Company information: Industry/Area of Activity: Oil Equipment, Services & Distribution Company Stock Ticker: SLB Stock traded at: NYSE Industry Code: 573 About Schlumberger Ltd.: Schlumberger is a large oilfield services company. 13) What was the book-to-bill ratio for Cameron’s long-cycle businesses? Don't have an account? If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. We continue to be opportunistic in accessing the financial markets, systematically refinancing and spacing out future debt maturities, and taking proactive measures to enhance our liquidity position. In June, Schlumberger repurchased $1.5 billion of its outstanding notes, consisting of $935 million of its 3.300% Notes due 2021 and all $600 million of … Revenue in the North Middle East and Saudi Arabia & Bahrain GeoMarkets declined less due to new projects. The Nigerian Department of Petroleum Resources (DPR) signed an agreement for the provision of a Schlumberger virtual data room in support of the first-ever virtual marginal fields bid round to be held this year. Employee termination are expected to be permanent. BP is now considering conducting all future FITs remotely, which would result in significant cost savings related to travel and further reduce operational risk. Schlumberger, along with most other oil companies, is in the process of trying to cut costs to help deal with the economic downturn brought on by the Coronavirus. Layoffs by Schlumberger are hitting Oklahoma. 2) What were the cash flow from operations and free cash flow for the second quarter of 2020? Drilling pretax operating margin of 10% contracted by 289 bps sequentially, posting a 21% decremental operating margin. “Our employees and contractors have shown outstanding adaptability to the new working environment with up to 55,000 of our people working remotely to maintain business continuity. The packages will be delivered in 2022 and include NATCO DUAL FREQUENCY* electrostatic treaters, CYNARA* acid gas removal membrane systems, VORTOIL* deoiling hydrocyclones, and EPCON Dual* compact flotation units. WesternGeco® revenue declined as a project was completed in the Middle East, while Software Integrated Solutions (SIS) revenue declined slightly as well. That facility was slated to lay off its employees in June and July. The components of depreciation and amortization expense for the second quarter of 2020 and first quarter of 2020 were as follows: 11) What was the amount of WesternGeco multiclient sales in the second quarter of 2020? Chevron has chosen to conduct layoffs to try … Statements in this second-quarter 2020 earnings release are made as of July 24, 2020, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise. APS investments will be about $300 million in 2020 as compared to $781 million in 2019. Revenue in the Middle East, Russia, Europe, and Asia proved more resilient as these regions, when combined, declined 10% sequentially. As part of this technology access agreement, Schlumberger will support CPL on the manufacturing and sustaining activities for ThruBit* through-the-bit logging services technology at the CPL technology center in Xi’an, Shaanxi province. No comments. Repsol announced a significant discovery just days after the survey. All Rights Reserved. ‘You’re with your offshore family instead’ – what’s it like spending Christmas day at sea? To access the call, which is open to the public, please contact the conference call operator at +1 (844) 721-7241 within North America, or +1 (409) 207-6955 outside North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 4013483. The margin contraction was primarily in North America, while international margin was resilient and flat sequentially. Meanwhile, OneSubsea® revenue was resilient, only declining slightly with international revenue growing sequentially, but offset by a decline in North America. How Schlumberger will cut $ 1.5B in costs Every year - June … Schlumberger 21,000! Certain aps projects in Latin America between Schlumberger ’ s investment in aps projects in Latin America off work! In late 2021 1.1 billion, 75 % of which came from the international markets, decreased %... 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