Wednesday, June 3, 2020

Halliburton Co News

'This could be the one that gets me,' Says Oilfield Service Veteran

Image by kichigin19  - AdobeStock

Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.A third-generation employee, Harris rose through the ranks at the top shale-oil services provider to oversee oilfield crews.

US Crude Futures Plunge to Lowest on Record

© Grispb / Adobe Stock

U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark…

Saudi Aramco Launches Largest Shale Gas Development Outside US

Amin H. Nasser (Photo: Saudi Aramco)

Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.The…

US Extends License for Chevron's Operations in Venezuela

© Andrei / Adobe Stock

The U.S. Treasury Department on Saturday renewed a license allowing Chevron, the last U.S. energy company operating in Venezuela, to continue working in the country until April 22.In January, the United States imposed sanctions on Venezuela's…

Oilfield Services Giants Start Year with Asset Sales

Illustration - Image by pichitstocker - Adobe Stock

Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand.Oilfield service providers…

Hunting Warns on Profit

(Photo: Hunting Plc)

British oilfield services firm Hunting Plc warned on Tuesday that annual core profit would be at the lower end of market expectations as it grapples with a slowdown in the U.S. onshore drilling market, sending its shares down as much as 7%.Without giving numbers…

US Gives Chevron More Time in Venezuela

© Phaitoon Sutunyawatchai / Adobe Stock

The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.The license has been a subject of…

Halliburton Promises Cost Cuts

© V.Kreinacke / Adobe Stock

Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider…

ProPetro Cuts Almost 150 Workers

AdobeStock / © Diter

ProPetro Holding Corp this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.The job cuts reflect slowing shale activity due to weak prices for oil and gas…

Baker Hughes: U.S. Oil Drillers Cut Rigs Again

file Image: credit AdobeStock / © Diter

U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept.

Halliburton Profit Beats Estimates

(Photo: Halliburton)

Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its Completions and Production unit outperformed expectations, pushing its shares up 6.8 percent in early trading.The Houston, Texas-based company is a leading…

Oilfield Services Firms Keane, C&J Merge

© Michael Potts / Adobe Stock

Oilfield services company Keane Group Inc said on Monday it will merge with rival C&J Energy Services in a $745.7 million all-stock deal, as it looks for scale amid spending cuts by crude producers.The oil service sector has been battling lower demand and pricing pressure as U.S.

Baker Hughes Profits from Foreign Focus

© xmentoys / Adobe Stock

Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent.Oilfield service companies…

Halliburton Reports Activity Uptick

(Photo: Halliburton)

Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services…

Schlumberger Names Olivier Le Peuch as COO

Olivier Le Peuch (Photo: Schlumberger)

Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as the…

Schlumberger Names Le Peuch as Chief Operating Officer

Olivier Le Peuch (Photo: Schlumberger)

Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as the…

Baker Hughes Adjusted Profit Surges 85%

© think4photop / Adobe Stock

Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has…

Halliburton Profit Beats on International Demand

(Photo: Halliburton)

Halliburton Co beat Wall Street estimates for quarterly profit on Tuesday, as higher demand for its oilfield services in international markets offset a slowdown in North America.Clients in North America, Halliburton's biggest market by revenue…

Baker Hughes Predicts Oil Market Growth, Misses on Profit

© Lukasz Z / Adobe Stock

Baker Hughes, General Electric Co's oilfield services arm, fell just short of estimates for profit in the third quarter while forecasting a rise in North American and foreign markets in 2019 that ran contrary to signals from its peers.The…

Halliburton Sees Lower Fourth-Quarter Profit

Halliburton Co on Monday forecast lower per share profit for the fourth quarter due to pipeline bottlenecks and lower spending by customers in North America.The oilfield services provider expects fourth-quarter profit to be in the range of 37 to 40 cents per share…