Oilfield Firms See Highest Profit In Nearly A Decade

The world’s largest oilfield services providers saw last year their highest combined net profits since the shale boom of 2014, driven by a rebound in drilling activity amid soaring oil and gas prices. SLB – formerly Schlumberger – Halliburton, and Baker Hughes reported this past week very strong earnings for 2022 and said they expected the upcycle that began last year to be a multi-year feature in the oilfield services sector, thanks to improving pricing and tight equipment and service capacity in certain markets.   ‘Early…