Oilfield Services News


SLB Boosts Shareholder Returns. CEO Says Upstream Spending 'Very Resilient'

Nov 04, 2022

Top oilfield services firm SLB will raise its quarterly dividend next year by 43% and resume a share buyback program, executives said on Thursday, offering an upbeat view of energy markets. Although annual revenues have fallen every year since 2019…

ADNOC Awards $4B Worth of Integrated Drilling Fluids Services

Nov 01, 2022

Abu Dhabi National Oil Company (ADNOC) on Tuesday announced the award of three framework agreements valued at $4 billion (AED14.68 billion) for integrated drilling fluids services (IDFS) to support the ongoing expansion of its 'lower cost and…

Baker Hughes Increases Dividend, Authorizes Share Buyback

Oct 28, 2022

Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…

Italy's Saipem Ups 2022 Guidance after Beating Expectations in Q3

Oct 27, 2022

Italy's Saipem improved its guidance for the full year after third-quarter adjusted core earnings and revenue beat analysts' expectations. The energy contractor reported on Thursday an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 215 million euros ($216…

Halliburton's Profit Rises as Higher Oil Prices Spark Demand for Its Services

Oct 25, 2022

Halliburton Co posted a rise in profit for the third quarter on Tuesday, wrapping up an upbeat earnings season from the world's top oilfield services providers on strong demand fueled by higher oil prices. Brent crude averaged $98.96 a barrel during the third quarter…

COSL Bags $1,92B Worth of Offshore Drilling Service Deals in Middle East

Oct 25, 2022

Chinese offshore drilling contractor China Oilfield Services Limited (COSL) said Monday it had recently signed several long-term drilling rig service contracts in the Middle East. The contracts are worth around RMB14 billion (~$1,92 billion) in total…

World's Largest Oilfield Services Firm Rebrands for a Lower-carbon Future

Oct 24, 2022

Schlumberger, the world's largest oilfield services provider, is rebranding itself with a new name, color scheme and logo that underscores its ambitions for a lower-carbon future, the company said on Monday. The nearly 100-year-old firm, originally named after its founding family…

Schlumberger Third-quarter Profit Jumps as Drilling Activity Picks Up

Oct 21, 2022

Top oilfield services provider Schlumberger Ltd reported a 64.9% jump in third-quarter profit on Friday that topped Wall Street expectations as a surge in oil and gas prices led to more drilling activity. Oil and gas producers are looking to…

Baker Hughes Names Buese New CFO

Oct 19, 2022

Oilfield services company Baker Hughes has appointed Nancy Buese as Chief Financial Officer effective November 2, 2022. 'Buese brings more than 30 years of financial and leadership experience to the role,  previously serving as EVP & CFO of…

Baker Hughes Posts Quarterly Loss on Charges

Oct 19, 2022

Baker Hughes Co posted a quarterly loss on Wednesday, compared with a profit a year ago, hit by $230 million in restructuring and impairment charges relating to the oilfield services provider's latest reorganization. The company during the recent…

U.S. Oil Service Firms' Results to Show Impact of Demand, Inflation

Oct 18, 2022

Oilfield service firms are poised to deliver the strongest third-quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts.Schlumberger…

Arabian Drilling Set to Raise over $700M in IPO

Oct 12, 2022

Arabian Drilling Company, a Saudi oilfield services firm, said on Tuesday it will price its initial public offering at 100 riyals a share and is set to raise 2.67 billion riyals ($710.58 million).The final price is at the top end of a price range announced last month…

Halliburton Completes Sale of Russia Operations

Sep 09, 2022

Oilfield services firm Halliburton Co said on Thursday it has completed the sale of its Russia operations and no longer operates in the country.In March, Halliburton suspended its operations in the country in response to U.S. sanctions over…

Saipem Names Energy Industry Veteran Puliti as CEO

Aug 31, 2022

Saipem  has promoted Alessandro Puliti to the post of chief executive to replace Francesco Caio who has resigned with immediate effect, the Italian energy services company said on Wednesday.Puliti, will also continue in his current role as general manager of the group…

Danos Nets 3-year Deal with Eni in Gulf of Mexico

Aug 31, 2022

Oilfield services company Danos has won a contract with Italian oil and gas company Eni to support brownfield repairs and routine maintenance to its Gulf of Mexico platforms. The three-year contract will utilize Danos’ fabrication, construction…

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