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(Reuters) - Top oilfield services provider SLB joined rivals on Friday in warning of lower spending by oil producers and tariff impacts, after missing its first-quarter profit estimates due to a significant reduction in drilling activity in Mexico. Shares of the company were largely flat after declining as much as 2% in premarket trading. SLB's report... Continue Reading →
Rhino Resources, the operator of the petroleum exploration license (PEL85), and its partners have found oil in the Capricornus 1-X well in Orange Basin, offshore Namibia. The Capricornus 1-X well, spudded on February 17, using Noble Corporation’s Noble Venturer drillship, reached total depth on April 2, successfully penetrating the Lower Cretaceous target. The well found... Continue Reading →
(offshore-energy.biz) U.S. subsea engineering and applied technology firm Oceaneering International has achieved a revenue of $675 million in the first quarter of 2025, a 13% increase year over year, outperforming expectations due to “resilient utilization of remotely operated vehicles (ROVs) and strong vessel activity”. For Q1 2025, Oceaneering reported an operating income of $73.5 million, a... Continue Reading →
(Reuters) Dutch geological data specialist Fugro it would cut more jobs and shift focus to different business segments after confirming a drop in first-quarter revenue on Thursday, hit by a pause in new U.S. offshore wind projects. The company also cited a highly volatile global market environment. Sales fell 11.1% to 450 million euros ($510.12... Continue Reading →
(Reuters) - Italian energy contractor Saipem said on Wednesday its first-quarter core earnings jumped 31% year on year driven by the group's offshore engineering and construction activities. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 351 million euros ($398.00 million), beating an analyst consensus of 339 million euros compiled by LSEG. The... Continue Reading →
(Reuters) - U.S. oilfield service provider Baker Hughes on Wednesday forecast steeper drops in spending by global oil producers as tariffs dent demand expectations and push down prices for crude. Baker Hughes echoed rival Halliburton's concerns on Tuesday, that weak oil prices could push down oilfield activity in North America. Houston-based Baker Hughes, which reported better-than-expected first-quarter profit on Tuesday,... Continue Reading →
(offshore-energy.biz) Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has shared its fleet activity for March. According to Prosafe, its fleet utilization rate for March 2025 was 52%, representing a slight decrease from the 57% rate reported for February. Safe Zephyrus was the busiest, operating at full capacity during March, achieving 100% commercial uptime. The... Continue Reading →
(Reuters) - GE Vernova reported first-quarter revenue on Wednesday that beat Wall Street estimates on the back of strong performance at its power and electrification units, sending its shares up more than 8% in premarket trading. The results come at a time when the power industry is bracing for the impact of the Trump administration's sweeping tariffs and policies,... Continue Reading →
(offshore-energy.biz) U.S. offshore drilling contractor Noble Corporation has awarded Atlas Professionals with a crew management contract for its upcoming drilling campaign in Suriname. Under the deal, Atlas is slated to provide junior and expatriate crew for a drilling campaign to be carried out using the Noble Developer rig. Additionally, the firm will provide comprehensive logistics, training, and... Continue Reading →
(Reuters) - Halliburton reported lower first-quarter profit on Tuesday, as a slowdown in North American drilling activity weighed on demand and the oilfield services provider recorded a $356 million pre-tax charge. The company's shares fell 4% in premarket trading following the results. Halliburton is the first of the Big Three U.S. oilfield services provider to report earnings as... Continue Reading →
Brazil Energy Insight 