oilfield services

Oil prices have recovered somewhat and operators are making money again. So why haven’t the service companies been invited to the party?

A rise in oil prices close to 3-year highs should further stimulate a recovering oilfield services and equipment sector, despite lower than expected late-2017 activity in US shale.

Full-year 2017 and fourth-quarter financial results show an improving picture for the industry’s three largest oilfield services companies. After 3-plus years of cutbacks, the service sector outlook has turned relatively positive.

Leaner business approaches have led to guarded optimism in the industry. While no bonanza is yet being trumpeted, the road to recovery appears to be smoothing out for the operators. But what about the oilfield services companies? How are they faring?

Second-quarter financial results show a modest improvement for the industry’s three largest oilfield services companies.

The recent upswing in M&As in the oilfield services sector may be a harbinger of more to come as operators push for capex and opex control.

Schlumberger and Baker Hughes leaders said increased investments are critical to ensuring technological advancements for the industry.

Douglas-Westwood’s quarterly World Oilfield Services Market Forecast and World Oilfield Equipment Market Forecast continue to suggest that 2016 marks the start of a barren period for the global oilfield services and oilfield equipment sectors, with onshore looking more positive than offshore.

Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies?