Monday, July 16, 2012

Doubts About Oil Prices Hinder Oil-Field Services

Schlumberger Ltd. and Baker Hughes Inc.'s results will kick off the second-quarter earnings season for oil-field services this Friday, as the industry ponders whether global economic woes will slow down what's been a robust and profitable quest for oil.

Oil-field service providers are technical guns-for-hire that exploration and production companies employ for the highly specialized art of oil and gas extraction. They enjoy a sellers' market when oil prices are high, because producers scramble to build new projects and pay a premium for their skills. But when oil prices contract, as occurred during the second quarter, they're the first to ...

Schlumberger Ltd. and Baker Hughes Inc.'s results will kick off the second-quarter earnings season for oil-field services this Friday, as the industry ponders whether global economic woes will slow down what's been a robust and profitable quest for oil.

Oil-field service providers are technical guns-for-hire that exploration and production companies employ for the highly specialized art of oil and gas extraction. They enjoy a sellers' market when oil prices are high, because producers scramble to build new projects and pay a premium for their skills. But when oil prices contract, as occurred during the second quarter, they're the first to ...

Source: http://feeds.wsjonline.com/~r/wsj/xml/rss/3_7011/~3/ecxgPcRQiW4/SB10001424052702303919504577522640994128840.html

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