What Is An Oilfield Service Company – The oilfield services sector is considered a key partner for oil exploration and production companies. They provide onshore and offshore oil well maintenance, completion, production, supply and logistics support services. The general oilfield services market comprises oilfield services, companies that manufacture, repair and maintain equipment used to extract and transport oil.
The oilfield services market is projected to reach USD 171.7 billion in 2025 from USD 138.9 billion in 2019, growing at a CAGR of 3.6%.
What Is An Oilfield Service Company
Founded in 1926 and headquartered in Houston, Texas; Schlumberger Limited provides a comprehensive range of technology, products and services to the oil and gas industry. The company operates through four business segments, namely Reservoir Characterization, Drilling, Production and Cameron. Its reservoir characterization segment provides services for western geco, wireline services, testing services, one surface, software integrated solution and integrated service management. Also, its drilling segment offers drill bits and tools, M-I SWACO, drilling and measuring, rings and integrated drilling services. In addition, the company’s production segment offers services for wells, one stim, completions, artificial lifts, integrated production services, as well as a production segment involved in pressure and flow control for drilling and intervention rings, oil and gas wells and production facilities.
Coral Oilfield Services
With operational facilities in more than 85 countries, the company is geographically present in North America, Europe, the Middle East and Africa, Latin America and Asia-Pacific.
Founded in 1987 and headquartered in Texas, USA; Baker Hughes GE provides integrated petroleum products, services and digital solutions. The company operates through four business segments, namely oilfield services, oilfield equipment, turbomachinery and processing solutions, and digital solutions. The company’s oilfield services provide products and services for onshore and offshore operations throughout the life cycle of a well, ranging from drilling, appraisal, completion, production and intervention. Also, its oilfield equipment segment provides a broad portfolio of products and services for the design and manufacture of onshore and offshore drilling and production systems and equipment for floating production platforms.
With operations in more than 120 countries, the company has a geographic presence in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Founded in 1919 and headquartered in Texas, USA; Halliburton provides a wide range of services and products to oil and natural gas companies. The company operates through two business segments: Completion and Production and Drilling and Evaluation. The company’s Completion and Manufacturing segment offers production improvement services. In addition, its Drilling and Evaluation segment provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment and waste management services; and drilling systems and services.
Halliburton Tops Earnings Estimates, Forecasts Stronger Demand
With two corporate offices in the US and the United Arab Emirates and 140 nationalities in more than 80 countries, the company has a geographic presence in North America, Europe, Latin America, Asia Pacific and the Middle East and Africa.
Founded in 1941 and headquartered in Houston, USA; Weatherford International, PLC provides oil and natural gas drilling, evaluation, completion, production and intervention equipment and services. The company offers drilling equipment and tools; Pipeline handling, management and connection services; equipment rental services; and onshore contract drilling and related services through a fleet of onshore drilling and workover rigs. It also offers directional drilling and logging and measurement services during drilling; Services related to rotary control systems, high temperature and high pressure sensors, drill reamers and circulation transducers; controlled pressure drilling, conventional mud logging and drilling instrumentation.
With operations in more than 90 countries, the company is geographically present in North America, Europe, Latin America and Asia-Pacific.
Founded in 2005 and headquartered in Dongcheng District, China; China Oilfield Services Limited (COSL) provides integrated offshore oilfield services. The company operates through four business segments, namely drilling services, well services, maritime support services, and geophysical and surveying services. The company offers onshore and offshore drilling services, including logging; drilling and completion fluids; directional drilling; cementation; completion and repair of wells; stimulation; and others.
Reliance Oilfield Services
Founded in 1992 and headquartered in Fort Worth, Texas; Basic Energy Services provides services to oil and natural gas drilling and production companies. The company operates through six business segments, namely well servicing, water logistics, pumping services, rental/fishing tools, contract drilling and tubulars. The company’s water logistics segment offers services of specialized tank trucks, storage tanks, pipelines, wells, disposal facilities, water treatment and construction and other related equipment. Also, the company’s water supply segment offers well services and related equipment, and the contract drilling segment offers drill services and related equipment.
