Oil & Gas Field Services
Brief Excerpt from Industry Overview Chapter:
Companies in this industry support oil and gas field operations on a contract basis. Major companies include Baker Hughes, Halliburton, Nabors, National Oilwell Varco, Schlumberger, and Weatherford (all based in the US); as well as China Oilfield Services (China), Saipem (Italy), and Transocean (Switzerland).
Demand is driven by oil and gas prices. The profitability of individual companies depends on technical expertise and efficiency of operations. Large companies can offer a broad range of services. Small firms can compete effectively by specializing in a particular type of service or geographic area.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include preparing wells for production, maintaining and enhancing the output of producing wells, and exploration. Additional services include well surveying (other than geophysical surveying and mapping); cleaning out, bailing, and swabbing of wells; and operation of workover rigs. Some larger companies also manufacture oil and gas field equipment.
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