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Tag Archives: Schlumberger

Sewage flow becomes Williston’s oil bust indicator

WILLISTON, N.D. – The population of a U.S. oil boomtown that became a symbol of the fracking revolution is dropping fast because of the collapse in crude oil prices , according to an unusual metric: the amount of sewage produced. Williston, North Dakota, has seen its population drop about 6 percent since last summer, according to wastewater data relied upon ...

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Consumer spending bolsters U.S. second-quarter growth

WASHINGTON – U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. Gross domestic product expanded at a 2.3 percent annual rate, the Commerce Department said on Thursday. First-quarter GDP, previously reported ...

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Weatherford announces cuts to workforce

Weatherford executives on Thursday announced plans to further cut costs and lay off another 1,000 employees after shedding 10,000 workers earlier this year. The company will also close 30 more facilities this year in addition to 60 closed across North America in the first half of 2015. Weatherford officials did not specify the regions where those cuts would happen, leaving ...

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Drilling picks up in Permian Basin

Six months ago, 24-year-old Matt Soto stared at a white board and worried how long he would keep his job at Schlumberger. Soto escaped layoffs in the past six months and said things now look good from the ground floor. But industry indicators have taken a turn for the worse, bringing up renewed questions about an expected recovery. The overtime ...

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Oil field job cuts cross 150,000

Job slashing from the oil bust reached a staggering 150,000 at the end of May, according to energy recruiting firm Swift Worldwide Resources. In a recent Fuel Fix publication, Swift elaborated that when compared globally, the United States has seen the “the fastest and steepest decline.” Layoffs have slowed dramatically as oil prices have just begun to regain some footing ...

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