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Tag Archives: Schlumberger

Top 5 Bakken stories of the week

In case you missed them, here are the top five stories from Bakken.com for the week of October 18th through the 24th. Enjoy! 5. Bakken water supply: Program allowing irrigation water for fracking ends Infrastructure in western North Dakota is finally catching up with demand, evident in the state engineer’s office discontinuation of a program which allowed farmers to sell ...

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New technology reduces damage to fracking pumps

Finding a solution to reduce maintenance costs at hydraulic fracturing sites paid off for Energy Recovery Inc. The California-based company developed a new hydraulic fracturing manifold system and recently entered into an exclusive 15-year, $125 million deal with Schlumberger, the world’s largest oilfield services provider. The VorTeq hydraulic pumping system is the first product engineered to increase runtime and reduce ...

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Schlumberger inks 15-year deal for exclusive use of new fracking tech

Schlumberger (NYSE:SLB), the world’s largest oilfield services provider, has entered into a deal with Energy Recovery Inc. (NASDAQ:ERII), initially valued at $125 million, for the exclusive rights to use the first hydraulic fracturing manifold system designed to isolate fracking pumps from abrasive proppants that can cause pump failure. Energy Recovery Inc. manufactures energy recovery devices for the oil and gas ...

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Schlumberger to cut more jobs, sees recovery pushed to 2017

Schlumberger Ltd, the world’s No.1 oilfield services provider, said it would cut more jobs and consolidate its manufacturing and distribution network as it did not expect a recovery in demand before 2017. The company’s shares fell as much as 4.6 percent to $72.63 in late-morning trading. Rivals Halliburton Inc and Baker Hughes Inc were also down about 4 percent. “The ...

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Hundreds more job cuts announced in Texas

Texas can expect yet another wave of job cuts throughout the oil and gas sector as numerous firms have announced a combined 700 employee reduction in the upcoming months. Recently, ConocoPhillips announced a 10 percent reduction in its total labor force. According to a report from Fuel Fix, this equates to more than 500 positions in the Houston area, at ...

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Drop in Canadian dollar affects Montana retail

KALISPELL, Mont. — Fewer license plates from Canada are showing up in northern Montana as the Canadian dollar continues to weaken and make shopping trips to the U.S. more expensive. As of Aug. 31, the U.S. dollar was worth $1.32 in Canadian currency, the strongest the U.S. dollar has been in at least five years. The Canadian dollar is tied ...

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ConocoPhillips plans to cut 10 percent of its workforce

NEW YORK — Energy company ConocoPhillips, which has already cut 1,000 jobs this year, says it will eliminate around 1,810 more positions following a plunge that took oil prices to their lowest levels in years. The company said Tuesday it is eliminating 10 percent of its workforce. The biggest proportion of the job cuts will be in North America. ConocoPhillips ...

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Schlumberger acquires Houston-based equipment company

The merger of two oil and gas companies, one with a Victoria office, will create the industry’s first drilling and production system, according to officials. Schlumberger Limited, a technology and project management company, announced Wednesday it would acquire Houston-based equipment provider Cameron. The transaction was valued at $14.8 billion, according to a news release from Cameron. The company hopes to ...

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