Meticulous research in its latest publication on the oilfield services market has predicted a growth of 3.6% during the forecast year 2019-2025.
Founded in 1991 and headquartered in Houston, USA; Superior Energy Services, Inc. deals with the provision of oil field services and equipment to oil and natural gas exploration and production companies. The company operates through four business segments, namely drilling products and services, onshore completion and workover services, production services and technical solutions. The Company’s pressure pumping service offerings include hydraulic fracturing and high pressure pumping services used to complete and stimulate production in new oil and gas wells; fluid management services used to obtain, move, store and dispose of fluids involved in the exploration, development and production of oil and gas; and workover services consisting of well installations, completions and laterals, as well as support for drilling operations.
The company is geographically present in North America, Europe, Asia Pacific, Latin America and the Middle East and Africa through a network of subsidiaries and partners.
Oilfield Services Are Flexing Their Muscles
Founded in 1958 and headquartered in Houston, Texas; FMC Technologies, Inc. provides subsea systems, technologies and services for the oil and gas industry. The company operates through three business segments, namely subsea, land/offshore and surface technologies. The company’s subsea segment provides integrated design, engineering, procurement, fabrication, production and installation, and life-cycle field services for subsea oil and gas fields. Moreover, its Surface Technologies segment offers wellhead systems for standard and custom applications.
With three headquarters in London, Houston and Paris, the company has a geographical presence in North America, Europe, the Middle East and Africa, Latin America and Asia-Pacific.
Founded in 1994 and headquartered in Allerød, Denmark; Welltec develops and offers well technologies and solutions for the oil and gas industry. The company offers various solutions and services such as transportation solutions, mechanical services, cleaning solutions, grinding solutions, finishing solutions, RLWI solutions, diagnostics and fishing services.
The company is geographically present in North America, Europe, the Middle East and Africa, Asia-Pacific and Latin America.
Diversified Oilfield Services Is A Fitting Name
Founded in 1871 and headquartered in Glasgow, U.K.; Weir Oil and Gas designs, manufactures and services highly engineered solutions for clients worldwide. The company operates through three business segments, namely mining, oil and gas, and flow control. Its oil and gas segment offers products and services for the drilling, completion, production and pipeline transportation sectors. In addition, the flow control segment offers services to power generation, industry and the oil and gas sector, as well as the design and manufacture of valves and pumps.
The company is geographically present throughout North America, Europe, Asia and the Pacific, Latin America and the Middle East and Africa.
In the midst of this crisis, Mythicous Research® continuously assesses the impact of the COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on the industry here with a sample PDF
Need more information? A new report from Mythicous Research® covers each of these companies in much more detail, providing analysis on the following:
Pdf] Modelling Oilfield Service Companies’ Strategic Development: The Matrix
The comprehensive report provides global market size estimates, market share analysis, revenue figures, and coverage of key issues and trends.
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Total returns to shareholders looked positive, but were driven by general growth in financial markets. The OFES industry underperformed the S&P 500, but still saw value growth.
Going forward, the drop in oil prices associated with the COVID-19 crisis could be a tipping point for an industry that until recently was on life support with the generous help of capital markets. With more than half of the industry financially very vulnerable in the current environment, significant industry restructuring is likely to occur: bankruptcies (liquidations, not the Chapter 11 version) and consolidation of distressed players. The magnitude of the change will depend on the recovery in oil demand and oil prices. Long-term recessionary scenarios greatly increase the possibility of a permanent reduction in oil demand, which could lead to the need to rationalize the OFES industry.
Oilfield Service Firm National Oilwell Trims Staff Amid Industry Slump
The winning metrics are described in more detail in Section 3. Our Roland Berger Oilfield Services team would welcome the opportunity to offer company-specific performance perspectives and give you our outside perspective on the strategic challenges facing the industry.
As an analytical basis for our strategy and operational support for the OFES industry, we regularly monitor financial results
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