E&P Spending Cuts Spur Requests for Reduced OFS Fees
The shale industry could shoulder 65% of $100-billion 2020 global E&P spending cut. Can oilfield services providers afford to cut their fees further to prop up hard-hit operators?
Rystad Warns of Gloomy Start to 2020 for Oilfield Service Firms
Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020.
Basic Energy Services to Leave Pressure Pumping Business
The company said it will avoid the pumping business's “structurally disadvantaged position” and instead focus on well servicing and water logistics.
Weatherford Emerges from Chapter 11, Eliminates $6.2 Billion in Debt
The company also secured $2.6 billion in exit financing facilities, including a $450-million revolving credit facility, as well as a $195-million letter of credit facility and more than $900 million of liquidity.
Oilfield Service Firms Branch Out Past Oil and Gas
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
Newly Merged C&J Energy, Keane To Become NexTier Oilfield Solutions
Expected to close 31 October, the deal will create one of the largest pressure pumpers in the US.
Schlumberger, Halliburton Mull New North American Land Strategies
The two largest oilfield services firms grapple with a worsening North American land market.
Weatherford Prepares for Difficult Services Market into Early 2020s
The company, which filed for Chapter 11 protection in June, revised downward its revenue projections amid lower expectations for the US oilfield services market and oil prices.
Dallas Fed Survey: Oilfield Service Woes Fuel 3Q Upstream Industry Contraction
Lower equipment utilization and prices have worsened the pain for oilfield service companies in Texas, New Mexico, and Louisiana, while operators continue to grapple with the industry’s shifting business climate.
North America E&P Capital Efficiency Likely to Stall in 2019-2020
Cost inflation and volatile commodity prices pose threats to sustained financial improvements.
Led by Frac, The Oilfield Services Space Could Get Interesting in 2019
Slumping oil prices may throw a wrench into a positive outlook for the global oilfield services and equipment industry. Even if prices rebound, complications in the US fracturing market—and elsewhere—are expected to persist.
US Shale Consolidation Heats Up as Firms Mull Long-Term Survival
With big shale mergers dominating the headlines, some of the industry’s most influential financial players gathered to discuss what’s driving the shift in operational and fiscal priorities.
Oilfield Service Patent Contests Get Heated
From the highest courts of the US judicial branch to the C-suite, contests involving patents have recently come to the fore in the innovation hungry US oilfield services industry, even as filings and litigation have declined in recent years.
Service Companies Encouraged by Pickup in Business
Full-year 2017 and fourth-quarter financial results show an improving picture for the industry’s three largest oilfield services companies. After 3-plus years of cutbacks, the service sector outlook has turned relatively positive.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
26 May 2020
20 May 2020