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Schlumberger NV (SLB.N)

SLB.N on New York Stock Exchange

61.13USD
21 Sep 2018
Change (% chg)

$-0.44 (-0.71%)
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Latest Key Developments (Source: Significant Developments)

Shearwater To Acquire Schlumberger Marine Seismic Acquisition Business
Wednesday, 22 Aug 2018 02:00am EDT 

Aug 22 (Reuters) - Schlumberger NV ::SHEARWATER TO ACQUIRE SCHLUMBERGER MARINE SEISMIC ACQUISITION BUSINESS.TO RECEIVE CASH CONSIDERATION BASED ON ENTERPRISE VALUE OF $600 MILLION PLUS 15% POST-CLOSING EQUITY INTEREST IN SHEARWATER GEOSERVICES HOLDING.WILL HAVE OPTION TO UTILIZE TWO VESSELS FROM SHEARWATER ON POTENTIAL MULTICLIENT WORK FOR FIRST TWO YEARS AFTER CLOSING TRANSACTION.PARTIES EXPECT TO CLOSE TRANSACTION IN Q4 OF 2018.TRANSACTION INCLUDES MARINE SEISMIC VESSELS, PROPRIETARY ACQUISITION TECHNOLOGY AND FACILITIES.ADDITIONAL $50 MILLION OF CASH WILL BE INJECTED IN SHEARWATER FOR WORKING CAPITAL PURPOSES, TOTAL CASH FUNDING REQUIREMENT FOR TRANSACTION TO $650 MILLION.$600 MILLION IN CASH CONSIDERATION,$50 MILLION FOR WORKING CAPITAL PURPOSES TO BE FUNDED BY $325 MILLION IN NEW CASH EQUITY,$325 MILLION IN DEBT FINANCING.  Full Article

Schlumberger Sees Double-Digit Growth In International Business in 2019 - Conf Call
Friday, 20 Jul 2018 09:23am EDT 

July 20 (Reuters) - Schlumberger NV ::SAYS EFFECTIVE TAX RATE WILL RISE NEXT QUARTER AND OVER THE REMAINDER OF THE YEAR - CONF CALL.SAYS MULTI-SCALING AND REMOTE OPERATIONS WILL ALLOW CO TO REDUCE OVERALL HEADCOUNT ON THE RIG SIDE BY UP TO 35%.- CONF CALL.SAYS WILL MOBILIZE A TOTAL OF 90 LAND RIGS IN 2018 - CONF CALL.SAYS "STARTED TO ENGAGE IN PRICING DISCUSSIONS WITH MANY OF OUR CUSTOMERS" - CONF CALL.SEES EPS GROWTH OF 10 PERCENT TO 15 PERCENT SEQUENTIALLY IN Q3 - CONF CALL.SAYS ONGOING MOBILIZATION OF ALL SERVICES NEEDED FOR NEW DRILLING PROJECTS WILL LEAVE CO WITH NO SPARE CAPACITY BY 2018 END - CONF CALL.SAYS GROWTH IN INTERNATIONAL NEXT YEAR WILL BE DOUBLE DIGIT- CONF CALL.SAYS YET TO SEE ANY REAL IMPACT ON ACTIVITY GROWTH OR PRICING FROM PERMIAN CONSTRAINTS - CONF CALL.SAYS SEVERAL ASSETS HAVE GENERATED A VALUE THAT CO WILL BE ABLE TO SELL- CONF CALL.SAYS "THIS IS WHAT WE WANT TO DO IN THE NEXT 12 TO 18 MONTHS ONCE WE REALLY START REACHING PEAK VALUATION ON THEM" - CONF CALL.SAYS GROWTH IN DEEPWATER WILL CONTINUE AND ACCELERATE GOING INTO 2019 - CONF CALL.SAYS ONGOING PRICING DISCUSSIONS WILL IMPACT RESULTS IN FIRST HALF OF 2019 - CONF CALL.  Full Article

