Canadian Shales

Canadian Shales Exclusives

Schlumberger, oil, reserves, exploration, spending, Paal Kibsgaard

The head of the world’s largest oilfield service company says the world could face a medium-term supply deficit given today’s reserves depletion rate and falling exploration spending.

Schlumberger, drilling, oilfield services, U.S., North America, Kibsgaard, technology, costs, Gulf of Mexico, Latin America

North America revenue grew by 6% to $1.9 billion, while international revenue dropped by 7% to about $4.9 billion compared with the previous quarter.

Crude Oil Gas Outlook The New Bullish

For crude prices to average $50 to $52 in 2017, OPEC must extend quotas and maintain compliance, and demand must increase, according to a report.