Schlumberger Company News

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Schlumberger Revenues Tumble Under Double Black Swan
Monday, April 20, 2020The 1Q results also include a $8.5B pretax charge, driven by the sharp decline in market valuations.

Halliburton Slashes Spending to Brace for Demand Declines
Monday, April 20, 2020It set 2020 capital outlays at $800 million, 33 percent below previous guidance and the first sub-$1 billion budget since 2016.

Oil Collapse Drags the Whole Service Industry Down With It
Thursday, April 16, 2020Since the start of 2019, the oilfield services sector has lost almost 50,000 jobs, or about 13 percent of its workforce.

Schlumberger To Slash Spending by 30 Percent
Wednesday, March 25, 2020The company expects a rapid reduction in rig count and completions activity in onshore North America.

Schlumberger Opens Saudi Manufacturing Facility
Tuesday, February 25, 2020The well completions technology manufacturing center is located in Saudi Arabia's Eastern Province.

Schlumberger Unit and Subsea 7 Win Pioneering Brazil Contract
Friday, January 31, 2020Offshore installation for Brazil's first integrated SPS and SURF project could start in two years. IMAGE SOURCE: Equinor

US Shale Suffering From Sustained Contraction
Tuesday, January 21, 2020Slower output growth would have global ramifications, given additional US barrels are forecast to account for most of the increase in 2020 worldwide supply.

Schlumberger Posts $10B Loss in 2019
Friday, January 17, 2020Schlumberger posted a $10.1 billion loss in 2019 amid North America land market weaknesses.

Is Chevron's $11B Write-Down an Oilpatch Warning?
Tuesday, January 14, 2020Current market conditions are resulting in many US fracking projects failing to break even.

Oxy Elects Former Schlumberger CEO to Board
Thursday, January 02, 2020Occidental Petroleum Corporation announced the election of former Schlumberger Ltd. CEO Andrew Gould to its board of directors.

Oilfield Services Looking Beyond Oil and Gas
Monday, December 23, 2019As the majors have diversified into power and renewable energy storage, oilfield service contractors have followed suit.

Schlumberger Unit Wins Anchor Subsea Contract
Friday, December 13, 2019OneSubsea will provide a subsea production system rated up to 20,000 psi. IMAGE SOURCE: Schlumberger

Schlumberger Unit Wins Shell Subsea Contract
Thursday, October 31, 2019Schlumberger reported Thursday that its OneSubsea division has won an integrated subsea compression frame agreement from A/S Norske Shell. IMAGE SOURCE: A/S Norske Shell

Schlumberger Reassessing North America Land Strategy
Monday, October 21, 2019The strategic review of its US land market business is on the heels of weak regional performance during 3Q.

Schlumberger Rips Off Band-Aid With $12.7B Writedown
Friday, October 18, 2019Wall Street guessed that writedowns from Schlumberger were coming, but some analysts were taken aback by the sheer size of the $12.7B in pretax charges reported.

Oilfield Services Eyeing Survival Tactics in Weak US Market
Friday, October 11, 2019Contraction of oil and gas E&P means the return of lean times for oilfield services companies.

Guyana Nears Oil and Gas Turning Point
Tuesday, October 08, 2019One of RAMPS Logistics' employees in Guyana. PHOTO SOURCE: RAMPS Logistics

Sudan Urges Foreign Oil Firms to Increase Investment
Monday, September 23, 2019Sudan's newly appointed oil minister urged international energy companies to ramp up efforts to find and develop deposits in a country struggling to recover from U.S. sanctions and a plunge in petroleum revenue.

Survey Reveals World's Top Oilfield Services Companies
Thursday, September 05, 2019Respondents to Rigzone's Ideal Employer Survey selected their top picks for oilfield services companies.

Half of Venezuela's Oil Rigs May Shut Down If US Waivers Lapse
Friday, August 23, 2019A looming U.S. sanctions deadline is threatening to clobber Venezuela's dwindling oil-rig fleet and hamper energy production in the nation with the world's largest crude reserves.

Top 10 Ideal Downstream Employers for 2019
Thursday, August 22, 2019Here is a breakdown of the 10 highest-scoring downstream employers in Rigzone's 2019 Ideal Employer Survey.

Survey Reveals Top 10 Ideal Upstream Employers for 2019
Wednesday, August 14, 2019More than 11,000 survey participants selected their favorite upstream employers.

Top Apps to Have in Oil and Gas
Friday, August 09, 2019Here are some popular apps that can make it easier to follow the pulse of the industry.

