Schlumberger Profit Beats Estimates

Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America.

The international business has been a bright spot for the world’s largest oilfield services provider since last year as investor pressure to improve returns has forced North American oil and gas producers to rein in drilling new wells in a volatile price environment.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.