Do you remember this time last year? As spring turned to summer, energy prices were moving upward. By mid-July 2008, oil prices peaked at $147 per barrel. But as with Gen. Pickett and his famous charge at Gettysburg, that lofty level of $147 was the high-water mark for oil prices.

By August of last year, the price of oil was retreating, and it was a hard slog on the way down. By midwinter, in December 2008 and January 2009, oil prices were in the $30s per barrel - a drop of over 75% within six months. It was a wild ride.

Natural gas had a similar rise and fall last year. In July 2008, the NYMEX price for natural gas was around $13 per mcf (thousand cubic feet). By October 2008, that price was cut in half. In fact, natural gas prices trended down throughout the chilly winter of 2008-2009. The current

...

Schlumberger Ltd.'s (SLB) first-quarter earnings per share of 78 cents beat the consensus by a penny, although energy companies cut back on exploration and drilling due to lower demand and prices.

At Schlumberger's oilfield services business, revenue dipped 3% from the previous year to $5.4 billion, battered by the sharp fall of natural-gas drilling in North America.

Meanwhile, the company's WesternGeco arm reported an 18% drop in revenue year-over-year, amounting to $551 million.

Earlier this week, Halliburton Co. (HAL) and Weatherford International Ltd. (WFT), two of the biggest oilfield services companies, reported lackluster first-quarter results.

Going forward, Schlumberger does not expect any significant recovery in North American gas drilling ahead of 2010.

The current-year average earnings estimate has declined to $2.68 per share from last month's $2.99 as 13 out of 20 covering analysts pulled back on expectations.

For next year, 6 out of 16 analysts

...

Neohydro Technologies Corp. is the exclusive licensee for the worldwide industrial applications of the Neohydro™ and Pathocell™ technologies. Neohydro Technologies is positioning to be the leading service company for providing economical end-to-end water supply solutions for industrial clients around the world. The Company is focusing their efforts on water sterilization technology.

Neohydro is bringing a noninvasive, cost-efficient solution to industrial wastewater management. Improving the treatment of industrial water allows them to redefine the management, flexibility, efficiency, and cost-effectiveness of industrial water supply. They believe their technology will foster ethical and environmentally sound business practices and help alleviate the growing water supply crisis.

Neohydro Technologies Corp.’s device and associated technology will find use in the treatment of industrial wastewater. They are offering a high voltage electrolysis device that transforms water solely for industrial applications. The technology will allow onsite treatment of wastewater from industries such as gas drilling, oil drilling, pulp and

...

Neohydro Technologies Corp. is the exclusive licensee for the worldwide industrial applications of the Neohydro™ and Pathocell™ technologies. Neohydro Technologies is positioning to be the leading service company for providing economical end-to-end water supply solutions for industrial clients around the world. The Company is focusing their efforts on water sterilization technology.

Neohydro is bringing a noninvasive, cost-efficient solution to industrial wastewater management. Improving the treatment of industrial water allows them to redefine the management, flexibility, efficiency, and cost-effectiveness of industrial water supply. They believe their technology will foster ethical and environmentally sound business practices and help alleviate the growing water supply crisis.

Neohydro Technologies Corp.’s device and associated technology will find use in the treatment of industrial wastewater. They are offering a high voltage electrolysis device that transforms water solely for industrial applications. The technology will allow onsite treatment of wastewater from industries such as gas drilling, oil drilling, pulp and

...

A massive slump in oil exploration spending pummeled Schlumberger Ltd. (SLB), the world’s largest oilfield services corporation, as profit fell 17% in the fourth quarter. But the company said curtailed spending could be setting the stage for a rebound in oil and gas prices as supplies dwindle. Schlumberger is pulling back as a collapse in petroleum prices led to a sharp drop in exploration spending by its customers. Commodity prices have plummeted in recent months, as recessions in some of the world’s largest economies dampened demand. Like all oil producers, Schlumberger has been hurt by the plunge in the price of oil, which has fallen from $147 per barrel in July to about $42 per barrel now. The company has also seen its budget for exploration cut by 40%....

Companies mentioned here include Schlumberger (SLB), Nabors  (NBR), Patterson-UTI  (PTEN), BJ Services  (BJS) and Halliburton  (HAL).Schlumberger's Weak Outlook to Weigh on the GroupOilfield service giant, Schlumberger (SLB) reported weaker-than-expected 4th-quarter results this morning and provided an overall weak outlook for the coming quarters.Given its benchmark status, Schlumberger's results and its dour outlook set the stage for the rest of the oilfield service group. We expect earnings expectations for the group, particularly for 2009, to come down in the coming days.Schlumberger's 4th-quarter recurring EPS of $1.03 (we were expecting $1.10) was down from $1.29 in the preceding quarter and $1.11 in the year-earlier quarter. Quarterly revenue of $6.87 billion, below our $7.05 billion estimate, was down 5.4% sequentially, but up 10% year over year.Oilfield service revenue increased 15% from the year-earlier level, but declined ...