Oil Servicers Look to Middle East for Growth on Shale Slowdown

The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale.

That’s one of the big takeaways from comments this week made by executives at Helmerich & Payne Inc. and Patterson-UTI Energy Inc., who pointed to opportunities in countries such as Saudi Arabia to help drive growth. The comments echoed outlooks from some of the biggest names in the industry, including SLB and Weatherford International Plc, who expect the Middle East to lead a rebound in activity for the end of 2026 through 2027.