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
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
