North American Contractions: Murphy Oil, Marathon Oil, and Halliburton
With US oil prices struggling to top $25, oil companies and service providers are making deeper cuts this month to cope. The biggest come from Halliburton which may have shed 5,000 total jobs since the start of the year.
Permian Completions Activity Falling Fast, But Not Evenly
While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews.
Oilfield Service Giants Report Billions in Losses
Halliburton and Schlumberger write-off billions in asset value and signal that more job cuts are coming during the second quarter.
Further Cuts Announced Due to Low Oil Price, Supply/Demand Imbalance
ExxonMobil and Halliburton made additional cuts in spending and personnel.
Spending Cuts First, Job Cuts Are Next
Oil exploration and production jobs globally are at about the level they were after deep cuts following the 2014 crash. Now companies need to find more to cut.
Halliburton Issues Mandatory Furloughs at Headquarters
The world’s second-largest service firm has seen its share price tumble by 75% as a result of the COVID-19 pandemic and a brutal price war. Workers at Halliburton’s main campus are among the first to feel the impacts.
Schlumberger, Halliburton Downsize Fracturing Services Amid Shale Sector’s “Biggest Test”
The two oilfield service leaders serve as critical bellwethers for the health of North America’s upstream sector, which is under pressure to consolidate and generate free cash flow.
Schlumberger, Halliburton Mull New North American Land Strategies
The two largest oilfield services firms grapple with a worsening North American land market.
Alliances Drive Upstream Digital Deployment
Partnerships with big tech, tech startups, and innovative service companies—and the merging of their data, cloud, and software applications—are proving essential for operators in the scaling phase of digital deployment. Equinor, Microsoft, and Halliburton are among those joining forces.
E&P Growth Shifts Offshore and Globally But More Cost and Job Cuts On the Way
A comeback in offshore and international exploration and production is making up for the North American slowdown, but it is a difficult transition.
Service Companies Remain Optimistic Despite Tough Start in 2019
The three largest service companies are optimistic about the rest of 2019.
Schlumberger and Halliburton Warm on Global Market, Cooler on US Shale
The two biggest oilfield services providers are enjoying a rebound in international activity but continue to struggle with a softening US shale completions market. While takeaway constraints will be temporary, steep shale production declines may emerge as a longer-term challenge.
Halliburton Aims For Better Wells With Automated Fracturing
The pressure pumping giant turns to algorithms to get better fractures and fewer problems.
Dog Food, Subs Feed Technology Development at Halliburton
Seeking out, experimenting with, and ultimately embracing technologies from other industries have proven crucial to innovating at oilfield service firms such as Halliburton, which has tried everything from dog food to submarine tech to improve its work downhole.
Saudi Aramco, Halliburton Sign Landmark Deal
Saudi Aramco is tapping Halliburton’s expertise in developing unconventional resources to increase domestic gas production, a pillar of its long-term strategy.
US Onshore Pressure Pumpers Adjusting to New Market Demands
Higher oil prices and higher-intensity completions are increasing the need for US onshore pressure pumping horsepower. Will still recovering pressure pumpers and equipment manufacturers be able to step up?
Need for Reserves Replacement Drives Exploration Investment
Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
Seeking Ways To Produce More Oil by Doing Better Fluid Imaging
Electromagnetic (EM) reservoir imaging is likely to get more attention from operators thanks to a collaboration between Halliburton and a leader in this emerging technology, GroundMetrics.
Why Can’t We Apply Advanced Technologies More Often to Vertical Wells in Mature Fields?
The oil and gas industry should pay more attention to mature vertical wells but it first must consider technology and cost.
Seeking Big Oil Production Gains By Fracturing With Microproppant
Early testing suggests that grains of proppant so small they need to be measured in microns can add production by slowing the notoriously rapid declines in unconventional wells.
Halliburton Reveals Refracturing Strategy
Although refracturing is a topic that has gained a lot of interest, many shale producers have been sitting on the sidelines because early results did not justify the spending
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30 June 2020
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