The New Gusher in the Oil Patch? Red Ink
Attachment: BankruptcyHB0820
SUGAR LAND--August 3, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Oilfield-service companies have started releasing financial results for the second quarter, and the news ranges from bad to historically awful. Bankruptcy filings are up and look to grow further. Plummeting revenue, large losses and a lot of job cuts are what the first filings from oilfield-service companies show, and there's little reason to expect the bad news won't continue to course through that segment.
Within this article: Details on how some of the oilfield-service companies are handling their growing crisis, including Schlumberger Limited (NYSE:SLB), Halliburton Company (NYSE:HAL), Baker Hughes Company (NYSE:BKR), ExxonMobil Corporation (NYSE:XOM), Royal Dutch Shell plc (NYSE:RDS.A), Chevron Corporation (NYSE:CVX), Weatherford International, Superior Energy Services (NYSE:SPN), Key Energy Services, Flotek Industries (NYSE:FTK), Basic Energy Services Incorporated, Calfrac, RWDY Incorporated, Naphtha Energy Solutions LLC, Total Oilfield Solutions LLC, and Vista Proppants and Logistics LLC.
