Energy Revenue America Inc (ERAO): The Bottom is in for NatGas Oil/Energy -...

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Re: alfie63 post# 18669

Friday, 08/12/2016 2:09:35 PM

Friday, August 12, 2016 2:09:35 PM

The Bottom is in for NatGas Oil/Energy - Schlumberger LTD. CEO

http://www.naturalgasintel.com/articles/107181-oil-gas-industry-has-reached-the-bottom-schlumberger-ceo-says

The oil and gas industry has finally “reached the bottom” of the downcycle, Schlumberger Ltd. CEO Paal Kibsgaard told investors Friday during the international oilfield services (OFS) giant’s 2Q2016 earnings call.

Kibsgaard’s assessment that the second quarter likely marks the trough of the downturn echoes comments from Schlumberger’s OFS competitors (see Shale Daily, July 20).

Since coming off lows of $27/bbl oil in January, the industry has “seen a slow-but-steady increase in oil prices as the market data continues to show a tightening of the supply/demand balance and with the outlook clearly suggesting that these trends will further accelerate going forward,” Kibsgaard said.

Acquisitions continue.

http://newsok.com/article/5513489

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