Schlumberger's revenue is the ranked 4th among it's top 10 competitors. 6) What was the effective tax rate (ETR) for the second quarter of 2019? It was $228 million at the end of the first quarter of 2019. Premium content requires special account permissions. UNITED KINGDOM, Upstream oil and gas news for exploration and production professionals, © Copyright 2020 energy 365 Limited. How many shares of common stock were outstanding as of December 31, 2019 and how did this change from the end of the previous quarter? This full-year and fourth-quarter 2019 earnings release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts, such as our forecasts or expectations regarding business outlook; growth for Schlumberger as a whole and for each of its segments (and for specified products or geographic areas within each segment); oil and natural gas demand and production growth; oil and natural gas prices; improvements in operating procedures and technology, including our transformation program; capital expenditures by Schlumberger and the oil and gas industry; the business strategies of Schlumberger and Schlumberger’s customers; our effective tax rate; Schlumberger’s APS projects, joint ventures and alliances; Schlumberger’s greenhouse gas emissions targets and progress against those targets; future global economic and geopolitical conditions; and future results of operations. Schlumberger on Jan 17 reported results for full-year 2019 and the fourth quarter of 2019. “Free cash flow” represents cash flow from operations less capital expenditures, APS investments and multiclient seismic data costs capitalized. Growth was primarily driven by increased drilling activity offshore Australia and Indonesia as well as by the seasonal recovery in China. This quarter delivered the first sequential growth in international margin in any fourth quarter since 2014. “I’m very pleased with our operational and financial results as we closed 2019, and I’m encouraged by the sustained international activity growth, although conditions in North America land became more challenging. Free cash flow for the second quarter of 2019 was $0.5 billion. The change in the unamortized balance of Schlumberger’s investment in APS projects was as follows: What was the amount of WesternGeco multiclient sales in the fourth quarter of 2019? Annual Revenue ( $ ) Schlumberger revenue was $32.92 b in FY, 2019 which is a (0.3%) year over year increase from the previous period. 'Production revenue declined 9% sequentially primarily due to the 33% sequential drop in OneStim revenue as we continued to right-size our hydraulic fracturing capacity by stacking more fleets in the face of lower demand. As these charges were largely noncash and primarily related to goodwill, intangible assets, and fixed assets, they did not impede our ability to generate strong cash flow as we demonstrated in the second half of the year. The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Schlumberger warned in early December that fourth-quarter North America revenues would take a hit due to steeper-than-anticipated declines in the hydraulic fracturing market. Higher revenue in the Sub-Sahara Africa and North Africa GeoMarkets from new project startups also helped mitigate the seasonal decline of activity in the Northern Hemisphere. SPM revenue along with the amortization of the capitalized investments and other operating costs incurred in the period are reflected within the Production segment. We are therefore confident we have turned the corner, particularly as we have now seen sequential international margin growth for the last three quarters as a result of our discipline and focus on execution performance. Joy V. Domingo – Director of Investor Relations, Schlumberger Limited Schlumberger CEO Olivier Le Peuch commented, “Full-year revenue for 2019 was $32.9 billion, a level essentially flat with 2018. Advanced imaging technologies, including full waveform inversion, will be used to derive the high-resolution velocity and anisotropy models needed to characterize these deepwater basins. London Colney Fourth-quarter revenue of $8.2 billion decreased 4% sequentially. In addition, international contract awards and the deployment of innovative artificial lift and completions technologies helped maximize production in horizontal wells and improve recovery in low-productivity zones. A replay of the webcast will also be available at the same web site until August 19, 2019. “During the second quarter, sequential international growth was led by the Europe/CIS/Africa area, where revenue increased sequentially by 11% driven by activity that strengthened beyond the seasonal recovery in the Russia & Central Asia and United Kingdom & Continental Europe GeoMarkets. In addition to the non-GAAP financial measures discussed above under “Liquidity”, net income (loss), excluding charges & credits, as well as measures derived from it (including diluted EPS, excluding charges & credits; Schlumberger net income (loss), excluding charges & credits; and effective tax rate, excluding charges & credits) are non-GAAP financial measures. Drilling and Reservoir Characterization revenue each decreased 1% sequentially due to the end of summer campaigns in the North Sea and Russia. These statements are subject to risks and uncertainties, including, but not limited to, global economic conditions; changes in exploration and production spending by Schlumberger’s customers and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; foreign currency risk; pricing pressure; weather and seasonal factors; operational modifications, delays or cancellations; production declines; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services and climate-related initiatives; the inability of technology to meet new challenges in exploration; and other risks and uncertainties detailed in this full-year and fourth-quarter 2019 earnings release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission.
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