This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Schlumberger Announces Second-Quarter 2013 Results

During mid-2012, Liquid Robotics and Schlumberger created Liquid Robotics Oil & Gas, a joint venture to develop innovative services for the oil and gas industry using Wave Glider®, the world’s first wave-powered, autonomous marine vehicle. Recently, around the Wheatstone area of Northwest Australia, Wave Gliders equipped with metrology sensors including turbidity were deployed for Chevron to conduct reliable baseline surveys prior to the start of their upstream and downstream dredging operations. A total of 1,424 nautical miles were covered over a 60-day period. Additional time-lapse measurements will be taken during and after the operations to validate environmental compliance. As Wave Glider technology deployments continue to expand, offshore oil and gas operators continue building confidence in their ability to solve some of the industry’s exploration and environmental monitoring challenges.

In North America, Schlumberger pioneered the deployment of bi-fuel or dual fuel technology for the diesel engines used in hydraulic fracturing operations, having implemented the technology in Canada more than two years ago. Bi-fuel operations make it possible for a diesel engine to run on a blend of diesel and natural gas such as compressed natural gas, liquefied natural gas or field gas. On land in the US, Schlumberger has multiple bi-fuel enabled crews deployed across the country as technology development continues with powerplant suppliers to implement optimized solutions for the North American market. Schlumberger completed its 600 th job in June 2013 using bi-fuel technology, and its bi-fuel operations have helped decrease overall fuel costs by 25-40% while lowering environmental impact without compromising safety or engine performance.

Reservoir Characterization Group

Second-quarter revenue of $3.01 billion increased 10% sequentially and grew 11% year-on-year. Pretax operating income of $908 million was 25% higher sequentially, and increased 21% year-on-year. Sequentially, the revenue increase was driven primarily by increased use of Wireline services as a result of strong exploration activity in the US Gulf of Mexico, Brazil, Sub-Saharan Africa and the Middle East. Revenue in Russia and China also grew sequentially following seasonal activity rebounds. WesternGeco revenue increased sequentially from higher multiclient sales ahead of licensing awards in Norway, the seasonal return of marine vessel activity in the North Sea, and higher UniQ* land seismic productivity in Saudi Arabia and Kuwait. SIS revenue increased also from higher product sales and software maintenance in Latin America and Europe/CIS/Africa.

4 of 13

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs