Schlumberger Company News
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An Upstream Comeback with Less Splash but More Cash?
Friday, May 11, 2018 Capital spending with free cash flow, rather than debt, is a hallmark of the 'new normal.'
Frackers Preach Patience on Payoff From $70 Oil, Growth in Shale
Tuesday, April 24, 2018 The world's biggest oilfield service companies have a message for investors: There's a payoff for patience.
'Netflix for Oil' Setting Stage for $1 Trillion Data Battle
Monday, March 19, 2018 The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable.
Egypt Says Signs Seismic Survey Deal With Schlumberger
Wednesday, February 14, 2018 Egypt has signed a deal with Schlumberger to conduct a seismic survey in the Gulf of Suez.
Halliburton Takes Fracking Fight From Oil Field to Patent Office
Tuesday, February 06, 2018 Halliburton Co. isn't content to limit its battle for market share with Schlumberger Ltd. to the oil field these days.
Schlumberger Profit Beats, Predicts Strong 2018 For Shale
Friday, January 19, 2018 Schlumberger expects another strong year for shale drilling in 2018 along with its first international business growth in four years.
US Oil Service Firms Face Hit from Venezuela Debt Restructuring
Monday, November 06, 2017 The companies' services are critical for Venezuela.
Halliburton Posts International Revenue Growth, Unlike Schlumberger
Monday, October 23, 2017 Worldwide revenues rose for Halliburton in the third quarter, contrasting with larger rival Schlumberger.
Top Oilfield Services Firms Signal Fourth-Quarter Uncertainty
Friday, October 20, 2017 The world's top two oilfield service firms warned of a slowdown in North America and a challenging year ahead.
Schlumberger's Latest Asset Deal Raises Fresh Concerns Ahead Of 3Q
Thursday, October 19, 2017 Schlumberger seals a deal to buy oil and gas assets worth $1 billion from Cenovus Energy.
Offshore Start-Up Borr Drilling Aims To Expand Fleet, Keep Costs Low
Wednesday, August 30, 2017 The start-up, launched last year and backed by Schlumberger, said it aimed to have the lowest cash break-even costs in the industry.
Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow
Wednesday, August 23, 2017 For Schlumberger and Halliburton the road to payment for services in Venezuela is increasingly long and winding.
Russian Watchdog Says Schlumberger-Eurasia Drilling Deal 'Has Big Problems'
Wednesday, August 16, 2017 The acquisition of a 51% stake in Russia's EDC by Schlumberger 'has big problems' in the current political situation.
Schlumberger Buys Eurasia Drilling Stake In Test Of Russia-US Ties
Friday, July 21, 2017 Schlumberger NV has agreed to buy a 51% stake in Russian peer Eurasia Drilling Co (EDC) in a deal likely to test Russia-US ties.
Schlumberger Expects International Markets Recovery In Late 2017
Friday, January 20, 2017 Schlumberger NV says that it does not expect a "dramatic" short-term recovery in international markets.
Schlumberger Expands Production Services Portfolio with Peak Buy
Thursday, January 05, 2017 Schlumberger acquires Peak Well Services to expand its offerings of its production services portfolio.
Oilfield Services Giant Schlumberger Cuts More Jobs
Monday, December 12, 2016 Schlumberger cuts more jobs as the company continues to feel the effects of the oil and gas industry downturn.
Ophir Holdings, OneLNG to Establish JOC for Fortuna Project
Thursday, November 10, 2016 Ophir Holdings & Ventures LTD and OneLNG sign a binding shareholders' agreement to establish a joint operating company to develop the Fortuna project, in Block R, offshore Equatorial Guinea.
Schlumberger Sees Early Signs Of Recovery In Most Markets
Friday, October 21, 2016 Schlumberger says there were early signs of recovery in industry activity in most parts of the world, as oil prices stabilize after a two-year slump.
Schlumberger Sees Improved Activity In N. America In 2017
Thursday, October 20, 2016 Schlumberger reports a better-than-expected quarterly profit and said it expected improved activity in onshore North American, Middle Eastern and Russian markets next year.
More Than 350 Oil Service Workers Laid Off in Norway Due to Strike
Wednesday, September 28, 2016 More than 350 oil service workers have been laid off in Norway as a result of strike action which was implemented September 21.
PETRONAS Signs Contract with Schlumberger for Campeche Basin Seismic Survey
Friday, September 23, 2016 Schlumberger signs agreement with PETRONAS to license WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico.
Norway Services Strike Affects Schlumberger, Baker Hughes, Halliburton
Wednesday, September 21, 2016 More than 300 oil service employees, all Industri Energi union members, went on strike Wednesday after wage talks broke down with the Norwegian Oil Industry Association.
Oil Servicers Looking For Output Boost In Venezuela, PDVSA Says
Tuesday, September 20, 2016 The world's largest oilfield services providers are making plans to help boost output in Venezuela, according to the president of the country's state-run oil company.
Companies Ink Seismic Research, Development Agreement
Friday, September 02, 2016 BP spokesperson says research and development efforts with Rosneft and Schlumberger could represent breakthrough for high-quality, low-cost cableless seismic.
DMB Reveals Value of Recent Deal with Schlumberger in Saudi Arabia
Wednesday, August 24, 2016 Daya Materials Berhad (DMB) says its unit Daya Maxflo's recent contract with Schlumberger in Saudi Arabia was worth around $9.2 million.
