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Schlumberger NV (SLB.N)

SLB.N on New York Stock Exchange

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11 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Weatherford International Says U.S. DoJ Has Cleared Proposed OneStim Joint Venture Between Weatherford And Schlumberger
Tuesday, 28 Nov 2017 05:59pm EST 

Nov 28 (Reuters) - Schlumberger NV ::WEATHERFORD INTERNATIONAL PLC - U.S. DEPARTMENT OF JUSTICE HAS CLEARED PROPOSED ONESTIM JOINT VENTURE BETWEEN WEATHERFORD AND SCHLUMBERGER LTD.  Full Article

Schlumberger files for potential mixed shelf offering size not disclosed
Friday, 27 Oct 2017 10:29am EDT 

Oct 27 (Reuters) - Schlumberger Nv :Schlumberger NV files for potential mixed shelf offering; size not disclosed - sec filing.  Full Article

Schlumberger on track to achieve cash flow generation target for the year - conf call
Friday, 20 Oct 2017 09:14am 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
Friday, 20 Oct 2017 07:00am 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

U.S. government urges SCOTUS to clarify damages law in Schlumberger patent case

The federal government on Wednesday urged the U.S. Supreme Court to take up oilfield services company Schlumberger NV's claim that it is entitled to lost overseas profit damages in a patent infringement case.