The world’s largest oil fields service company Schlumberger reported mixed Q2 earnings Friday with revenue lower due to the delay of projects. North American revenue jumped 43% to $3.14 billion as U.S. oil production surges to record levels.
The world’s largest oil fields service company Schlumberger reported mixed Q2 earnings Friday with revenue lower due to the delay of projects. North American revenue jumped 43% to $3.14 billion as U.S. oil production surges to record levels
Schlumberger Automated Drilling Positioning Itself in energy markets
Earnings:
EPS of 43 cents on revenue of $8.3 billion matcing the forecast 43 cents but revenue lower than the expected $8.34 billion. Land revenue was driven by market share gains and operational efficiency improvements as pricing remained flat, and offshore activity began to recover.
Schlumberger Limited. NYSE: $SLB
Market Reaction >Pre-market 67.30 +0.38 (+0.57%)
Segment Highlights
- North American revenue jumped 43% to $3.14 billion.
- Middle East and Asia revenue edged up 1% to $2.37 billion.
- Europe and Africa revenue rose 2% to $1.78 billion.
- Latin America revenue fell 12% to $919 million.
Segments
Drilling Group Production Group Reservoir Characterization Group Cameron Group:
- Note that comeptitor Halliburton $HAL will be reporting its second-quarter results on July 23.
Source: SLB, AlphaStrret
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