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Schlumberger NV (SLB.N)

SLB.N on New York Stock Exchange

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21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Schlumberger says supply & demand Balance for oil continues to tighten
Tuesday, 30 Aug 2016 02:23pm EDT 

Schlumberger NV : Schlumberger NV Sees Q3 Reservoir Characterization Results To Be "Almost Flat" Sequentially . Schlumberger NV Sees Q3 Drilling Group Results To Be Slightly Lower Due To Further Declines In Deepwater Activity In West Africa, Brazil, And Asia . Schlumberger NV Sees Q3 Production Group Results To Be "Flattish" . "We Realized $52 Million In Synergies In Q2 Of This Year. We Also Booked $125 Million Of New Orders, Which Is The Direct Result Of Integration Synergies" . Revenues And Margins Will Be Lower In Q3 For Cameron Group . "The Overall Supply And Demand Balance For Oil Continues To Tighten" . Land Rig Count In U.S. Slowly Rising Has Translated To Increasing Service Company Activity But There Has Yet To Be Material Change In Pricing . "Five Months After The Acquisition Of Cameron, Integration Is Firmly On Track And The Level Of The Expected Synergy Gains Has Been Confirmed" . "With The Price Of Oil Having Nearly Doubled Since The Start Of This Year, The Service Industry Must Now Seek To Increase Price" . International Activity Is Not Yet Recovering, Creating Headwind For Q3, Although Work In Middle East And Russia Has Been Increasing . "Started To Focus On Recovery Of The Temporary Pricing Concessions Made During The Depth Of The Downturn".  Full Article

Daya Materials Bhd says contract value of deal with Schlumberger is 37 million RGT
Tuesday, 23 Aug 2016 06:46am EDT 

Daya Materials Bhd : Contract value of deal with Schlumberger announced on August 15 is 37 million RGT .  Full Article

Daya Materials says unit awarded 3-yr contract by Schlumberger in Middle East
Monday, 15 Aug 2016 12:49am EDT 

Daya Materials Bhd : Unit, Daya maxflo sdn bhd ,has been awarded a 3-year contract by Schlumberger in the Middle East . Schlumberger contract for the provision of specialised well services in Saudi Arabia, will commence in the third quarter 2016 .  Full Article

Energy Recovery reports Q2 earnings per share $0.01
Wednesday, 3 Aug 2016 04:43pm EDT 

Energy Recovery Inc. : Q2 earnings per share view $-0.05 -- Thomson Reuters I/B/E/S . Q2 earnings per share $0.01 . Q2 adjusted earnings per share $0.01 excluding items . Q2 revenue $13.2 million versus $16.3 million . Q2 revenue view $10.3 million -- Thomson Reuters I/B/E/S . Continue to advance toward execution of two performance milestones pursuant to our vorteq licensing agreement with schlumberger .Licensing agreement with Schlumberger will trigger incremental $50 million in up-front contract payments..  Full Article

Hess CEO says believes the global oil market is rebalancing
Wednesday, 27 Jul 2016 11:25am EDT 

Hess Corp : Chief Executive John Hess says plans to reduce drilling rigs in Bakken from three to two by august . Says Schlumberger NV was vendor who provided faulty valve on Tubular Bells project . Says pursuing legal action against Schlumberger NV for remediation costs, attorney fees and lost profit due to idle time at Tubular Bells project . CEO says believes the global oil market is rebalancing . CEO says remains committeed to ipo of Bakken JV, but will wait for financial markets to improve .CEO says valve failure at Tubular Bells project in U.S. Gulf Of Mexico will harm 2017 production outlook.  Full Article

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

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Schlumberger beats on North American drilling; sees global recovery

Top oilfield services provider Schlumberger Ltd said on Friday it would redeploy all of its pressure pumping fleet by early next quarter as demand rises in North America and most of its international markets.