Shale investors have been demanding more consolidation in the U.S. oil patch. But not exactly a deal like this one.
Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers.
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 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 Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded an historic oil bust.