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The Oilfield Equipment and Services Industry: A Primer

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Part 9
The Oilfield Equipment and Services Industry: A Primer PART 9 OF 14

Exploring the Businesses of Large Oilfield Services Companies

Company overview: Schlumberger

Schlumberger (SLB) is the largest oilfield equipment & services (or OFS) company in the United States by revenue and market capitalization. SLB is an OFS industry leader, providing technology, integrated project management, and information solutions to upstream energy producers.

SLB operates in over 85 countries. The company acquired its industry peer Cameron International in April 2016. Schlumberger makes up 3.3% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES).

Exploring the Businesses of Large Oilfield Services Companies

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An introduction to Halliburton

Halliburton (HAL) is the second-largest OFS company in the United States. HAL helps energy companies in various ways, including locating hydrocarbons, drilling and formation evaluation, well construction and completion, and production optimization. HAL proposed the acquisition of Baker Hughes (BHI) in November 2014, but the proposal was terminated in May 2016. HAL operates in two segments:

  • Completion and Production
  • Drilling and Evaluation

BHI: A company overview

Baker Hughes (BHI) is one of the largest OFS companies in the United States. It generated ~64% of its total revenue outside the United States in 3Q16.

On October 31, GE (GE) disclosed that it would combine its Oil & Gas business with Baker Hughes to form a partnership. Under the terms of the transaction, GE will own 62.5% of the partnership, while BHI shareholders will own 37.5%. Read more about this in Market Realist’s GE to Partner with BHI? The Changing Oilfield Services Landscape. BHI operates in the following areas:

  • North America
  • Latin America
  • Europe/Africa/Russia Caspian
  • Middle East/Asia Pacific

NOV’s company overview

National Oilwell Varco (NOV) provides products and services related to upstream companies’ oil and gas drilling, completion, and production operations. NOV’s primary operating segments are as follows:

  • Rig Systems
  • Rig Aftermarket
  • Wellbore Technologies
  • Completion & Production Solutions

Next, we’ll discuss these large OFS companies’ revenues.

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