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Schlumberger Announces Second-Quarter 2013 Results

Stocks in this article: SLB

Pretax operating margin of 30.1% increased 380 bps sequentially on strong, high-margin WesternGeco multiclient sales and robust Wireline deepwater activity.

A number of technology highlights across the Reservoir Characterization Group contributed to the second-quarter results.

In the North Sea, WesternGeco has begun acquisition of two complex 4D surveys for BP using DISCover* broadband deep interpolated streamer technology, the first time the technology has been used in the North Sea. The surveys, which cover approximately 740 km2 over the Magnus, Foinaven, Schiehallion, and Loyal fields, involve undershooting obstructions and considerable simultaneous operations.

WesternGeco has begun acquisition on the new Four Point 3D broadband multiclient survey in the DeSoto Canyon, Mississippi Canyon and Lloyd Ridge areas of the eastern US Gulf of Mexico. The narrow-azimuth survey covers approximately 400 Outer Continental Shelf (OCS) blocks over 9,600 km2, and uses ObliQ* sliding-notch broadband technology to optimize the recorded bandwidth of the seismic signal. Data processing will include full waveform inversion and tilted transverse isotropic imaging.

WesternGeco has been awarded a contract by RWE Dea Norge AS for the acquisition of approximately 1,250 km2 of broadband seismic data over their new APA 2012 license in the Norwegian Sea. This will be the first third-party proprietary survey offshore Norway using the ObliQ sliding-notch broadband acquisition and imaging technique. Q-Marine Solid* streamers and Delta* calibrated marine broadband sources will also be used with the objective of enhancing resolution and improving the fault definition in the Tertiary, Cretaceous and Jurassic sections where existing data quality is poor.

WesternGeco has been awarded a multiyear contract by Shell Canada Limited for acquisition and processing of a 12,000-km2 3D wide-azimuth survey offshore Nova Scotia, the first wide-azimuth survey acquired offshore Canada and the largest seismic program in Nova Scotia history. The survey is over Shell’s new exploration licenses in the Shelburne basin, approximately 275 km south of Halifax, and will be conducted by the WG Magellan and WG Cook using Q-Marine Solid streamer technology and is supported by two dedicated source vessels Geco Tau and Ocean Odyssey. The survey commenced in June 2013, with further data to be acquired in 2014.

In the UK sector of the North Sea, Wireline Saturn* 3D Radial Probe technology was deployed for EnQuest to obtain high quality viscous oil samples in shallow unconsolidated formations. The larger flow area offered by the Saturn elliptical probe design also led to improvements in operational efficiency, enabling the operator to save up to 75% in fluid sampling time compared with conventional sampling methods.

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