Oilfield service provider Halliburton Co said on Monday it expects international offshore spending to rise 14 percent in 2019, double the estimates given by sector leader Schlumberger NV for international markets overall.Schlumberger said last…
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1…
U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January.Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General…
U.S. energy firms added oil rigs for a fourth time in the last five, keeping the rig count at its highest in over three years even though crude futures were on track to fall for a fifth week in a row to their lowest level since February.Drillers added 12 oil rigs in the week to Nov…
The Gulf of Mexico’s offshore oil industry appears to be climbing out of the latest downturn.Based on rig counts, well numbers, permitting data and information about sanctioned and expected projects, IHS Markit’s Bob Fryklund, vice president for upstream energy…
Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal…
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them…
U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks.Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015…
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs.Drillers added five oil rigs in the week to April 27…
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices near three-year highs.Drillers added five oil rigs in the week to April 20, bringing the total count to 820…
Recent rig count data suggests that there are no big moves over or under for offshore rig counts from February through end of March 2017. Baker Hughes released its latest US rig count numbers on Friday, 31 March, showing an increase of four units over week ago…
The global offshore rig count for May 2016 has fallen 20%, when compared to May 2015, with Latin America seeing the biggest drop by 57%. Image from Saudi Aramco. According to Houston-based Baker Hughes…
Halliburton has cut more than 6000 positions during Q1 2016, bringing its workforce down by one-third since late-2014, in addition to a decreased revenue of 40% during the period. Image from Halliburton…
Offshore rig count for March 2016 declined 33.4% when compared to March 2015, and 5% compared to February 2016. Image from Baker Hughes Twitter. According to Baker Hughes, there were a total of 241 vessels operating last month…
Global offshore rig utilization dropped from 87% to 73% across 2015, to the lowest levels in 30 years, according to Clarksons Research. Global Jackup working utilization declined from 86% to 70%, down from a high of 95% in 2013, while…
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