Schlumberger Increases Profits, Names CEO
Friday, July 19, 2019Schlumberger reports its second quarter earnings and names its new CEO. PHOTO SOURCE: Schlumberger

Cost Overruns Threaten Offshore Development
Monday, July 01, 2019Even with funding based on a thorough engineering definition, operators could still see a cumulative $111-billion cost overrun.

Oilfield Services' Pricing Power is Rising
Thursday, June 20, 2019After several years of gloom, oilfield services companies are now able to raise prices for their products and services, according to energy research firm Rystad Energy.

Schlumberger Alum to Lead KCA Deutag
Monday, June 10, 2019Joseph Elkhoury will succeed Norrie McKay at KCA Deutag.

Schlumberger Looks Overseas for Offshore, Exploration Growth
Thursday, April 18, 2019The company sees growth in the shallow-water markets, followed by an expansion in deepwater spend in 2020.

Schlumberger and Halliburton's Fortunes May Be Improving
Wednesday, April 17, 2019The number of frac crews working in US shale basins hit a new record earlier this month.

Schlumberger May Choose Current COO as Next CEO
Tuesday, April 16, 2019Schlumberger Ltd.'s board is leaning toward picking Chief Operating Officer Olivier Le Peuch to become its next chief executive officer, according to a person familiar with the matter.

Shale's Growing Pains Could Curb US Oil Production
Tuesday, March 26, 2019The dramatic ramp-up in U.S. shale production is running into a combination of issues that threaten to slow the pace of expansion.

Drillers Turning to Big Data in the Hunt for Cheaper Oil
Wednesday, March 20, 2019The industry is creating new business opportunities for IT, artificial intelligence, big data processing and analytics providers.

Schlumberger and Rockwell Create Digital Oilfield Solution
Wednesday, February 20, 2019Schlumberger and Rockwell Automation are teaming up to create a fully integrated digital oilfield automation solutions provider for the oil and gas industry.

Schlumberger Board Names COO
Friday, February 08, 2019Olivier Le Peuch takes the COO role immediately.

Offshore Australia Project Marks Step-Change
Wednesday, January 16, 2019Subsea 7 and Schlumberger's OneSubsea will deliver a new subsea flowline to an existing natural gas pipeline. PHOTO SOURCE: Subsea Integration Alliance

States Look to Block Seismic Surveys in Atlantic
Thursday, December 20, 2018Attorneys general from 9 coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters.

ExxonMobil and BHP Greenlight Offshore Australia Project
Thursday, December 13, 2018The project will develop one of the largest remaining sweet gas reservoirs in Australia's Bass Strait through a two-well brownfield tieback.

Schlumberger's Year-End Frack Forecast is a Lump of Coal
Tuesday, December 04, 2018Schlumberger believes the North American fracking market - already expected to be a downer for the holidays - is turning out to be even worse than expected.

Trump Admin to Advance Seismic Surveys in Atlantic
Friday, November 30, 2018The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters.

Ex-Schlumberger Chief to Acquire Biggest Shale Pipe Servicer
Friday, October 19, 2018Sentinel plans to acquire Strike LLC and take the dominant US pipeline services company public.

It Takes an Army: Women in Oil, Gas Encouraged to Mentor Others in Industry
Wednesday, September 05, 2018Oil and gas companies and industry professionals are taking an active approach to getting more women interested in STEM and helping them feel comfortable working in a male-dominated field.

Schlumberger CEO Warns Transport Constraints To Slow Shale Gains
Tuesday, September 04, 2018Schlumberger CEO warns that bottlenecks in the largest US shale basin would slow oil production growth and investments in the region.

Schlumberger Appoints Shale Innovator Mark Papa to Board
Monday, August 06, 2018Schlumberger appointed shale pioneer Mark Papa and energy researcher Tatiana Mitrova to its board of directors, according to a filing with the U.S. Securities and Exchange Commission.

Schlumberger, Baker Hughes Set Sights on 'Healthy' 2H
Friday, July 20, 2018Schlumberger and Baker Hughes have their sights set in different directions as they move into the second-half of 2018.

Equinor Hands $3.7B Deals To Schlumberger, Halliburton, Baker Hughes
Monday, June 18, 2018Equinor has awarded drilling and well service contracts worth 30 billion Norwegian crowns ($3.68 billion).

An Upstream Comeback with Less Splash but More Cash?
Friday, May 11, 2018Capital 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, 2018The 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, 2018The 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, 2018Egypt 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, 2018Halliburton Co. isn't content to limit its battle for market share with Schlumberger Ltd. to the oil field these days.