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Schlumberger NV (SLB.N)

SLB.N on New York Stock Exchange

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22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Schlumberger Q2 GAAP loss per share $1.56
Thursday, 21 Jul 2016 04:25pm EDT 

Schlumberger NV : Qtrly asset impairment, workforce reduction, and merger and integration charges totaled $1.79 per share . Qtrly quarterly cash dividend of $0.50 per share approved . Schlumberger decided to further reduce its headcount . In Q2 market conditions worsened further in most parts of global operations . Also recognized $335 million in merger and integration charges relating to Cameron acquisition in q2 . Qtrly North America pro forma revenue decreased 20% sequentially as a result of Canadian spring break-up, us land rig count decline of 25% . "heading more rapidly towards an increasing negative gap between global supply and demand for oil" . As oil prices nearly doubled from lows of jan 2016, to renegotiate contracts with limited promise of longer-term financial viability . Capex (excluding multiclient and spm investments) is expected to be $2.2 billion for 2016 . Announces Second-Quarter 2016 results . Q2 earnings per share $0.23 excluding items . Q2 gaap loss per share $1.56 . Q2 revenue $7.2 billion versus i/b/e/s view $7.13 billion . Q2 earnings per share view $0.21 -- Thomson Reuters I/B/E/S . Qtrly pretax operating margin of 10.4% percent versus 19 percent last year . Schlumberger recorded a $646 million pretax charge during q2 associated with these headcount reductions . Non-Cash $1.9 billion impairment charge for fixed assets, inventory, and multiclient seismic data in quarter.  Full Article

Schlumberger says Q2 drilling group revenue expected to decline more severely by about 20 pct
Tuesday, 21 Jun 2016 11:41am EDT 

Schlumberger NV : Schlumberger says drilling group revenue in the second quarter is expected to decline more severely by about 20% . "pricing pressure and the significant excess of service equipment will limit our earnings potential until 2017" . Schlumberger says rig count levels in North America now appear to have stabilized at a level 80% below the peak of October 2014 ."internationally, activity continues to fall, although pockets of outperformance exist in Russia and the Middle East".  Full Article

WSP Global enters into an agreement with Schlumberger
Friday, 17 Jun 2016 08:00am EDT 

WSP Global Inc : WSP enhances its expertise in water through proposed acquisition of Schlumberger's industrial water consultancy business . WSP Global Inc says has entered into an agreement with Schlumberger to acquire its industrial water consultancy business . Deal will enable to provide water consulting services, project solutions to industrial clients worldwide, will establish presence for co in Chile, Peru . WSP Global Inc says transaction is expected to close in Q3 of 2016 .WSP Global Inc says has entered into an agreement with Schlumberger to acquire its industrial water consultancy business.  Full Article

Schlumberger CEO Kibsgaard reports open market sale of 32,857 shares of co
Friday, 10 Jun 2016 10:40am EDT 

: Schlumberger NV CEO Paal Kibsgaard reports open market sale of 32,857 shares of co's common stock on 9 june at $80 per share - SEC filing Source (http://bit.ly/1tmHyVA) Further company coverage: [SLB.N] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Schlumberger appoints former BG, Statoil boss Helge Lund to board - WSJ
Thursday, 9 Jun 2016 10:49am EDT 

:Schlumberger appoints former BG, Statoil boss Helge Lund to board - WSJ.  Full Article

Schlumberger President reports open market sale of 9,128 shares of co
Wednesday, 8 Jun 2016 12:13pm EDT 

: Schlumberger NV President Patrick Schorn Reports Open Market Sale Of 9,128 Shares Of Co's Common Stock On June 7 At $80.27 Each - SEC filing Source (http://bit.ly/1rdanlh) Further company coverage: [SLB.N] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Schlumberger acquires Omron Oilfield and Marine Inc
Thursday, 2 Jun 2016 09:11pm EDT 

Schlumberger NV : Schlumberger acquires Omron Oilfield And Marine Inc Further company coverage: [SLB.N] (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

Golar LNG says Oscar Spieler to replace Gary Smith as CEO
Tuesday, 10 May 2016 09:16am EDT 

Golar Lng Ltd : Intends to seek additional capital to fund Golar Power, is engaged in talks with a private equity fund to jointly develop this company . Gary Smith is resigning from his position as chief executive;Oscar Spieler will be appointed to replace Gary as CEO . To explore development of a downstream LNG company comprising implementation of strategic LNG entry points in emerging markets .Board has engaged Krzysztof Zielicki to structure cooperation with Schlumberger.  Full Article

Schlumberger NV completes merger with Cameron International Corporation.
Friday, 1 Apr 2016 06:06pm EDT 

Schlumberger NV:Has closed its merger with Cameron International Corporation.As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash.  Full Article

Schlumberger NV announces quarterly cash dividend and approves new share repurchase program of $10 billion
Friday, 22 Jan 2016 02:00am EST 

Schlumberger NV:Says that on Jan. 21, the board approved the quarterly cash dividend of $0.50 per share of outstanding common stock, beginning with the dividend payable on April 8, to stockholders of record on Feb. 17.Says additionally, in view of the fact that the company's current $10-billion share repurchase program that commenced in the third quarter of 2013 is about to be completed, the Board also approved a new share repurchase program of $10 billion.  Full Article

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Schlumberger sees oil supply deficit if demand growth holds

Schlumberger Ltd, the world's No. 1 oilfield services provider, said it expects a "significant global supply deficit" of crude oil, assuming steady growth in demand, given the sharp decline in spending on exploration and production.