Weak Q1 25 earnings show the OFS industry is in for a turbulent year

May 22, 2025


Recently released for Energy Aspects subscribers, our analysis reveals a challenging outlook for oil field services companies. Q1 2025 earnings for Baker Hughes, Halliburton, and SLB dropped by a third quarter-on-quarter, to a combined $1.7 billion, the first such decline since Q1 2024.


What you'll discover in this analysis:

  • Major OFS companies' earnings trends and industry health outlook for 2025. 
  • Contrasting performance between tight oil activity and deepwater operations. 
  • Tariff implications for OFS supply chains and equipment manufacturing. 
  • Regional market performance across North America, Mexico, and Saudi Arabia.
  • Strategic responses to shareholder expectations during market turbulence.
Weak Q1 25 earnings show the OFS industry is in for a turbulent year

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