroleos de Venezuela PDVSA.
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The second phase development of the oilfield, which lies around 50 miles west of the Shetland Islands, is a joint venture with Shell, Chevron and ConocoPhillips.
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Benghazi, Dec 19 (Reuters) - A spokesman for protesters occupying Libya's El-Sharara oilfield said on Wednesday the facility would be reopened when their demands are met.
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Last year, Baker Hughes landed a major deal with Twinza Oil to provide oilfield services, equipment and financing for an offshore development near Papua New Guinea.
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Kazakhstan, which relaunched its giant Kashagan oilfield in November, may offer to freeze oil output at last month's level, Energy Minister Kanat Bozumbayev said on Friday.
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BENGHAZI, Libya (Reuters) - Libya's Sharara oilfield, the country's largest, has been shut down since Saturday because of a pipeline blockade, industry sources and an engineer said.
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Drawn to Ghana's hydrocarbon potential, ExxonMobil Corp recently signed a deal with Ghana to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield.
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Both have major oil companies, oilfield service providers and technology firms that hope to secure contracts to develop the kingdom's oil, gas, refining and petrochemical industries.
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The companies will operate the southern oilfield on behalf of Iraqi state-owned Basra Oil Company which is taking over operations there from Royal Dutch Shell.
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Costs for everything from skilled workers and drilling contracts to steel, raw materials, seismic surveys, engineering and a host of other oilfield services are pro-cyclical.
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He also declared that he would, in time, spin off its health-care division and sell its majority stake in Baker Hughes, an oilfield-services firm.
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But estimates put more than 60 percent of the world's oil reserves and 40 percent of its gas reserves in carbonates, the oilfield services firm notes.
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Also on Friday, oilfield services firm Baker Hughes reported the number of rigs operating in U.S. fields fell by 2000 to 2400 in the previous week.
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It has also been squeezed by lower oil prices, which have undercut profits of oilfield companies like Schlumberger and , forcing them to slash spending on equipment.
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"I think it has the potential to be the single largest oilfield in North America," said Myers, though he cautioned he couldn't say so with certainty.
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As the United States reaches full employment, oilfield services companies and drillers could face a shortage of workers and may have to pay dearly for them.
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A joint Russian and Saudi fund will invest $150 million in Russian private oilfield services firm Eurasia Drilling Company Limited, the ministry quoted Novak as saying.
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On Friday, data from oilfield services provider Baker Hughes showed that the U.S. oil rig count rose last week for the fifth time in six weeks.
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Oilfield services provider Weatherford International, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection.
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Oil and gas accounted for 21% of exports last year; the mammoth Kashagan oilfield is one of the biggest discoveries in the world in recent decades.
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Schlumberger was up 4.8 percent at $64.42 after the world's biggest oilfield services company reported better-than-expected profit and set a $10 billion buyback program.
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The combination of GE Oil & Gas and Baker Hughes will create the second-largest player in the oilfield services industry in terms of revenue after Schlumberger.
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Market leader Schlumberger is scheduled to report on Thursday and Baker Hughes Inc, the world's third-largest oilfield service firm, is scheduled to report on Tuesday.
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RDIF head Kirill Dmitriev said his fund was interested in partnering with Saudi investors to acquire a minority stake in Russian oilfield services firm Eurasia Drilling.
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Check out the companies making headlines midday: Halliburton — Oilfield services company Halliburton's stock rose 24.12% after the company announced its quarterly earnings before the opening bell.
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Libya's Sharara oilfield, the country's largest, shut down on Tuesday after a problem with a valve on the pipeline linking it to the Zawiya oil terminal.
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ACCRA (Reuters) - Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil's deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.
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Weatherford Corp, a key oilfield service provider, said Wednesday afternoon that it would cut about 6,5503 jobs, or roughly 11 percent of its workforce, by June.
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Kashagan, one of the biggest oil fields to be developed in recent decades, came onstream 11 years behind schedule and was dubbed the most expensive oilfield.
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Baker Hughes — The oilfield services company reported a quarter loss of 15 cents per share, smaller than the 44 cents a share loss expected by analysts.
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Last month it lost the Qayyara oilfield, south of Mosul, to government forces thrusting northwards in an offensive to retake the largest city under IS control.
