Home / Tag Archives: oilfield services

Tag Archives: oilfield services

Schlumberger projects global oil and gas drilling recovery

Schlumberger cuts more jobs in first quarter

During 2016, the “oil glut” that helped drive global oil prices down was the impetus for cutbacks by OPEC and other oil-producing nations. But oilfield services company Schlumberger chairman and CEO Paul Kibsgaard mentioned a shortage, not oversupply, of oil in years to come, reports Fuelfix. In a conference call with investors, Kibsgaard said drillers will need to begin putting ...

Read More »

US rig count drops 12 this week to all-time low of 464

rig count, baker hughes

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped 12 this week to 464, a record low amid continuing price woes in the energy industry. A year ago, 1,048 rigs were active. Houston-based oilfield services company Baker Hughes Inc. said Thursday 372 rigs sought oil and 92 explored for natural gas. Among ...

Read More »

Keeping it clean: Using natural gas as a smart energy source

light tower rentals natural gas generator

When people imagine an environmentally-friendly future, they picture massive wind turbines spiraling peacefully in the wind, solar panels collecting near-endless sunshine, and dams wrangling the sheer power of the waterways. They don’t, however, imagine a natural gas processing plant or natural gas generators. If humanity is to ever realistically achieve a “green” future, they should. Natural gas production has increased in years ...

Read More »

Number of US rigs down to 502; Texas down 5

Number of US rigs drops to 502; Texas down 5

HOUSTON (AP) – Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 12 this week to 502. The Houston company said Friday that 400 rigs sought oil and 102 explored for natural gas amid depressed energy prices. A year ago, 1,267 rigs were active. Among major oil- ...

Read More »

Halliburton to cut 5,000 more jobs

Halliburton to cut 5,000 more jobs

Oilfield services company Halliburton will eliminate 5,000 more jobs – about 8 percent of its global workforce. Ongoing market conditions led to the decision, according to a company statement. As oil prices hover near $30 per barrel, producers struggle to remain viable. Benchmark U.S. crude sold for $33.07 on Thursday. “We regret having to make this decision but unfortunately we ...

Read More »

Rig count down 27 to 514; Texas drops 12

US rig count drops 27 this week to 514; Texas down 12

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 27 this week to 514. The Houston company said Friday 413 rigs sought oil and 101 explored for natural gas amid depressed energy prices. A year ago, 1,310 rigs were active. Among major oil- and ...

Read More »

IHS Names Sourcewater Inc an Energy Innovation Pioneer for 2016

IHS, the leading source of insight, analytics and expertise in critical areas that shape today’s business landscape, has named Sourcewater, Inc. an Energy Innovation Pioneer for 2016. Sourcewater will be featured at CERAWeek, the world’s premier energy industry gathering, to be held February 22-26 in Houston. Sourcewater, a spinout from MIT’s Energy Ventures program, is the first online marketplace for ...

Read More »