Lufkin, headquartered in Missouri ... Related News /// What was the WesternGeco backlog at the end of the second quarter of 2020? What was included in “Interest and other income” for the second quarter of 2020? Under the MOU, Honghua will manufacture and sell rigs that have plug-and-play capability with the DrillOps solution, which integrates planning and operations while automating well construction tasks in order for the rig to operate at peak performance throughout the execution of the drilling plan. View real-time stock prices and stock quotes for a full financial overview. Schlumberger Ltd. published this content on 20 November 2020 and is solely responsible for the information contained therein. What is the capital investment guidance for the full year 2020? Updated: 16/10/2020, 1:19 pm. First oil is scheduled for delivery in late 2021. We are permanently removing $1.5 billion of structural costs annually by reorganizing Schlumberger into a leaner and more responsive company that is better aligned with our customers’ workflows. 9/1/2020 The GAIA* digital subsurface platform enables customers to securely and instantly access multidomain, evergreen E&P data as a subscription from a growing number of content providers. - Schlumberger, IBM and Red Hat, announced today a collaboration to accelerate digital transformation across the oil and gas industry. Kuwait Oil Company awarded Schlumberger a five-year contract with an optional one-year extension valued at USD 320 million for the provision of coiled tubing and stimulation services. It was $282 million at the end of the first quarter of 2020. Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in … Distributed by Public, unedited and unaltered, on 01 December 2020 14:06:04 UTC “Net Debt” represents gross debt less cash, short-term investments, and fixed income investments, held to maturity. How did interest income and interest expense change during the second quarter of 2020? The project consists of four deepwater wells and a 19-km tieback system to a newly built platform—the Lufeng 15-1—which will act as a central production and processing facility for the Lufeng development project. Net income attributable to noncontrolling interests, Net income (loss) attributable to Schlumberger, Diluted earnings (loss) per share of Schlumberger, Average shares outstanding assuming dilution, Depreciation & amortization included in expenses, Short-term borrowings and current portion of long-term debt, Net income (loss) before noncontrolling interests, Business acquisitions and investments, net of cash acquired plus debt assumed, Costs associated with exiting certain activities, Schlumberger net income, excluding charges & credits, North America pressure pumping impairment, Shares issued under employee stock purchase plan, Average shares outstanding, assuming dilution, Amortization of multiclient seismic data costs capitalized, Worldwide revenue of $5.4 billion decreased 28% sequentially, International revenue of $4.1 billion decreased 19% sequentially, North America revenue of $1.2 billion decreased 48% sequentially, GAAP loss per share, including charges and credits of $2.52 per share, was $2.47, EPS, excluding charges and credits, was $0.05, Cash flow from operations was $803 million and free cash flow was $465 million, Board approved quarterly cash dividend of $0.125 per share. How many shares of common stock were outstanding as of June 30, 2020 and how did this change from the end of the previous quarter? The Schlumberger layoff news … The increasing number of horizontal wells undertaken by CNPC each year has made the differentiated technology of the ThruBit services platform essential to their reservoir evaluation strategy. Free cash flow for the second quarter of 2020 was $465 million, despite making $370 million of severance payments during the quarter. Prompt cost reduction measures through headcount rationalization, furloughs, and lower manufacturing costs contributed to the international margin expansion. In addition, significant progress was also made in improving the results of previously underperforming business units and digital technology adoption has increased. The approach will use a combination of automated, traditional domain workflows and workflows driven by machine learning and AI to rapidly provide insights into development strategies for optimizing production across the life cycle of the assets. Drilling & Measurements and M-I SWACO accounted for most of the margin decline and experienced the largest drop in activity due to their sizeable footprint in North America land.

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