The commodity price rise is driving a big swing in oilfield services profit
Bullish outlook for US oilfield services
Quarterly financial results have rebounded and prospects look even better heading into next year
The oilfield services sector is riding the coattails of global economic recovery and is poised for a bigger payout in 2022. Booming commodity prices are motivating operators to lift production, while the widening supply gap is further encouraging eager drillers. US oilfield services giants Halliburton, Schlumberger and Baker Hughes all posted significant profit swings in Q3 as activity rebounded. Listed domestic shale players may still be guiding conservative production growth and restrained capex, but private US operators and the international segment are rapidly moving through the gears to deliver more supply to the market and exploit climbing energy prices. “Private companies now operate
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
