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Schlumberger NV (SLB.N)

SLB.N on New York Stock Exchange

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28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Schlumberger and Golar LNG form joint venture
Monday, 25 Jul 2016 08:15am EDT 

: Golar LNG and Schlumberger form OneLNG joint venture . Joint venture is created to rapidly develop low cost gas reserves to LNG . "The combination of Schlumberger reservoir knowledge, wellbore technologies and production management capabilities, with Golar's low cost FLNG (Floating LNG) solution, will offer gas resource owners a faster and lower cost development thereby increasing the net present value of the resources" . Golar and Schlumberger have 51/49 ownership of the joint venture . Golar and Schlumberger have agreed an initial investment commitment to cover the estimated equity needed to develop the first project . After reviewing the current market opportunities where 40% of the world's gas reserves can be classified as stranded, both parties are excited at the future prospects of OneLNG and are confident that it would conclude 5 projects within the next 5 years (Reporting By Oslo Newsroom) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Golar says OneLNG targets development of low cost gas reserves to LNG
Monday, 25 Jul 2016 08:10am EDT 

Golar Lng Ltd : Golar and Schlumberger have 51/49 ownership of joint venture. . Co, Schlumberger will on a project-by-project basis discuss additional debt capital as required . Golar and Schlumberger form OneLNG joint venture: OneLNG targets development of low cost gas reserves to LNG . Golar and Schlumberger have agreed an initial investment commitment to cover estimated equity needed to develop first project .Future financing to take into account Golar's flng intellectual property through equitable contribution mechanism to be agreed between parties.  Full Article

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

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