oilfield services
-
The shale industry could shoulder 65% of $100-billion 2020 global E&P spending cut. Can oilfield services providers afford to cut their fees further to prop up hard-hit operators? -
Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020.
-
The company said it will avoid the pumping business's “structurally disadvantaged position” and instead focus on well servicing and water logistics.
-
The company also secured $2.6 billion in exit financing facilities, including a $450-million revolving credit facility, as well as a $195-million letter of credit facility and more than $900 million of liquidity.
-
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
-
Expected to close 31 October, the deal will create one of the largest pressure pumpers in the US.
-
The two largest oilfield services firms grapple with a worsening North American land market.
-
The company, which filed for Chapter 11 protection in June, revised downward its revenue projections amid lower expectations for the US oilfield services market and oil prices.
-
Lower equipment utilization and prices have worsened the pain for oilfield service companies in Texas, New Mexico, and Louisiana, while operators continue to grapple with the industry’s shifting business climate.
-
Still recovering from the oil price downturn, oilfield service companies are facing more headwinds.