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Following cost-cuts and redesigns, oil companies, including top producer Statoil, have recently presented plans for some oilfield developments and said more may come in 2017.
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"There's just frankly too many players," Roe Patterson, CEO of Fort Worth, Texas-based Basic Energy Services Inc, said of the oilfield services industry in May.
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N) is already pressing on with divesting several assets, including spinning off its healthcare unit and shedding its stake in oilfield services company Baker Hughes (BHGE.
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Oil prices were at their highest for the year so far this year after an outage at Saudi Arabia's offshore oilfield boosted expectations for tightening supply.
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In commodities, oil prices rose nearly 1 percent supported by strong demand and uncertainty over the conflict in Syria and another shutdown at Libya's largest oilfield.
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But bringing most oilfield fleets online comes at a cost, including expenses involved with repair and upkeep, and re-hiring of employees to man the equipment.
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He spent $10.1bn to buy Alstom, a French company selling power-generation kit, and $7.4bn to win control of Baker Hughes, an American oilfield-services group.
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U.S. oil production is on the rise, while the seizure of Libya's main oilfield by Eastern armed forces this week could soon lead to its reopening.
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Norway's Statoil said on Tuesday it was confident Eni would resolve problems besetting their joint Arctic Goliat oilfield, as a shutdown there neared its second month.
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"The oilfield services industry is feeling the effects of E&P company emphasis on (capital) discipline," John Lindsay, chief executive of driller Helmerich and Payne (HP.
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In commodities, oil prices briefly dipped on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts.
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TRIPOLI, Libya, Dec 8 (Reuters) - Libya's El Sharara oilfield is being closed due to a tribal protest, two engineers and a tribal spokesman said on Saturday.
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BENGHAZI, Libya (Reuters) - Libyan forces killed three suspected Islamic State fighters near an oilfield in the southeast of the country, a local official said on Saturday.
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Genel slipped further into the red last year after it again downgraded reserves at its flagship oilfield and weak oil prices ate into profits, it said.
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Cameron International — The European Union cleared the acquisition of the equipment maker by Schlumberger, citing limited overlap in activities between Cameron and the oilfield services company.
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NOC said in a statement later it had agreed to lift a force majeure on Sharara oilfield, and production at the field would reach 200,000 bpd.
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Weatherford International — Weatherford announced a secondary offering of 80 million common shares, with the oilfield services company planning to use the proceeds for general corporate purposes.
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The bank cited estimates from oilfield services firm Schlumberger at CERAWeek that Venezuela's production might have plunged to roughly 0003,000-700,000 barrels per day this month.
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On the earnings front, Halliburton Co rose 21.50%, the most among S&P 21 companies, after the oilfield services provider's second-quarter profit beat analysts' estimates.
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Oilfield equipment utilization fell nearly 13 points and profitability tumbled 26 points versus the previous quarter, according a June survey by the Dallas Federal Reserve bank.
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I went to college in Melbourne, did a PhD in chemical engineering, and then became a field engineer for a multinational oilfield service company in Perth.
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Engineering and oilfield services companies have seen revenues plunge as miners and energy exploration and production companies cut spending to weather weak oil and commodity prices.
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Itochu - the least exposed to natural resources of the five - is set to buy a stake in Iraq's West Qurma 1 oilfield from Royal Dutch Shell.
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A more than 50 percent fall in oil prices since mid-2014 eroded demand for services provided by oilfield companies, setting off a wave of consolidation.
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Prices were also buoyed by the partial closure of Saudi Arabia's Safaniya, its largest offshore oilfield with a production capacity of more than 1 million bpd.
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Crude oil climbed to a five-week high on Tuesday, underpinned by a shutdown at Libya's largest oilfield over the weekend and on uncertainty over Syria.
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General Electric Co agreed to merge its oil and gas business with Baker Hughes Inc in October to create the world's second-largest oilfield services provider.
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About 77 percent of the respondents reported an improved company outlook, with over 80 percent of oilfield services firms offering a better view for the future.
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With oilfield activity suddenly contracting, production from a dwindling number of freshly fracked wells would be unable to compensate for the rapid depletion of older wells.
