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Schlumberger NV (SLB)

SLB on New York Consolidated

63.15USD
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Schlumberger on track to achieve cash flow generation target for the year - conf call
9:14am EDT 

Oct 20 (Reuters) - Schlumberger NV ::Schlumberger NV says remain on track to achieve cash flow generation target for the year - conf call.Schlumberger NV says current situation regarding global oil inventory is more positive than what is reflected by the industry - conf call.Schlumberger NV CEO says SPM won't alter co's core business, it will only compliment the core business - conf call.Schlumberger says there is still pricing pressure in new bids, but downward trend of pricing is slowing significantly in international markets - conf call.Schlumberger says in north america land, we do expect to grow, but i think the growth rate will slow - conf call.  Full Article

Schlumberger reports Q3 earnings per share of $0.42 excluding items
7:00am EDT 

Oct 20 (Reuters) - Schlumberger :Schlumberger announces third-quarter 2017 results.Q3 earnings per share $0.42 excluding items.Q3 revenue $7.9 billion versus I/B/E/S view $7.91 billion.Q3 earnings per share view $0.42 -- Thomson Reuters I/B/E/S.Q3 GAAP earnings per share $0.39 including items.Schlumberger NV - qtrly pretax operating margin of 13.4‍​ percent versus 11.6 percent last year.Schlumberger NV - ‍activity growth in Q3 was "again led by our North America Land GeoMarket​".Schlumberger NV - ‍in US Gulf of Mexico, activity continued to weaken in Q3, and outlook remains bleak for this region based on current customer plans​.Schlumberger NV - capex (excluding multiclient and SPM investments) is expected to be $2.1 billion for 2017‍​.Schlumberger NV - ‍reduction in global oil inventories in Q3 showing oil market now in "balance".Schlumberger NV - ‍geographically, qtrly North America revenue increased as co continued high redeployment rate of spare hydraulic fracturing capacity​.Schlumberger NV - ‍investment appetite in North America Land now seems to be "moderating".Schlumberger - see number of market factors, data points now emerging that make co increasingly positive, optimistic about outlook for co's global business.Schlumberger - ‍comments from several OPEC countries & Russia suggest an extension of production cuts beyond current 9-month agreement is a possibility​.  Full Article

Cenovus reaches agreement to sell Palliser assets for $1.3 bln
Thursday, 19 Oct 2017 06:00am EDT 

Oct 19 (Reuters) - Cenovus Energy Inc :Cenovus reaches agreement to sell Palliser assets for $1.3 billion.Cenovus reaches agreement to sell Palliser assets for $1.3 billion.Cenovus Energy Inc - ‍sale process for Cenovus's Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan is proceeding as expected​.Cenovus Energy Inc - ‍credit Suisse and Scotiabank acted as financial advisors to Cenovus for Palliser transaction​.Cenovus - proceeds from Palliser sale will be used to deleverage company's balance sheet​.Cenovus Energy Inc - ‍Cenovus anticipates reaching a sale agreement for Weyburn asset in Q4 of 2017​.Cenovus Energy Inc - ‍"we continue to target between $4 billion and $5 billion in announced asset sale agreements by end of year​".Cenovus Energy-anticipates reaching sale for its Weyburn asset in Q4 of 2017.Cenovus Energy Inc - ‍Cenovus has certain other non-core assets that are currently being evaluated for potential sale​.Cenovus Energy - agreement to sell its Palliser crude oil and natural gas assets in Southeastern Alberta to Torxen energy and Schlumberger​.  Full Article

Borr Drilling contemplating share offer to finance rig acquisition
Friday, 6 Oct 2017 08:15am EDT 

Oct 6 (Reuters) - BORR DRILLING LTD :‍IS CONTEMPLATING TO OFFER UP TO 162,500,000 NEW SHARES REPRESENTING 51.5 PER CENT OF OUTSTANDING SHARES OF COMPANY​.‍SUBSCRIPTION PRICE WILL BE USD 4.00 PER SHARE, RAISING GROSS PROCEEDS OF UP TO USD 650 MILLION​.PROCEEDS WILL BE USED TO PARTLY SECURE FINANCING FOR ACQUISITION OF JACK-UP RIGS FROM PPL AND FOR GENERAL CORPORATE PURPOSES​.‍COMPANIES THAT ARE CLOSE ASSOCIATES OF MR. TOR OLAV TROEIM HAVE IN TOTAL SUBSCRIBED FOR SHARES EQUIVALENT TO USD 35 MILLION AND WILL BE ALLOCATED SHARES EQUIVALENT TO AT LEAST USD 25 MILLION​.‍SCHLUMBERGER<<>> HAS SUBSCRIBED FOR SHARES EQUIVALENT TO USD 65 MILLION AND WILL BE ALLOCATED SHARES EQUIVALENT TO AT LEAST USD 50 MILLION​.‍SHARE ISSUANCE WILL BE CARRIED OUT AS A PRIVATE PLACEMENT AND BOARD OF DIRECTORS OF COMPANY IS OF OPINION THAT THIS IS IN BEST INTEREST OF COMPANY AND ITS SHAREHOLDERS​.  Full Article

Borr Drilling in talks with Schlumberger over collaboration -CEO
Wednesday, 30 Aug 2017 03:29am EDT 

Aug 30 (Reuters) - Borr Drilling Ltd Chief Executive Simon Johnson told a news conference on Wednesday::Says is in early discussions with Schlumberger <<>>, about future form of collaboration; one option could be to offer integrated drilling solutions.Says "there is definitely improvement in the jack-up market... We believe that we have definitely seen the bottom now".Taking stake in Atwood was an interesting financial investment, and "I would not read too much into that".  Full Article

