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
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18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
