By Tyler Losier, Energy Reporter, Oil & Gas 360 Schlumberger appoints Olivier Le Peuch as CEO, Mark G. Papa as non-executive chairman of the board Schlumberger Limited (stock ticker: SLB), the largest public oilfield services company in the world by both market capitalization and enterprise value, has elected Olivier Le Peuch as its chief executive officer, effective August 1, 2019.
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
From Bloomberg It’s been a tough few years for Schlumberger Ltd. and Halliburton Co., but the oilfield services giants may finally be on an upward curve, thanks to a recovery in international drilling activity and signs of something similar happening in the U.S. The number of fracking crews working in U.S. shale basins hit a new record earlier this month, and is up
From Reuters Schlumberger NV, the world’s largest oilfield services provider, will stop taking new field management contracts, which have been criticized for their heavy upfront investment, while it seeks to sell off some existing deals, its chief executive officer said on Monday. CEO Paal Kibsgaard, speaking at the Scotia Howard Weil energy conference in New Orleans, said the business known
Schlumberger (NYSE: SLB) has named Olivier Le Peuch as Chief Operating Officer effective immediately. Le Peuch will be responsible for the day-to-day management of all worldwide operations for the oilfield services company. SLB CEO Paal Kibsgaard said Le Peuch is expected to grow all aspects of Schlumberger’s operations. Schlumberger executive management chart with new COO Olivier Le Peuch. Le Peuch
North American revenue down 12% sequentially Schlumberger (stock ticker: $SLB) kicked off the quarterly earnings season today, announcing net earnings of $538 million, or $0.39 per share. Schlumberger’s Q4 2018 results present a mixed comparison to its Q4 2017 results. At $8.2 billion, revenue is flat while operating income is down 16%. The company reported a loss last year, so
From Bloomberg The North American fracking market — already expected to be a downer for the holidays — is turning out to be even worse than expected, according to the world’s biggest oil-service provider. Schlumberger Ltd. expects sales in the U.S. and Canada to drop 15 percent in the final three months of the year compared with the third quarter, the
Frac market temporarily weakening Like oilfield services giant Schlumberger (ticker: SLB) reported on Friday, this week Halliburton (ticker: HAL) said it too is seeing a slowdown in the overall U.S. frac landscape. The company saw a slight increase in revenue in Q3 despite the slowdown, receiving $6.17 billion compared to $6.15 billion in Q2. Operating and net income showed declines,
Schlumberger CEO Kibsgaard says several key customers said they will lay down all their frac fleets from middle November until middle January No slowdown in international Houston-based oilfield services giant Schlumberger (ticker: SLB) reported its Q3 results Friday and CEO Paul Kibsgaard made some interesting comments on the call about the company’s projections for frac activity in the U.S. seeing
Schlumberger (NYSE: SLB) reported results for the second quarter of 2018 highlighted by sequential revenue increases and the mobilization of 29 new rigs for its international drilling business. The company also said it had removed one complete layer of its management and support structure. Financial Highlights Revenue of $8.3 billion increased 6% sequentially Pretax operating income of $1.1 billion increased
Schlumberger’s (ticker: SLB) wireline group has come out with a new technology system that it says will allow operators to more cleanly perforate a well. The company’s new ‘Tempo’ is an instrumented docking system that delivers real-time measurements in perforating operations. Tempo combines a new plug-in gun design with real-time advanced downhole measurements that measure the well’s dynamic underbalance. New plug-in
SLB: says will exit seismic acquisition market; posts almost a billion-dollar write down for Venezuela Schlumberger Limited (ticker: SLB) reported its results for fourth quarter and full-year 2017. Highlights Fourth quarter revenue of $8.2 billion, increased 3% sequentially Fourth quarter pretax operating income of $1.2 billion, increased 9% sequentially Fourth quarter GAAP loss per share, including charges of $2.11 per
