AI Promises Faster Oil Drilling and More US Crude Supply
From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator.
Exxon Works to Improve Fracking Methods
Exxon Mobil Corp. is betting that a better way to frack will double the amount of oil it can pump from shale fields.
Gas Tax Holiday Would Increase Prices, Hess CEO Says
President Joe Biden’s plan to suspend the federal gasoline tax would only make things worse for U.S. drivers, one industry CEO said ahead of a meeting in Washington between oil executives and administration officials.
Oil Explorers Are Fracking at Breakneck Pace, Fueling Inflation
Shale oil companies are using almost all of the fracking equipment and crews available as exploration expands, accelerating cost inflation and pointing to worsening supply chain disruptions across the industry.
Baker Hughes Joins Halliburton in Ida-Fueled Oil Services Hit
Another disappointment to jolt the oil services sector: Baker Hughes Co. reported a third-quarter earnings stumble that included pain from Hurricane Ida and a warning of hampered growth for oil demand.
Shale Drillers Puzzle Analysts With $7.4 Billion Merger
Shale investors have been demanding more consolidation in the U.S. oil patch. But not exactly a deal like this one.
World’s Biggest Fracker Halliburton Sees Signs of Rebirth as Slump Ebbs
Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers.
Shale Loses Another Global Giant After Schlumberger’s Frack Sale
Schlumberger has become the biggest oil service industry player yet to abandon frack work in North America, a sign that activity in the U.S. shale patch may never revisit previous highs.
Schlumberger Shrinks Staff to Lowest Since Pre-Shale Era
Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.
Baker Hughes Bracing for Second Wave of COVID-19 Lockdowns
Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded a historic oil bust.