Schlumberger Looks Overseas for Recovery Amid Shale Challenges

Schlumberger Ltd. said parts of its international business are finally starting to recover, but the world’s biggest oil services giant warned that spending by U.S. shale producers will continue to shrink in 2019.

American fracking faces “another challenging year,” the Paris and Houston-based company said Thursday. Elsewhere in the world, it sees growth in the shallow-water markets, followed by an expansion in deepwater expenditure in 2020.

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