Schlumberger CEO: Outlook For Oil Service Industry 'Very Positive'
21 Outubro 2011 - 12:44PM
Dow Jones News
Schlumberger Ltd. (SLB) said Friday it expects international
demand for its oil services to continue growing amid increases in
Latin America and Libyan oil production.
Despite the uncertainty surrounding global financial markets,
oil consumption will stay positive as oil companies try to increase
their reserves and new production fields are developed, said Andrew
Gould, chairman of the Schlumberger board of directors. "Absent a
deep cut in global oil demand, there's no reason to suppose that
international activity will not remain robust," Gould said during a
call with investors. "So far the signs of a demand drop are not
particularly powerful."
Despite the optimism, Schlumberger, the world's largest
oil-field services company, reported on Friday a profit of $1.3
billion, or 96 cents a share, down from $1.73 billion, or $1.34 a
share, a year earlier. The latest period included a 2 cent
per-share charge related to merger and integration costs. Analysts
polled by Thomson Reuters had forecast earnings of $1.01 a
share.
The sales of services to Latin America continue to grow, with
Schlumberger expecting to have 64 offshore rigs in Brazil by the
end of this year. The company also continues to send offshore rigs
to Mexico and provide technology for shale rock formation drilling
in Argentina.
In the Middle East, Schlumberger said drilling activity will
resume in Libya in the fourth quarter after a civil war that broke
out there earlier this year succeeded in toppling leader Moammar
Gadhafi Thursday. The interruption cost Schlumberger 1 cent a share
in third quarter earnings, company chief executive Paal Kibsgaard
said.
In North America, Schlumberger expects strong growth in Canada
and the Gulf of Mexico. Oil production in shale basins has
increased to the point where Schlumberger has moved to 24-hour
operations from 12 hours operations in the previous quarter,
Kibsgaard said.
"While financial turmoil introduces some uncertainty, it has yet
to have an impact on actual activity of our customers," Kibsgaard
said.
-By Ben Lefebvre, Dow Jones Newswires; 713-547-9201;
ben.lefebvre@dowjones.com
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