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Tag Archives: Schlumberger

Energy sector movers, losers and news: crude prices improve, no production freeze necessary.

Last week major oil producers met in Doha, Qatar to discuss an oil production freeze. Again, no agreement could be reached and crude prices temporarily suffered. But, today WTI opened at $43.42 per barrel, 7.6 percent higher than last week when it closed Friday at $40.36 per barrel. Market Movers Shares of NGL Energy Partners LP (NYSE: NGL) gained 50 ...

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Schlumberger cuts more jobs in first quarter

Schlumberger cuts more jobs in first quarter

Schlumberger slashed another 2,000 jobs in the first quarter as the energy industry navigates turbulent market conditions. The company’s global workforce now numbers about 93,000, according to Schlumberger spokesman Joao Felix. “The decline in global activity and the rate of activity disruption reached unprecedented levels as the industry displayed clear signs of operating in a full-scale cash crisis,” Chairman and ...

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Federal suit to stop Halliburton, Baker Hughes deal

Federal suit to stop Halliburton, Baker Hughes deal

WASHINGTON (AP) — The Justice Department on Wednesday sued to stop Halliburton Co. from acquiring oilfield services rival Baker Hughes Inc., saying the deal would harm consumers and eliminate head-to-head competition. The proposed transaction, valued at nearly $35 billion, would combine two of the world’s three leading providers of those services to oil and gas companies and create a bigger ...

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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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Texas consultant integrates fraccing with wireline logging

Bob Barba knows how to get the most value from bringing logs and fracs together. The principal consultant with Integrated Energy Services spent the first 10 years of his career with Schlumberger as an openhole field engineer, sales engineer, and product development manager. While at Schlumberger, he was the North American product champion for the FracHite and Quantifrac products that ...

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New technology reduces damage to fracking pumps

Finding a solution to reduce maintenance costs at hydraulic fracturing sites paid off for Energy Recovery Inc. The California-based company developed a new hydraulic fracturing manifold system and recently entered into an exclusive 15-year, $125 million deal with Schlumberger, the world’s largest oilfield services provider. The VorTeq hydraulic pumping system is the first product engineered to increase runtime and reduce ...

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