SLB on Friday said the upstream market is beginning to exhibit “the characteristics of an upcycle,” with improving US land activity and growing demand for production technologies signaling a gradual recovery in producer spending. “We expect a range-bound commodity environment that is constructive for upstream investment,” Le Peuch said during the company's second quarter earnings call. Meanwhile, LNG feedgas averaged 17.5 Bcf/d, up 0.4 Bcf/d week/week, while pipeline exports to Mexico averaged 7.5 Bcf/d, up 0.5 Bcf/d. Executives cited stronger demand for production chemicals, artificial lift equipment, valves and other technologies aimed at increasing output from existing assets. “Improving production, enhancing recovery, and extending the life of existing assets.”