Schlumberger Nv News

(Photo: Aker Solutions)

Aker Solutions Raises 2019 Forecasts

is forecast to increase by up to 5 percent in 2019 and accelerate to 5-15 percent in 2020 according to industry estimates," CEO Luis Araujo said.Rival Halliburton this month said that it expects global offshore spending to rise 14 percent in 2019, double the estimates given by sector leader Schlumberger NV.Aker still faces fierce competition as industry overcapacity looms after years of restraint by oil companies after the 2014-16 oil price crash, with pricing for subsea equipment still under pressure."We expect markets to remain competitive in certain segments. But we still see prices improving

Boosting technology from Schlumberger's OneSubsea (File image: Schlumberger)

Schlumberger Sees International Growth in 2019

Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices many producers were evaluating spending budgets for 2019, stoking concerns that a slowdown in activity would hurt oilfield service companies that have struggled to boost prices since the 2014 downturn.Schlumberger, a bellwether for the oilfield services sector, said recent volatility in crude prices has led to more uncertainty in the spending outlook for oil and gas

Schlumberger CFO Ayat to Retire Soon

Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm, three people familiar with the matter told Reuters.Stephane Biguet, currently vice president of finance, is the frontrunner to replace Ayat, according to the people who declined to be named because the matter is not yet public.Schlumberger declined to comment.The CFO change would come as rising oil prices and dwindling producer reserves are helping lift demand for oil services, which were hit hard by the 2014 oil

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Schlumberger Wins in US Supreme Court on Patent Damages

The U.S. Supreme Court ruled on Friday that companies can recover profits lost because of the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.The 7-2 decision overturned a lower court's ruling that had enforced limits on applying U.S. patent law overseas and reduced by $93.4 million the damages sum that rival ION Geophysical Corp had to pay for infringing Schlumberger technology that helps find oil and gas beneath the ocean floor. Both companies are based in Houston.The decision expands the ability of patent

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Schlumberger Fights to Boost Patent Damages at US Supreme Court

The U.S. Supreme Court on Monday appeared divided over whether to make it easier for companies to recoup profits lost due to the unauthorized use of their patented technology overseas in a dispute involving Schlumberger NV, the world's largest oilfield services provider.The nine justices heard about an hour of arguments that will resolve the amount of money that rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. Both companies are based in Houston.Some justices, including conservative Justice Neil Gorsuch and

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US Supreme Court to Hear Schlumberger Fight over Patent Damages

The U.S. Supreme Court on Friday agreed to review a bid by Schlumberger NV, the world's largest oilfield services provider, to allow companies to recoup profits lost due to patent infringement when patented technology is used overseas.   The case involves a fight over how much rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. The justices will hear Schlumberger's appeal of a lower court ruling that barred it from recovering more than $93 million stemming from foreign contracts the company said it lost as a

(File photo: Hess)

New Offshore Oil Investments Needed to Avoid Shortages -Hess

, those costs are declining as the industry gains greater efficiencies, Hill said.   There is the potential for deepwater drilling costs to shrink by as much as half from new technologies such as those that anticipate mechanical failures, said Jean-Francois Poupeau, executive vice president at Schlumberger NV, the world's biggest oilfield services firm by revenue, who also spoke at the conference. (Reporting by Rod Nickel in Houston; editing by Gary McWilliams and David Gregorio

Photo: Eurasia Drilling Company

Schlumberger to Acquire Majority Stake in Eurasia Drilling

 Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV.   The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval.   The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added.   EDC is an onshore and offshore drilling and well services contractor. EDC owns and operates one of the

Schlumberger expects reactivation costs to squeeze margins

Schlumberger NV warned on Friday that margins would remain under pressure as the oilfield services provider spends more to bring back idled equipment to meet rising demand from North American shale producers after a two-year lull.   Shares of the company, whose quarterly profit nearly halved due to a jump in costs, fell as much as 4.4 percent to $73.18, their lowest in nearly a year.   Oilfield service providers, including Schlumberger's rival Halliburton Co, are reviving equipment they stacked during the downturn in oil prices.   But bringing most oilfield fleets online comes at

Photo: GE

GE to Merge Oil & Gas Unit with Baker Hughes

world leaders in horizontal drilling, chemicals used to frack and other services key to oil production.   The new company will vault Baker Hughes's market share ahead of rival Halliburton Co, which tried and failed to buy Baker until the deal collapsed last May, and also compete heavily with Schlumberger NV, the world's largest oilfield service provider, for customers.   Simonelli called Baker CEO Martin Craighead after the Halliburton deal collapsed, seeking some kind of business combination, with negotiations evolving over time to Monday's announcement.   "Neither Lorenzo (Simonelli

Photo: Hess

Hess Seeks $30-40 Mln from Schlumberger in Well Valve Dispute

Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for as much as $40 million, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped production.   Hess took the unusual step of announcing the move on its quarterly earnings conference call, publicly mentioning Schlumberger and decrying the quality of service and parts provided.   Oil producers such as Hess have been battling with Schlumberger and other oilfield service providers over price and other financial matters at a

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