oilfield services

From the highest courts of the US judicial branch to the C-suite, contests involving patents have recently come to the fore in the innovation hungry US oilfield services industry, even as filings and litigation have declined in recent years.

How will a US steel tariff affect the oil and gas supply chain? Industry criticism points to a noticeable effect on construction expenditure and jobs, but where will the pain be most felt?

Kreuz Subsea mobilized the Kreuz Challenger, a diving support vessel, as part of its 7-year contract with Brunei Shell Petroleum Company. The contract runs until 2022 and includes inspection, repair, and maintenance services to be carried out on offshore oil and gas structures.

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.