Schlumberger Ltd announced that its shares jumped Friday after the oilfield services provider said its second-quarter profit rose 13 percent and issued a bullish outlook. Analysts praised the results. The stock rose $4.72, or 4.9 percent, to $101.50 in late-morning trading.
The Houston-based company said high oil and natural gas prices led to heavier spending [...]

Natco Group Inc, An oil services company, said Wednesday is has received a $24.9 million contract to provide membrane technology for an oil field off the Libyan coast. As part of the deal awarded in May, the company will supply a Cynara membrane system to capture carbon dioxide for re-injection into Bouri, Libya’s largest offshore [...]

A Lehman Brothers analyst raised his price targets on 37 companies in the oil services and drilling sector, seeing a strong recovery in 2008 and 2009 for North American natural gas drilling along with significant international growth over the next few years.
Analyst James Crandell’s top picks in the sector are Weatherford International Ltd., Halliburton Co., [...]