Tag: Oilfield Services
Oilfield services giant Schlumberger invests in crude production to beat out rivals
By investing in its customer projects, Schlumberger does not have to bid for work, all but excludes competition Schlumberger NV, the world’s largest oilfield services company is spending billions of dollars to invest in its customers’ oil and gas projects. The arrangement means the company will have a say in drilling decisions, oilfield management and […]
Halliburton CEO to retire in June, Jeff Miller to replace Lesar
Halliburton CEO Dave Lesar to stay on as executive chairman Halliburton CEO Dave Lesar will retire on June 1, the oilfield service provider announced on Wednesday. Lesar will be replaced by Jeff Miller, board member and Lesar’s longtime deputy. According to a Reuters report, Lesar will remain at Halliburton as executive chairman until December, 2018 […]
Schlumberger takes hit in Q3, expects a rough 2016
Schlumberger revenue down as recovery in oil patch delayed according to Chairman and CEO Paal Kibsgaard Energy services giant Schlumberger says its revenue continues to drop due to low oil prices and it expects 2016 to be another tough year. The company reported its Q3 earnings late last week and the news was not good. During the […]
Quantum Energy Partners closes sixth private equity fund at $4.45 billion
Quantum Energy says it plans to expand into oil and gas midstream, oilfield services and power generation sectors Houston-based Quantum Energy Partners announced Wednesday that it has raised a total of $4.45 billion to invest in the energy sector. Quantum Energy has held its final closing on Quantum Energy Partners VI and its affiliates at its hard […]
Oilfield services costs dropped up to 30% – Fed
Permian Basin hit hardest by drop in demand for oilfield services, says Federal Reserve Bank Oil and gas producers got a glimmer of good news when the Federal Reserve Bank reported that oilfield services are costing 20 to 3o per cent less since the start of 2015. The information came from the Fed’s June Beige Book, […]
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