{"id":1306,"date":"2017-10-24T17:29:50","date_gmt":"2017-10-24T17:29:50","guid":{"rendered":"http:\/\/madaresharghi.com\/schlumberger-warns-of-moderating-north-america-drilling-investment\/"},"modified":"2017-10-24T17:29:50","modified_gmt":"2017-10-24T17:29:50","slug":"schlumberger-warns-of-moderating-north-america-drilling-investment","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/schlumberger-warns-of-moderating-north-america-drilling-investment\/","title":{"rendered":"Schlumberger Warns of Moderating North America Drilling Investment"},"content":{"rendered":"

madaresharghi<\/a>
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\tSchlumberger reported on Friday a higher net profit for the third quarter driven by North America\u2019s onshore activities, but the world\u2019s largest oilfield services group now warns that investment appetite in North America is moderating as drillers focus on financial returns instead of volume.
\tSchlumberger\u2019s diluted earnings per share\u2014excluding integration charges\u2014came in at $0.42 in the third quarter, up by 20% on the quarter and up by 68% compared to Q3 2016. Schlumberger\u2019s EPS this past quarter is exactly in line with the analyst consensus of $0.42, Oil Price reported.
\tRevenues rose by 6% sequentially to $7.905 billion\u2014a couple of million above the analyst forecast of $7.903 billion\u2014with North America revenue jumping 18% and international revenues basically flat compared to Q2. In North America, Schlumberger\u2019s revenue increase was due to \u201cthe nearly complete redeployment of our hydraulic fracturing capacity on land as robust fracturing activity continued during the third quarter,\u201d the group said.
\tFracking activity was partially offset by Hurricane Harvey and activity weakness in the Gulf of Mexico.
\t\u201cNorth America land revenue experienced a 23% sequential growth, driven by 42% revenue growth in hydraulic fracturing on increased fleet redeployment, market share gains and improved pricing,\u201d Schlumberger said. But the oilfield services giant cautioned about the North American activity in the coming quarters, with Chairman and CEO Paal Kibsgaard saying that \u201cthe investment appetite in North America land now seems to be moderating, driven by a growing focus from E&P companies on financial return and the need to operate within cash flow rather than the pursuit of production growth.\u201d
\tAccording to Kibsgaard, a moderating North American investment, the possibility that OPEC will extend the cuts further, unprecedented low levels of investment outside of North America, OPEC and Russia, and a returning geopolitical risk premium in the oil market, all point to a more optimistic view of the industry. Following the results release, Schlumberger\u2019s shares ticked up in pre-market trade on the NYSE, but fell later in the afternoon to hit $62.34.<\/p>\n","protected":false},"excerpt":{"rendered":"

madaresharghi Schlumberger reported on Friday a higher net profit for the third quarter driven by North America\u2019s onshore activities, but the world\u2019s largest oilfield services group now warns that investment appetite in North America is moderating as drillers focus on financial returns instead of volume. Schlumberger\u2019s diluted earnings per share\u2014excluding integration charges\u2014came in at $0.42 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[639],"yoast_head":"\nSchlumberger Warns of Moderating North America Drilling Investment - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/schlumberger-warns-of-moderating-north-america-drilling-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Schlumberger Warns of Moderating North America Drilling Investment - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Schlumberger reported on Friday a higher net profit for the third quarter driven by North America\u2019s onshore activities, but the world\u2019s largest oilfield services group now warns that investment appetite in North America is moderating as drillers focus on financial returns instead of volume. 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