Schlumberger to Stop Taking New Field-Management Projects

Oilfield services provider spent billions of dollars managing customers’ oilfields, in some cases becoming an investor in the fields, while seeking to profit from increased oil production. Schlumberger, the world’s largest oilfield services provider, will stop taking new field management contracts, which have been criticized for their heavy upfront investment, while it seeks to sell

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California to Tackle Idle Wells

There are nearly 30,000 idle wells in California, and half of them have not been operated in 15 years or more. California’s state petroleum regulators announced new rules last Friday regarding the handling of idle oil and gas wells. Regulations set to take effect April 1 require oil producers to test idle wells to prevent

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