Schlumberger Shrinks Staff to Lowest Since Pre-Shale Era
Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.
July 24, 2020Baker Hughes Bracing for Second Wave of COVID-19 Lockdowns
Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded a historic oil bust.
July 22, 2020Halliburton Rises on ‘Outstanding’ Cuts After Frack Slump
Halliburton Co. impressed investors by slashing costs more than expected as the fracking behemoth works its way through an historic shale bust. The shares surged more than 8%.
July 20, 2020Tens of Thousands Are Getting Laid Off in US Shale Patch
The spread of the coronavirus coupled with an oil-price war between Russia and Saudi Arabia threatens to devastate the oil services industry and its workers.
March 23, 2020Chevron Sees ‘Boom Boom Boom’ Permian Despite Signs of Slowdown
Chevron Corp. sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.
October 22, 2019Halliburton Cuts Fracking Jobs, Gear in US, Canada
Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear.
July 22, 2019Oil-Services Investors Unmoved by Latest US Sanctions on Russia
Investors of the world’s biggest oil-servicer providers are so far looking past the most punitive round of U.S. sanctions on Russia.
April 9, 2018US Oil Rebound Hits Roadblock, Lack of Truckers
Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it’s keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders.
March 7, 2017Schlumberger to Buy Cameron in $14.8 Billion Oil Services Deal
Schlumberger Ltd., No. 10 on the Transport Topics Top 100 list of private carriers in North America, agreed to buy Cameron International Corp. for $14.8 billion, allowing the world’s largest oil field-services provider to bundle its offerings and gear more effectively.
August 26, 2015