Petrofac sells stake in Pánuco contract
Tuesday, 22 Aug 2017 02:00am EDT 

Aug 22 (Reuters) - Petrofac Ltd ::PETROFAC SELLS STAKE IN PÁNUCO CONTRACT.SAYS PETROFAC HAS SOLD ITS 50% INTEREST IN PETRO-SPM INTEGRATED SERVICES S.A. DE C.V TO SCHLUMBERGER​.TOTAL POTENTIAL CONSIDERATION IN LINE WITH NET BOOK VALUE OF PETROFAC'S INTEREST, COMPRISES CASH ON COMPLETION AND DEFERRED CONSIDERATION.TRANSACTION WAS COMPLETED ON AUGUST 15, 2017.  Full Article

Lamprell settles jacking equipment issues with Cameron International
Tuesday, 15 Aug 2017 02:20am EDT 

Aug 15 (Reuters) - Lamprell Plc ::LAMPRELL ‍TALKS LED TO SCHLUMBERGER AWARDING TO LAMPRELL CONTRACT. THESE ARE BEING CONSTRUCTED IN LAMPRELL'S EXISTING FACILITIES IN UAE​.LAMPRELL - ‍REACHED AMICABLE SETTLEMENT WITH CAMERON INTERNATIONAL, SCHLUMBERGER UNIT OVER ISSUES ASSOCIATED WITH JACKING EQUIPMENT SUPPLIED BY CAMERON IN 2016​.‍SETTLEMENT RESULTS IN LAMPRELL RECEIVING A PROPORTION OF REMEDIAL COSTS INCURRED IN RECTIFYING ISSUES ASSOCIATED WITH JACKING EQUIPMENT​.‍AFTER TAKING ACCOUNT OF OUTSTANDING PAYMENT, LAMPELL ANTICIPATES ITS CURRENT NET CASH POSITION WILL BE LARGELY UNCHANGED​.LAMPRELL - ‍HAS HELD CONSTRUCTIVE DISCUSSIONS WITH SCHLUMBERGER, WITH REGARDS TO SCHLUMBERGER'S LAND RIG FLEET REQUIREMENTS​.‍TALKS LED TO SCHLUMBERGER AWARDING TO LAMPRELL CONTRACT. THESE ARE BEING CONSTRUCTED IN LAMPRELL'S EXISTING FACILITIES IN UAE​.  Full Article

Weatherford reports second quarter 2017 results
Friday, 28 Jul 2017 07:00am EDT 

July 28 (Reuters) - Weatherford International Plc :Q2 revenue $1.36 billion versus I/B/E/S view $1.46 billion.Q2 loss per share $0.17.Q2 earnings per share view $-0.28 -- Thomson Reuters I/B/E/S.Q2 adjusted non-GAAP loss per share $0.24 excluding items.Weatherford International Plc - "‍believe our industry will remain range bound within this 'medium-for-longer' price level for some time"​.Says ‍until production growth is moderated, "we expect continuous short-term cyclical fluctuations​".Weatherford International Plc - ‍OneStim(SM)joint venture with Schlumberger on track to close in second half of 2017​.  Full Article

Geo-Jade Petroleum in investment deal with Soak Oil & Gas, Schlumberger
Thursday, 27 Jul 2017 07:48am EDT 

July 27 (Reuters) - Geo-jade Petroleum Corp <600759.SS>:Says it, Soak Oil & Gas LLP and Schlumberger Holding II sign agreement on investment in soak program.Says Schlumberger Holding II agrees to invest $214 million in Soak Oil & Gas for 30 percent stake.  Full Article

Schlumberger says it's likely to continue to see strong activity in U.S. in 2018 - conf call
Friday, 21 Jul 2017 10:03am EDT 

July 21 (Reuters) - Schlumberger NV ::Schlumberger NV says looking forward, expect U.S. land activity to "remain strong" throughout the second half of the year - conf call.Frac calendar fully booked well into Q4 in U.S. And "high demand" of drilling services expected to continue - conf call.Expect to double revenue from Schlumberger Production Management in the next two years - conf call.Schlumberger NV, on global oil market, says supply side is complex with "market nervousness" and investors speculation - conf call.Schlumberger NV CEO says expect to see a steady increase in activity, both in Q3 and Q4 in U.S. shale business - conf call.Schlumberger NV CEO says "likely that we will continue to see strong activity in the U.S. in 2018" - conf call.Schlumberger NV says expect to have all its total fleet of idle pressure pumping assets in operation by early Q4 - conf call.Schlumberger NV says "somewhat positively surprised" in terms of activity in the international market in Q2 - conf call.Schlumberger CEO says Q2 saw more negative oil sentiment, think it's going to turn in the second half of the year in terms of sentiments - conf call.Schlumberger CEO says I don't think we'll see a significant reduction activity in North America, but the growth rate might slow - conf call.Schlumberger says in Q3, we expect to see continuation of trends we have seen in Q2 - conf call.Schlumberger says in Q3, expect to see rig count to continue to grow, although at a slower pace than Q2 - conf call.  Full Article

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Top oilfield services firms signal fourth-quarter uncertainty

The world's top two oilfield service firms on Friday warned slower producer spending and weakness in offshore exploration may weigh on current-quarter earnings, but said activity could improve in the longer term as the global crude market comes into balance.