Seismos provides the CO2 EOR market with field-installed, low-impact emitters and seismic sensors connected to a cloud-based data processing. First-year returns on investment are upwards of 100%, the company said.
The U.S. Justice Department said on March 25 that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine.
Operators are employing several tools to increase production despite budget cutbacks, including high grading acreage, high-intensity completions and leveraging lower service costs to navigate the new low oil price era.
Superior is interested in assets Baker Hughes Inc. and Halliburton Co. must sell during their merger, Bloomberg said. Superior, seeking international exposure, will become the fourth-largest oilfield services company.
Cutbacks would further negatively affect oilfield services, reinforce the U.S.’ emerging swing producer status and could possibly cause higher expectations for a steeper drop in domestic output, Reuters said.
Buyer Frank’s International had nearly $500 million in cash in February and was expected to make an acquisition. The company bulked up its U.S. holdings, which accounted for less than 15% of total 2014 revenue.