Halliburton

A comeback in offshore and international exploration and production is making up for the North American slowdown, but it is a difficult transition.

Kuwait Oil Co. signed a $597-million offshore drilling services contract with Halliburton for six high-pressure/high-temperature exploration wells on two jackup rigs in the Arabian Gulf.

New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.

The three largest service companies are optimistic about the rest of 2019.

Halliburton broke ground in Saudi Arabia for the first oilfield chemical manufacturing reaction plant in the Kingdom.

The two biggest oilfield services providers are enjoying a rebound in international activity but continue to struggle with a softening US shale completions market. While takeaway constraints will be temporary, steep shale production declines may emerge as a longer-term challenge.

The pressure pumping giant turns to algorithms to get better fractures and fewer problems.

Seeking out, experimenting with, and ultimately embracing technologies from other industries have proven crucial to innovating at oilfield service firms such as Halliburton, which has tried everything from dog food to submarine tech to improve its work downhole.

Saudi Aramco is tapping Halliburton’s expertise in developing unconventional resources to increase domestic gas production, a pillar of its long-term strategy.

Higher oil prices and higher-intensity completions are increasing the need for US onshore pressure pumping horsepower. Will still recovering pressure pumpers and equipment manufacturers be able to step up?