Schlumberger - CEO Paal Kibsgaard's Total Compensation For 2017 Was $20.8 Mln
Friday, 2 Mar 2018 12:09pm EST 

March 2 (Reuters) - Schlumberger Nv ::SCHLUMBERGER SAYS CFO SIMON AYAT'S 2017 TOTAL COMPENSATION WAS $8.5 MILLION VERSUS $6.5 MILLION IN 2016.SCHLUMBERGER - CEO PAAL KIBSGAARD'S TOTAL COMPENSATION FOR 2017 WAS $20.8 MILLION VERSUS $18.6 MILLION IN 2016 - SEC FILING.  Full Article

Subsea 7 and Schlumberger plans 50/50 owned subsea joint venture
Friday, 23 Feb 2018 01:12am EST 

Feb 23 (Reuters) - Subsea 7 Sa ::SCHLUMBERGER AND SUBSEA 7 ANNOUNCE INTENT TO FORM A JOINT VENTURE.‍SCHLUMBERGER AND SUBSEA 7 S.A. TODAY ANNOUNCED THAT THEY HAVE ENTERED INTO EXCLUSIVE NEGOTIATIONS TO FORM A JOINT VENTURE THAT BUILDS ON SUCCESS OF SUBSEA INTEGRATION ALLIANCE, WHICH WAS ESTABLISHED IN 2015​.‍JOINT VENTURE WILL BE OWNED 50% BY SUBSEA 7 AND 50% BY SCHLUMBERGER​.‍SUBSEA INTEGRATION ALLIANCE CURRENTLY COMBINES SUBSURFACE EXPERTISE, SUBSEA PRODUCTION SYSTEMS (SPS) AND SUBSEA PROCESSING SYSTEMS OF ONESUBSEA WITH SUBSEA UMBILICAL, RISER AND FLOWLINE SYSTEMS (SURF) CAPABILITY OF SUBSEA 7​.‍PROPOSED JOINT VENTURE WILL FURTHER STRENGTHEN FRONT END ENGINEERING, DESIGN AND EXECUTION OF INTEGRATED PROJECTS​.‍WILL BUILD ON EXPERTISE FROM BOTH COMPANIES CREATING A UNIQUE LIFE OF FIELD OFFERING THAT INCLUDES AUTONOMOUS SUBSEA TECHNOLOGY, DIGITALLY ENABLED REMOTE SURVEILLANCE AND PRODUCTION MONITORING, AND INSPECTION, MAINTENANCE AND REPAIR SERVICES​.‍BOTH PARTIES EXPECT TO ACCOUNT FOR THEIR INVESTMENTS IN JOINT VENTURE UNDER EQUITY METHOD OF ACCOUNTING​.‍CUSTOMERS WILL REMAIN FREE TO PURCHASE NON-INTEGRATED PRODUCTS AND SERVICES FROM ANY MANUFACTURER AND VENDOR, INCLUDING SCHLUMBERGER AND SUBSEA 7​.  Full Article

TGS CEO aims to keep dividend at $0.2 per share in coming quarters
Thursday, 8 Feb 2018 03:54am EST 

Feb 8 (Reuters) - Tgs Nopec Geophysical Company Asa ::TGS CEO: EXPECTS TO PAY OUT DIVIDEND OF $0.20 PER SHARE ALSO IN THE COMING QUARTER; AIM IS TO PAY OUT THE WHOLE FREE CASH FLOW.TGS CEO: WE HAVE INCREASED OR DIVIDEND (FROM $0.15 IN Q3) AND OUR AMBITION IS TO KEEP IT ON THAT LEVEL, IT WILL BE $0.8 FOR THE YEAR .TGS CEO: EXPECTS WESTERN GECO'S EXIT FROM MARINE SEISMIC VESSEL MARKET TO BE NEUTRAL FOR TGS.  Full Article

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

UPDATE 2-Ophir takes $310 mln charge for Africa LNG plan, to move HQ to Asia

* Government threatened to withdraw LNG licence (Adds interim CEO comments, updates stock price)