Bullish outlook for US oilfield services
Quarterly financial results have rebounded and prospects look even better heading into next year
The oilfield services sector is riding the coattails of global economic recovery and is poised for a bigger payout in 2022. Booming commodity prices are motivating operators to lift production, while the widening supply gap is further encouraging eager drillers. US oilfield services giants Halliburton, Schlumberger and Baker Hughes all posted significant profit swings in Q3 as activity rebounded. Listed domestic shale players may still be guiding conservative production growth and restrained capex, but private US operators and the international segment are rapidly moving through the gears to deliver more supply to the market and exploit climbing energy prices. “Private companies now operate
Also in this section
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources
26 March 2024
Strategic stocks have become as much a market management tool as a security of supply buffer, and this new tactic is likely to continue beyond the next election
25 March 2024
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030
22 March 2024
And the outlook for the country’s upstream appears to have improved following legal setbacks in 2023