- Tight Gas & Oil
- Gas Hydrates
Technology advances and shifts in the socioeconomic climate present challenges to business leaders.
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.
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.
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.
Cash proceeds will be used to reduce company debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion.
The JV, called OneStim, will rival Halliburton’s frack fleet in the U.S. and Canada and further shrinks the pressure pumping marketplace to the detriment of smaller companies, an analyst said.
Sand costs are rising and many sand companies, such as U.S. Silica, are seeing supplies sold out as proppant loading increases.
TransCanada received approval for the 1,179-mile cross-border pipeline application by the U.S. State Department, ending a years-long battle.
Mammoth also purchased Stingray’s water and cementing businesses from Gulfport Energy and other companies.
The Canadian Prime Minister also said the Trans Mountain, Keystone XL and Line 3 pipeline projects will ensure North American energy security for years to come.
The company continues to move its operations into the Lower 48 by selling its Canadian subsidiary.
Without the U.S. shale revolution, the global economy would’ve faced a ‘deep crisis,’ said OPEC Secretary General Mohammad Barkindo.