oilfield services
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As the biggest US companies grow bigger, the advantage of scale becomes clearer.
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The world's largest oilfield service company made the deal to expand its exposure to the less cyclical production segment of the upstream business.
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The merged companies will emerge as a new company, Innovex International, increasing its global scale and footprint in growing markets.
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A leaner and wiser Weatherford seeks new Middle East contracts while growing margins and market share on existing business.
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The world's two largest oilfield service outfits are riding a wave a renewed upstream spending while Baker Hughes posted its second straight quarterly loss.
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ADNOC awarded a new round of contracts to international service companies, intending to apply directional drilling and LWD to boost production by getting a better assessment of its reservoirs.
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Schlumberger, Baker Hughes warn of an uncertain future for their work in Russia while Halliburton prepares for a full wind down. In turn, all look to North America for revenue growth.
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A recent survey by the Dallas Fed indicates significant improvement in oil and gas companies’ outlooks, tempered by high levels of uncertainty in oil prices, ongoing supply-chain limitations, and workforce shortages. Small operators outpace large operators in expected increases in production.
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Altus brings well intervention technologies, including tractor and power mechanical application solutions.
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Drillers are feeling good about higher oil prices, but only to a point.
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