Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-12-03 21:20:00

SCHLUMBERGER CUTS FLEET

SCHLUMBERGER CUTS FLEET

Schlumberger , the world's largest oil services group, is cutting back its fleet for offshore geological surveys and taking an $800m writedown on the value of its ships, in the first significant cutback in the industry following the recent fall in crude prices.

The company also said it was cutting jobs, without giving a number, in response to lower oil prices and expected slower growth in oil exploration and production company spending.

Patrick Schorn , Schlumberger's president of operations and integration, said on Tuesday that the drop in the oil price had brought "a severe reduction in visibility in the short term".

He told a conference in New York that while Schlumberger had not yet seen any specific changes to customer spending plans, "it is already clear that we can expect to see much stronger customer capital discipline and focus on cost".

The company said in a regulatory filing that it was cutting back its offshore seismic survey fleet "due to expectations of lower exploration spending" by the oil and gas companies that are its customers.

WesternGeco , Schlumberger's UK-based marine seismic business, will cut its fleet from 23 vessels at the end of last year to 15 at the end of 2014, through retiring some of the older and higher-cost boats and converting others.

It is taking an $800m charge, mostly non-cash, for writing down the value of the fleet's assets, principally the six vessels that it acquired with the 2007 deal for Eastern Echo.

It is also taking a $200m charge in the fourth quarter for the planned job cuts.

The oil services sector has been a focus of investors' concerns about the impact of falling oil prices, with companies facing a double blow from reduced activity and lower prices for their services.

As the oil price has fallen more than 30 per cent over the past three months, Schlumberger shares have fallen 21 per cent. Its rival Halliburton 's shares have fallen 40 per cent, while Baker Hughes , which Halliburton has agreed to buy in a $31bn cash and shares deal, has fallen 17 per cent.

The offshore oil industry, which uses seismic surveys to look for reserves, is among the higher-cost sources of production, and has been identified by analysts as one of the areas that will be more vulnerable to cutbacks in investment if oil prices remain weak.

In his presentation on Tuesday, Mr Schorn also highlighted the risk to the smaller and midsized companies that have led the shale oil revolution in North America, saying the outlook for activity and service prices would become more uncertain "due to the increasingly negative free cash flow of a number of E & P [exploration and production] companies."

He said: "With oil now at the $70 per barrel level . . . it is even clearer than it was nine months ago that we will have to work in a different way to deliver financial outperformance for ourselves and for our customers."

ft.com

Tags: SCHLUMBERGER, OIL, PRICES, HALLIBURTON, BAKER, HUGHES

Chronicle:

SCHLUMBERGER CUTS FLEET
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

SCHLUMBERGER CUTS FLEET
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

SCHLUMBERGER CUTS FLEET
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

SCHLUMBERGER CUTS FLEET
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

All Publications »