David Wethe

Business, Fuel

Tens of Thousands Are Getting Laid Off in US Shale Patch

A derrickman secures a length of drill pipe at a rig near Montrose, Pa. A derrickman secures a length of drill pipe at a rig near Montrose, Pa. (Daniel Acker/Bloomberg News)

The spread of the coronavirus coupled with an oil-price war between Russia and Saudi Arabia threatens to devastate the oil services industry and its workers.

David Wethe | Bloomberg News
March 23, 2020

Chevron Sees ‘Boom Boom Boom’ Permian Despite Signs of Slowdown

Chevron Corporation Richard Drew/Associated Press

Chevron Corp. sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.

David Wethe | Bloomberg News
October 22, 2019

Halliburton Cuts Fracking Jobs, Gear in US, Canada

Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear.

David Wethe | Bloomberg News
July 22, 2019
Government, Business, Fuel

Oil-Services Investors Unmoved by Latest US Sanctions on Russia

Siberia Oil Field Andrey Rudakov/Bloomberg Finance

Investors of the world’s biggest oil-servicer providers are so far looking past the most punitive round of U.S. sanctions on Russia.

David Wethe | Bloomberg News
April 9, 2018

US Oil Rebound Hits Roadblock, Lack of Truckers

Daniel Acker/Bloomberg News

Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it’s keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders.

David Wethe | Bloomberg News
March 7, 2017

Schlumberger to Buy Cameron in $14.8 Billion Oil Services Deal

By Kosuke Okahara/Bloomberg News

Schlumberger Ltd., No. 10 on the Transport Topics Top 100 list of private carriers in North America, agreed to buy Cameron International Corp. for $14.8 billion, allowing the world’s largest oil field-services provider to bundle its offerings and gear more effectively.

David Wethe | Bloomberg News
August 26, 2015