We begin today a collection of insights on the current market situation from CEOs of various companies--energy and otherwise--to shed some light on where we may be headed next. First up: Words of wisdom and caution from Andrew Gould, CEO and chairman of Schlumberger, when reporting the global service company's positive third-quarter results (revenues and income higher than 3Q 07 and 2Q 08): "As we enter the fourth quarter, the recent rapid deterioration in credit markets will undoubtedly have an effect on our activity though we anticipate this will largely be limited to North America and in some emerging exploration markets overseas. The strengthening production of North American natural gas has also led a number of customers to reduce spending early. "At the present time, the rate at which the world economy will slow has become increasingly uncertain. We have always maintained that the one event that could slow the rate of increase in worldwide exploration and production spending would be a reduction in the demand for oil caused by a severe global recession. At the moment, it is still too soon to predict to what extent current events will affect overall activity in 2009, but we anticipate a slowing in the rate of increase of customer spending. "However, the weakness of the current supply base, the age of the production profile and the decrease in reserve replacement — all of which we have indicated on many occasions — are such that any significant drop in exploration and production investment would rapidly provoke an even stronger recovery. " --
DUG Haynesville: Bob Barba Sells Refracs to Extend Wells, Protect Parent Wells [WATCH]
2023-03-29 - In an exclusive interview, Bob Barba, president and CEO, Integrated Energy Services Inc., sees hesitancy around refrac-ing vintage wells, despite revitalizing older wells and even those consigned to plugging and abandonment in the Haynesville and Eagle Ford shale and, particularly, the Permian Basin.
DUG Haynesville: E&Ps Keeping Production Flat, Hedging Amid Gas Price Slump
2023-03-29 - Executives from E&Ps such as GeoSouthern Energy and New ASEAN Energy said they are adjusting drilling and hedging strategies in the Haynesville Shale after a rapid collapse in U.S. natural gas prices.
Marketed: FX Energy Group 6-Well Package
2023-03-29 - FX Energy Group LLC retained EnergyNet for a 6-well package plus 2,042.46 Net HBP leasehold acres in Hartley and Oldham Counties, TX.
Sunverge, Eaton Announce Collaboration on Home EV Charging Infrastructure
2023-03-29 - Sunverge Energy’s virtual power plant platform and Eaton’s electric vehicle charging solutions will enable utility management for home charging.
A&D Minute: International Players Take Interest in US Shale [WATCH]
2023-03-29 - Also in this week’s A&D Minute, Super Energy Services considers potential merger acquisitions and CorEnergy plans to sell two natural gas midstream systems.