BP To Schlumberger In 'Barroom Brawl' As Oil Drillers Slash Cost
Thursday, August 18, 2016 "Price negotiations have been a barroom brawl," Jeff Miller, Halliburton president, says. "But we believe prices will recover."
One Nook Of America's Shale Industry Is Eyeing A Big Comeback
Thursday, August 04, 2016 Amid the gloom and doom that's set in all along America's shale fields these past two years, there has been one small, but consistent, bright spot.
Schlumberger, TGS Begin 300-Block Gulf of Mexico Data Acquisition Program
Thursday, August 04, 2016 TGS and Schlumberger begin a data acquisition program covering over 300 blocks in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico.
Baker Hughes: North America Recovery Unlikely This Year
Thursday, July 28, 2016 Baker Hughes says it does not expect a substantial recovery in drilling and pricing in North America this year, in contrast with comments from bigger rivals Schlumberger and Halliburton.
Hess Seeks Up to $40M from Schlumberger in Dispute Over Well Valve
Wednesday, July 27, 2016 Hess Corp is pursuing legal action against Schlumberger NV for as much as $40 million, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped p
Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.
Schlumberger Sees Oil Supply Deficit if Demand Growth Holds
Friday, July 22, 2016 Schlumberger, the world's No. 1 oilfield services provider, says it expects a "significant global supply deficit" of crude oil, given the sharp decline in spending on exploration and production.
OneSubsea Bags $300M Contract for Greater Enfield Project Off Australia
Friday, July 15, 2016 OneSubsea bags a $300 million engineering, procurement and construction contract from Woodside for the Greater Enfield Project offshore northwest Australia.
Venezuela's Oil Output Decline Accelerates as Drillers Go Unpaid
Tuesday, June 28, 2016 Venezuela's oil output, already the lowest since 2009, is set to slide further this year as contractors scale back drilling after the cash-strapped country fell more than $1 billion behind in payments.
Venezuela Says Oil At $50 Enough To Avoid PDVSA Default
Friday, June 17, 2016 Crude prices around $50 a barrel are enough for Venezuela's state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino says in an interview.
Aibel Appoints New President, CEO
Tuesday, June 14, 2016 Mads Andersen will take over as the new Aibel President and CEO from January 1, 2017, following Jan Skogseth's decision to retire.
Norway Strike Threat Increases as Parties Fail to Find Agreement
Wednesday, June 08, 2016 The threat of strike action among 6,000 oil service worker employees in Norway increases as unions and energy company representatives fail to settle wage disputes.
Equatorial Guinea Says Schlumberger Walked Away From Fortuna Project
Monday, June 06, 2016 Equatorial Guinea's energy minister says Schlumberger had walked away from the country's Fortuna floating liquefied natural gas (FLNG) project but he also said he was confident it would be successful.
Document: Algeria's Sonatrach Awards $180M in Oil Service Contracts
Sunday, May 08, 2016 Algerian state energy company Sonatrach awards oilfield services firms Schlumberger and Weatherford contracts for cementing and pumping services, according to a Sonatrach document.
Halliburton Joins Schlumberger in Cutting Venezuelan Activity
Friday, May 06, 2016 Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis.
EC225LP Helicopters Grounded in UK, Norway after 13 Killed in Crash
Saturday, April 30, 2016 UK Civil Aviation Authority joins Norway in banning EC225LP helicopter flights, as Statoil confirms that employees from Halliburton, Aker Solutions, Schlumberger, Welltec and Karsten Moholt were on the flight.
Ophir Ends Talks with Schlumberger over Fortuna LNG Project
Friday, April 29, 2016 Ophir Energy has ended talks with Schlumberger over the Fortuna LNG project, after the parties hit stumbling block on terms agreed in January.
Top Oil Service Firms Mull North America Retreat As Losses Mount
Thursday, April 28, 2016 Two of the three largest oil rig operators and frackers are considering pulling back from the North American market as losses mount.
Providence Resources: Druid, Drombeg Prospects Could Hold 5B Barrels of Oil
Friday, April 22, 2016 Providence Resources confirms that the Druid and Drombeg prospects in the southern porcupine basin could hold total cumulative in-place un-risked prospective resources of 5 billion barrels of oil.
Schlumberger Cuts 2,000 More Jobs in Full-Scale Industry Crisis
Thursday, April 21, 2016 Schlumberger cut another 2,000 jobs in the first quarter as the world's largest provider of oilfield services sees the industry in a full-scale crisis.
Schlumberger To Pare Venezuela Services On Lack Of Payments
Wednesday, April 13, 2016 Schlumberger will reduce activity in Venezuela after the world's largest oil services provider failed to collect enough payments from the national oil company.
Halliburton Sued by US Seeking to Block Baker Hughes Deal
Wednesday, April 06, 2016 Halliburton was sued by US antitrust officials who say its planned takeover of rival oil-services firm Baker Hughes threatens competition and should be blocked.
PGS, TGS & Schlumberger WesternGeco to Undertake Seismic Program Off Sabah
Friday, April 01, 2016 A consortium comprising PGS, TGS and Schlumberger WesternGeco will undertake a multiclient seismic program off Sabah, Malaysia.
Device Merges Gas Chromatography, Mass Spectrometry
Friday, March 25, 2016 A new device marries the speed of ballistic gas chromatography with high-pressure mass spectrometry to identify molecules and lower limits.