Schlumberger Ltd., New York, (NYSE: SLB) has acquired a minority share in Canadian-based completions company Packers Plus Energy Services. Schlumberger has also acquired exclusive rights to deploy and market Packers Plus technology worldwide, excluding North America. "With the push to increase production from maturing fields, the market for our multistage fracturing and stimulation services is expanding rapidly," says Mark Corrigan, president, well services, Schlumberger. "The Packers Plus technology will enable Schlumberger to tailor stage treatment designs to yield better production results for our customers while also making significant improvements to operational efficiencies." As a result of this agreement, Schlumberger is introducing two new services to enable efficient stimulation of multiple zones in deviated and horizontal wells.
Recommended Reading
Ohio Utica’s Ascent Resources Credit Rep Rises on Production, Cash Flow
2024-04-23 - Ascent Resources received a positive outlook from Fitch Ratings as the company has grown into Ohio’s No. 1 gas and No. 2 Utica oil producer, according to state data.
Deepwater Roundup 2024: Offshore Africa
2024-04-02 - Offshore Africa, new projects are progressing, with a number of high-reserve offshore developments being planned in countries not typically known for deepwater activity, such as Phase 2 of the Baleine project on the Ivory Coast.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.
Pemex Reports Lower 2Q Production, Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.