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Schlumberger NV (SLB)

SLB on New York Consolidated

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23 Jun 2017
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Latest Key Developments (Source: Significant Developments)

Schlumberger recommends stockholders reject offer by TRC Capital
Tuesday, 20 Jun 2017 08:39am EDT 

June 20 (Reuters) - Schlumberger Nv :Schlumberger recommends stockholders reject “mini-tender” offer by trc capital corporation.Schlumberger nv - "schlumberger does not endorse trc capital's unsolicited mini-tender offer".  Full Article

Schlumberger Limited and Production Plus Energy Services announce joint venture
Monday, 19 Jun 2017 11:23am EDT 

June 19 (Reuters) - Schlumberger Ltd::Schlumberger Ltd and Production Plus Energy Services announce creation of JV entities for purpose of developing HEAL System technology and business.Outside of United States and Canada, Schlumberger will be sole distributor of HEAL System technology.JV will autonomously develop its business in the U.S., Canada.  Full Article

JKX Oil and Gas signs deal with Schlumberger to stimulate 11 wells in Q2, Q3 of this year
Wednesday, 17 May 2017 02:00am EDT 

May 17 (Reuters) - Jkx Oil And Gas Plc :Signed contract with Schlumberger to stimulate 11 wells with multiple zones in Q2, Q3 of this year.Expected that Rudenkivske field stimulation program will begin within next two weeks.  Full Article

Schlumberger says "activity has now reached bottom in all regions"
Friday, 21 Apr 2017 10:12am EDT 

April 21 (Reuters) - Schlumberger Nv :Schlumberger says "activity has now reached bottom in all regions" - conf call.Schlumberger says early signs of light offshore work coming in the next couple of quarters.Schlumberger says increase in offshore activity or shallow water activity is probably going to be a second half of the year event, leading into 2018.Schlumberger sees Q2 EPS growth of around 15% to 20% from Q1.Schlumberger expects "solid top line growth" in North America in Q2.Schlumberger says in international markets, still seeing continued pricing pressure on new tenders.Schlumberger says Q1 should be low end of earnings for year in international markets with only limited growth in Q2, but more acceleration in H2.  Full Article

Schlumberger says do not expect significant sequential growth from Middle East over coming quarters
Friday, 21 Apr 2017 10:10am EDT 

April 21 (Reuters) - Schlumberger Nv :Schlumberger sees strength in activity in North Sea, Russia and Caspian regions in coming quarters as the winter season ends, new projects start up.Schlumberger says do not expect significant sequential growth from Middle East over coming quarters.Schlumberger says will likely face another challenging year in the international markets.Schlumberger says expects international activity growth to accelerate towards the back-end of 2017 and into 2018.Schlumberger says will have some headwinds around one time reactivation cost in the coming quarters.Schlumberger says will be subject to some additional activation costs probably in the second and the third quarter.Schlumberger says "ready to sit down, again, and continue discussions" with Ecuador's state-owned Petroamazonas.Schlumberger says can't say at this stage how long it'll take to resolve payment issues in Ecuador.  Full Article

Schlumberger says continued to experience payment delays, primarily from customers in Latin America
Friday, 21 Apr 2017 10:08am EDT 

April 21 (Reuters) - Schlumberger Nv :Schlumberger says continued to experience payment delays, primarily from customers in Latin America.Schlumberger says in the process of redeploying service capacity and technical support resources from the U.S. Gulf of Mexico to other markets.Schlumberger says Latin America has reached the bottom of the cycle.Schlumberger says reached bottom of cycle in Malaysia and Indonesia, but no clear signs yet of any significant activity recovery.Schlumberger says E&P investment levels in North America are expected to increase by 50% in 2017.Schlumberger says no clear signs of any general increase in exploration spent, with the exception of Mexico.Schlumberger says in Africa, expect some recovery in activity in the north.  Full Article

Schlumberger posts qtrly GAAP EPS of $0.20
Friday, 21 Apr 2017 07:00am EDT 

April 21 (Reuters) - Schlumberger Nv ::Qtrly GAAP EPS, including Cameron integration charges of $0.05 per share, was $0.20.Qtrly revenue of $6.9 billion decreased 3 pct sequentially.Q1 pretax operating margin of 11 percent versus 13.8 percent last year.Qtrly EPS, excluding Cameron integration charges, was $0.25.Capex (excluding multiclient and SPM investments) is expected to be $2.2 billion for 2017.In the first quarter, the North America land market continued to strengthen in terms of both activity and pricing.In north america, revenue grew sequentially as unconventional land activity accelerated in quarter, partially offset by decline in offshore activity.Underinvestment in new supply increasing likelihood of medium-term supply deficit as reservoirs are produced but reserves not replaced in sufficient volume.In international markets, Q1 revenue impacted by greater than expected seasonal decline in activity & sales, particularly in China, Russia land.In international markets, qtrly revenue declined 7 pct sequentially, driven by a greater than expected seasonal decline in activity and sales.Q1 earnings per share view $0.25, revenue view $6.96 billion -- Thomson Reuters I/B/E/S.On April 20, board of directors approved qtrly cash dividend of $0.50 per share, payable on July 14, 2017.Saw lower sequential activity in key parts of the middle east in Q1.On April 12, co, YPF announced signing of preliminary agreement for JV in shale oil pilot project in Bandurria Sur block in Vaca Muerta.  Full Article

Production Plus Energy to form JV with Schlumberger in Canada and US
Thursday, 20 Apr 2017 10:19am EDT 

April 20 (Reuters) - Production Plus Energy Services : :Entered into an agreement with Schlumberger to create joint ventures in Canada and US.Will contribute its HEAL system business to JV entities in exchange for cash consideration and future contingent payments.At closing of transaction, production Plus will hold a 50.1% interest in JV entities and Schlumberger will hold 49.9%.Board of directors of Production Plus has unanimously approved transaction.Consideration received for 49.9% interest in HEAL system business will provide co opportunity to effect a special dividend.  Full Article

Weatherford and Schlumberger to form OneStim joint venture
Friday, 24 Mar 2017 04:45pm EDT 

Weatherford International Plc : Weatherford and Schlumberger to form OneStim joint venture . Weatherford International Plc - Schlumberger and Weatherford will have 70/30 ownership of joint venture, respectively . Weatherford International Plc - Schlumberger will manage joint venture and consolidate it for financial reporting purposes .Weatherford International Plc says Weatherford will receive a one-time $535 million cash payment from Schlumberger.  Full Article

Onesubsea awarded contract by BP
Tuesday, 21 Mar 2017 03:43am EDT 

Schlumberger - : Onesubsea announced award by BP of an engineering, procurement and construction (EPC) contract Further company coverage: [BP.L] [SLB.N] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

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BRIEF-Schlumberger recommends stockholders reject offer by TRC Capital

* Schlumberger recommends stockholders reject “mini-tender” offer by trc capital corporation