Schlumberger

Oilfield services giant Schlumberger invests in crude production to beat out rivals

Innovation

By investing in its customer projects, Schlumberger does not have to bid for work, all but excludes competition Schlumberger NV, the world’s largest oilfield services company is spending billions of dollars to invest in its customers’ oil and gas projects. The arrangement means the company will have a say in drilling decisions, oilfield management and […]

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Hess seeks up to $40M from Schlumberger in well valve dispute

News

Hess says defective valve shuttered three wells, hampered production By Ernest Scheyder HOUSTON, July 27 (Reuters) – Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for $40 million or more, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and

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Schlumberger releases 16,000 employees in 2016 amid weak Q2 results

Energy Financial

US land rig count fell by 25% in second quarter Schlumberger released it’s second quarter results, and while it’s revenue is up 10 per cent from last quarter, at $7.2 billion, it’s all attributed revenue gained from the merger with Cameron International Corporation, which finalized April 1. North American revenue decreased 12 per cent, while international revenue decreased 9 per cent. “In the

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Schlumberger suspends services in Venezuela due to insufficient payments

Energy Financial

PDVSA maintain they are not having problems paying their bills, and labelled it manipulation by the media LONDON- Schlumberger Limited announced today that it will reduce its activity in Venezuela after it failed to collect payments from the national oil company. In October, Schlumberger was said to be shifting some of its workers from Brazil

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Schlumberger completes merger with Cameron

Energy Financial

Schlumberger claims merger results in oil and gas industry’s first complete drilling and production systems HOUSTON, Texas – Schlumberger Limited announced Monday that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share.

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Schlumberger revenue down partly due to ‘challenging currency environment’

Energy Financial

Schlumberger North America revenue declined 39% (land down 45%, offshore down 17%) HOUSTON, Texas – Schlumberger Limited says 2015 global revenue was down 27 per cent, with a full one-third of the decline coming from the weak position of international currencies against the US dollar. “Full-year 2015 revenue of $35.5 billion decreased 27 per cent year-on-year in

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Schlumberger buys Novatek, inventors of synthetic diamonds for drilling

News

Novatek boasts 60-year history of synthetic diamond development, more than 600 patents Schlumberger announced Wednesday that it has acquired Utah-based Novatek, which specializes in synthetic diamond technology for the oil and gas industry. “Since my father, Tracy Hall, synthesized the first manmade diamond 60 years ago, synthetic diamond technology has revolutionized the diamond cutting and drilling industries,”

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