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Tag Archives: Halliburton

Environmental groups monitor new Wyoming fracking rules

CASPER, Wyo. — As Wyoming challenges new federal fracking rules on public lands, state regulators are quietly implementing a state requirement that petroleum companies justify keeping secret the ingredients in the chemical products they pump underground during hydraulic fracturing. The state has approved six applications from companies seeking to keep their ingredients confidential under the terms of a settlement with ...

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A series of settlements in 2010 Gulf oil spill

NEW ORLEANS — A committee of lawyers representing businesses and individuals claiming damages from the 2010 Gulf of Mexico oil spill announced a $211 million settlement Wednesday with Transocean Ltd., owner of the ill-fated Deepwater Horizon drilling rig. In a separate development, oil giant BP — which leased the rig from Transocean — reached settlements resolving years of complicated spill-related ...

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U.S. energy companies slash jobs as oil prices weaken

job cuts

Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Brent prices fell to near six-year lows in January, hurt by a global supply glut and OPEC’s decision ...

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Service companies keep cutting as rigs keep falling

oil derrick

Permian Basin producers again dropped drilling rigs this week, Baker Hughes reported Friday, as service companies announced another round of job cuts. Baker Hughes counted 12 fewer rigs in the Permian Basin, leaving 246 drilling for oil and gas in the region. About 74 percent drill horizontal wells as producers focus on core areas. Nationally, the oil and gas rig ...

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Pennsylvania well permits hit a low

According to the state Department of Environmental Protection (DEP) information, the number of unconventional well permits issued for this year’s first quarter has dropped by 30 percent; the lowest it has been over the last five years. Compared to last year, the DEP issued 863 permits just in the first three months.  This year, the number of permits given out ...

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Baker Hughes expects falling rig count to weigh on 2nd qtr

Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects “unfavorable market conditions” to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services. The comments echoed larger rival Halliburton’s warning on Monday of pricing pressure hurting oilfield services in North America and challenges in international operations. ...

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Halliburton reports 1Q loss on costs tied to oil price slump

HOUSTON — Halliburton reported a $643 million loss for its first quarter, as the oilfield services provider continued to adjust to slumping energy prices that have forced layoffs and other cutbacks at companies across the sector. The Houston-based company said Monday that it booked about $823 million in after-tax charges during the quarter tied to asset write-offs, severance costs and ...

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Schlumberger impresses with cost cuts, resilient margins

Schlumberger Ltd, the world’s No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. Schlumberger shares rose as much as 3.3 percent to a near-five-month high of $94.89 on Friday, a day after the company reported a profit well ahead of analysts’ expectations despite ...

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