Oilfield Services News

 

SLB, INEOS Energy in AI-Powered Subsurface Technology Partnership

Sep 05, 2023

Oilfield services and technology firm SLB has signed a subsurface technology partnership with INEOS Energy, the energy division of INEOS, a global chemical and manufacturing company. INEOS Energy will partner with SLB’s Performance Centre in Aberdeen…

Wood, Shell in Multi-year Services Deal

Aug 02, 2023

Wood, an energy industry consulting and engineering company, said Wednesday it had signed a multi-year enterprise framework agreement (EFA) to continue to provide services to Shell’s global projects.Bringing specialist consulting, engineering…

SLB Tops Earnings Estimates on Demand for Offshore and International Drilling

Jul 21, 2023

SLB beat analysts' estimates for quarterly profit on Friday as a rebound in offshore and international drilling activity boosted demand for its oilfield services and equipment, even as activity in North America declined. Drilling activity in regions such as the Middle East and Asia…

Halliburton, Baker Hughes Beat Profit Estimates as International Demand Offsets Weak N. America

Jul 19, 2023

Halliburton Co and Baker Hughes beat analysts' estimates for second-quarter profit on Wednesday on the back of strong demand for oilfield services internationally, even as domestic activity stumbled. While oilfield drilling has seen a resurgence abroad…

Oilfield Service Providers to Get Lift from International, Offshore Demand

Jul 18, 2023

The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America.Baker Hughes, Halliburton…

Aurora Energy Services Strengthens Executive Team with COO Appointment

Jul 14, 2023

Aurora Energy Services, a recently launched, Aberdeen-based energy industry services provider, said Friday it had appointed Tom Smith as Chief Operating Officer 'as it closes in on further acquisitions which will lay the foundation for establishing a £100 million revenue business…

STATS Group and EPOMS Sign Exclusive Deal for Offshore Services in Malaysia

May 22, 2023

Pipeline engineering specialist STATS Group said Monday it had signed an exclusive supply agreement for its products and services with Malaysia’s E&P O&M Services Sdn Bhd (EPOMS).EPOMS provides integrated frontline operations and maintenance services for oil and gas platforms…

Buyout House Apollo Rules Out Takeover of Britain's Wood Group

May 15, 2023

U.S. private equity firm Apollo Global Management on Monday said it would not proceed with a takeover offer for British oilfield services and engineering firm John Wood Group after tabling an exploratory bid last month.Apollo had until later…

Petrofac's Annual Operating Loss Widens on Cost Overruns

Apr 27, 2023

Oilfield services provider Petrofac on Thursday reported a steeper full-year operating loss, hit by cost overruns at its largest division amid contractual and commercial issues. Petrofac saw a rise in orders last year, as it benefited from high…

Halliburton Posts Higher Quarterly Profit on Strong Oilfield Services Demand

Apr 25, 2023

Halliburton Co reported a higher first-quarter profit on Tuesday, wrapping up upbeat earnings from the world's top oilfield services providers as higher oil prices encouraged drilling activity and boosted demand for services and equipment. Global…

New Aberdeen-based Energy Services Firms Eyes £100M Turnover

Apr 21, 2023

Aurora Energy Services, a newly launched, Aberdeen-based energy industry services provider, said Thursday it had acquired two long-established Scottish businesses.Namely, Aurora has acquired Huntly-based offshore services and fabrication company R&M Engineering…

Baker Hughes to Deliver Compressor Trains for Petronas FLNG Facility

Apr 20, 2023

Oilfield services and technology firm Baker Hughes has won an order by Black & Veatch, a subcontractor to the JGC and Samsung Heavy Industries consortium, to deliver two LM9000-driven compressor trains for the Petronas nearshore liquefied natural gas facility in Sabah…

Baker Hughes Beats Profit Estimate

Apr 19, 2023

Oilfield firm Baker Hughes Co beat first-quarter profit estimates on Wednesday, as stronger oil prices have supported demand for its equipment and services. Global oil futures are currently trading around $83.12 a barrel, down about 22% from…

Oslo-listed Archer Completes Acquisition of Baker Hughes' UK CT&P Business

Apr 04, 2023

Oslo-listed offshore oil and gas services company Archer has completed the acquisition of Baker Hughes' Coil Tubing and Pumping business in the UK.In February, the two companies signed official agreements for Archer to buy Baker Hughes' coil tubing and pumping (CT&P) business in the United Kingdom…

Aker BP Selects ABL Group for Marine Warranty Survey Services for Offshore Field Developments

Mar 27, 2023

Norwegian oil company Aker BP has awarded a contract to  ABL Group (ABL) for the provision of marine warranty survey (MWS) services for the Yggdrasil and Valhall PWP-Fenris offshore field development projects offshore Norway.ABL’s Stavanger…

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