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Chevron, the second largest leaseholder in the Permian Basin, which is the largest American oilfield, has devoted much of its 2017 capital budget to shale projects.
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In May 2015, the group kidnapped a Czech, an Austrian and a Bangladeshi among other foreigners when they overran an oilfield in the south of Sirte.
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Sharara, which is Libya's largest oilfield, has suffered repeated security problems around the perimeter of the field though production has been relatively stable in recent months.
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Zawiya exports crude from Libya's giant El Sharara oilfield, which produces 300,000 barrels per day (bpd), more than a quarter of the North African country's output.
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ACCRA, Jan 18 (Reuters) - Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore oilfield.
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When oil jobs are plentiful, companies desperate for labor sometimes will disregard signs of substance abuse, said three recovering drug addicts who worked in the oilfield.
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Moody's Investors Service is warning of potential downgrades in its ratings that could hike borrowing costs for 69 U.S. exploration and production and oilfield services companies.
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However, the number of rigs operating in Saudi Arabia has climbed from 105 to 126 over the same period, according to oilfield services company Baker Hughes.
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Despite this, other factors weighed on oil prices, including the return to production of Libya's Sharara oilfield after an armed brigade forced a two-day shutdown.
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Shares of pressure pumper Liberty Oilfield Services this week fell to a record low of $10.96, less than half its peak of $23.90 in May 2018.
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Crude prices rose as the market balanced OPEC-led efforts to tighten supply with the restart of Libya's biggest oilfield and the prospect of weaker demand.
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HOUSTON (Reuters) - When General Electric Co bought oilfield services giant Baker Hughes last July, it created a global industry colossus with $218 billion in annual revenue.
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DUBAI, Sept 20 (Reuters) - Libyan guards have closed the airport of the Wafa oilfield, co-owned by Italy's ENI, state oil firm NOC said on Thursday.
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A Nigerian court ordered in January the seizure of the oilfield assets and transfer of operations to the federal government on the request of the EFCC.
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On Saturday, the LNA carried out four air strikes near the El Feel oilfield, run by NOC, after a plane landed there, a field engineer said.
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Instead, authorities are looking to increase output from Bahrain's own oilfield by tapping pre-khuff gas, which is gas located in deep deposits, Sheikh Mohammed said.
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Oilfield service firms "have been subsidizing E&Ps for the past few years, and were just getting by," said Robert Callaway, CEO of Range Valuation Services.
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" JAMES WEST, SENIOR MANAGING DIRECTOR, OILFIELD SERVICES ANALYST, EVERCORE ISI: "This highlights the continued geopolitical tensions in the Middle East and should push oil prices higher.
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ALMATY, Kazakhstan, Nov 28 (Reuters) - Compressor malfunctions at Kazakhstan's Kashagan oilfield will be fixed in the coming days, Deputy Energy Minister Makhambet Dosmukhambetov said on Thursday.
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His comments echoed ones from U.S. oilfield services firm Baker Hughes on Wednesday about a slowdown in U.S. drilling activity that hit its first-quarter revenue.
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Oil and gas firm Beach Energy Ltd fell about 3 percent, while oilfield services firm WorleyParsons and gas producer Santos Ltd shed about 2 percent each.
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Other oilfield services firms also have taken write-downs recently from receivables and promissory notes exchanged for debts from state-run oil company Petroleos de Venezuela.
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Production from Nahr Bin Omar, which is operated by the state-run Basra Oil Co., now stands at around 44,000 barrels per day, oilfield officials said.
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KHOBAR, Saudi Arabia (Reuters) - State oil giant Saudi Aramco is considering expanding its oil and gas production from the Berri offshore oilfield, industry sources told Reuters.
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The world's No.3 oilfield services provider said on Monday its revenue rose to $5.44 billion in the latest quarter from $3.83 billion a year earlier.
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Third, Johnson looked at the stock of oilfield equipment company National Oilwell Varco, which gained nearly 1% early on Friday, sitting just under $22 per share.
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The bottlenecks have driven down the price of regional crude compared with U.S. benchmark oil and are threatening to dampen demand for oilfield services and equipment.
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With costs for big-ticket items like rigs and labor already slashed, oilfield services providers will have to look to marginal areas for any further savings.
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