Slow capital spending since 2014 must be made up for
New international discoveries in 2018 hit the lowest level since 2000
SLB sees North American E&P investments falling 10% in 2019
By Richard Rostad, analyst, Oil & Gas 360

Schlumberger (ticker: SLB) kicked off Q1 2019 earnings today, announcing $421 million in net income or $0.30 per share.

The slowing pace of global oil and gas activity impacted Schlumberger in Q1, as revenue was down 4% sequentially. International revenue was up 3% year-over-year, while North American revenue was down 3%. Schlumberger’s Latin American business has grown significantly over the past year, as increased activity in Ecuador and Mexico drove regional revenue up 14% year-over-year.


Legal Notice