People | Service & Supply | Quarterly / Earnings Reports | Oilfield Services | First Quarter (1Q) Update | Job Cuts / Downsize / Layoff
Schlumberger Cut 8,000 Jobs, Halliburton 6,000 in 1Q16
Print
|
Schlumberger (NYSE:SLB) 4-22-2014
In response to the bad first quarter, the company has announced during its investor call that it plans to cut a total of 8,000 jobs. This would add to the total of jobs now eliminated by Schlumbger to be 42,000 since the downturn began.
Schlumberger’s worldwide head count only decreased from 95,000 to about 93,000 — as low as 92,500 now — but the company reclassified 5,500 contractors as permanent employees, so the overall reduction was 8,000 employees, Kibsgaard clarified today.
Halliburton (NYSE:HAL) 4-22-2016
Headcount “Responding to the reality of the market, we force-fit our employee headcount to available activity levels. This provides sustainable structural savings without compromising our ability to add personnel to serve the market when it recovers. This included consolidating management roles across countries and centralizing support functions. This resulted in a workforce reduction of more than 6,000 during the first quarter. Since the downturn began in late 2014, we have reduced our global headcount by approximately one-third.
US Rig Count
2014 - Current. (April 22, 2016)
Rig Count (Jan 4- Current)
More Job Cuts / Downsize / Layoff News
Exxon to Cut Corporate Workforce 5-10 Percent Annually
ExxonMobil is launching an initiative to reduce its workforce during the next three to five year period, according to a report by Bloomberg. Citing people familiar with the…
Marathon Trims Workforce by 100 Employees (5%), Reduces Exec Pay
Marathon Oil has cut approximately 5% of its workforce, according to a report by Reuters. Out of a total of ~2,000 workers, around 100 employees were let go…
Shell to Cut 700 Workers As It Shutters Louisiana Refinery
Royal Dutch Shell will be slimming its workforce by almost 700 as a result of the closure of its Convent Louisiana refinery, according to multiple reports. The layoff…
Parsley to Lay Off Austin Team as Part of Merger with Pioneer
Parsley Energy will lay off most of its Austin, Texas workforce as part of its sale to Pioneer Natural Resources, according to a notice to the Texas Workforce…
Exxon to Cut 700 Houston-Based Employees from Workforce
ExxonMobil will lay off more than 700 workers in the Houston area, according to a warn notice sent to the Texas Workforce Commission. The compay previously disclosed it…
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
International News
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…
Baytex 2026 Development Plans
Baytex’s 2026 development plan reflects a post–Eagle Ford sale capital program and a sharpened focus on its core Canadian assets. The Company approved 2026 exploration and development expenditures…
Tourmaline: 2026 Capital Program Locked In at $2.9B
Tourmaline’s 2026 exploration and production (EP) program is set at $2.9 billion and targets average production of 690,000–710,000 boepd, with the company maintaining the multi-year EP Plan released…
Cenovus Outlines 2026 Development Plan Following MEG Integration
Cenovus’ 2026 plan targets capital investment of $5.0 billion to $5.3 billion (including ~$350 million of capitalized turnaround costs) and upstream production of 945,000 BOE/d to 985,000 BOE/d,…
Gran Tierra Energy To Step Down Activity in 2026
Gran Tierra Energy’s 2026 development plan reflects a step-down in spending and activity as the company transitions from fulfilling Ecuador exploration commitments in 2025 toward a free-cash-flow-focused program.…