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Schlumberger NV (SLB)

SLB on New York Consolidated

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

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

Schlumberger reports Q2 loss per share of $0.05​
Friday, 21 Jul 2017 07:00am EDT 

July 21 (Reuters) - Schlumberger Nv -:Schlumberger NV qtrly ‍gaap loss per share, including charges of $0.40 per share, was $0.05​.Schlumberger NV qtrly ‍eps, excluding charges, was $0.35​.Qtrly ‍revenue of $7.5 billion increased 8% sequentially​.Schlumberger NV - qtrly ‍north america revenue increased 18%​.Schlumberger NV - qtrly pretax operating margin of 12.7 percent versus 11.0 percent in q1.Schlumberger NV - capex (excluding multiclient and spm investments) is expected to be $2.2 billion for 2017‍​.Schlumberger NV - ‍on july 20, 2017, schlumberger announced an agreement to acquire a majority (51%) equity interest in edc​.Schlumberger NV - "‍activity outlook in north america for second half of year remains robust​".Schlumberger NV - during the second quarter of 2017, schlumberger recorded $510 million of pretax charges that are classified in impairments & other.Schlumberger -"‍strengthening in international markets has so far been concentrated around land activity in western siberia and in opec gulf countries".Schlumberger NV - ‍also remain on track to close onestim(sm) joint venture transaction in second half of this year​.Schlumberger nv says ‍increased activity in north sea resulted from higher uk and norway drilling activity as rig count increased​ in quarter.Schlumberger - ‍now seeing increasing number of new offshore projects being prepared for tendering and fid in many of world's shallow water basins​.  Full Article

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

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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.