Distribution NOW (DNOW) Robert Workman said their international oil equipment business remains challenged “Internationally, scheduled project shipments in the UK, Holland, Iraq, Kazakhstan, and turnarounds for Chevron in China likely won’t be sufficient to offset continued declines with the offshore … Continued
National Oilwell Varco (NOV) CEO Clay Williams said their customers remained even more cautious as oil pulled back to $26 in February “In the second quarter of 2016, National Oilwell Varco did post revenues of $1.7 billion, down 21% from … Continued
Baker Hughes’ (BHI) CEO Martin Craighead on Q2 2016 Results The industry will remain in continued uncertainty until there are more foundational changes to supply and demand “looking back over the past few months, it’s clear to me that the … Continued
Anadarko Petroleum (APC) R. A. Walker on Q2 2016 Results Oil price recovery playing out as anticipated “The cautious approach we outlined for oil price recovery at the beginning of 2015 has played out much as we anticipated. It now … Continued
Schlumberger NV (SLB) Paal Kibsgaard on Q2 2016 Results We have now reached the bottom of the cycle “. In the second quarter, market condition worsened further in most parts of our global operations. But in spite of the continuing … Continued
Core Labs (CLB) CEO David Demshur said oil market supply and demand will come into balance later this year “Core believes that worldwide crude oil supply and demand markets are close to balancing and will balance the second half of … Continued
Kinder Morgan (KMI) CEO Steve Kean said their energy customers aren’t defaulting on their payments to the company even though the pricing environment remains challenging “On customer credit, we continue our extreme focus throughout our commercial and corporate organizations. In … Continued
Haliburton (HAL) CEO David Lesar said the business continued to experience pricing pressure “Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe.” But they … Continued
Halliburton’s (HAL) CEO David Lesar on Q2 2016 Results Revenue down only 9% “Our total company revenue declined only 9% sequentially compared to the 19% decline in the global rig count. Our North America revenue was down 15% from the … Continued
Mark A. McCollum Never been more differentiation between the service companies “it strikes me at this point in time there is probably more differentiation between the major service companies than there ever has been. And so, if I am an … Continued