Oil services giant Schlumberger has laid off 2000 employees as the company reports one of its steepest revenue declines since the downturn began, citing global activity decline and disruption that has reached unprecedented levels. Image…
Oil Services giant Schlumberger has completed its US$14.8 billion merger with rival Cameron International, less than a year after the deal was proposed. Schlumberger CEO Paal Kobsgaard, image from Schlumberger…
The Chinese Ministry of Commerce (MOFCOM) has cleared Schlumberger and Cameron's proposed US$14.8 billion merger without any conditions. This approval from China's antitrust regulator, MOFCOM, represents the last major hurdle towards closing the deal…
Schlumberger has received approval from the European Commission (EU) for the US$14.8 billion takeover of Cameron International, after the EU concluded that the proposed acquisition would raise no competition concerns. Schlumberger…
Oilfield services giant Schlumberger has inked its second floating LNG-related deal within a space of days - this time taking a stake in a development project. After inking a memorandum of understanding with LNG carrier and floating LNG firm Golar LNG late last week…
Golar LNG signed a memorandum of understanding (MOU) with Schlumberger to co-operate on the global development of greenfield, brownfield and stranded gas reserves. Under the MOU, Golar and Schlumberger have agreed to jointly market gas monetization solutions to owners…
Oil services giant Schlumberger posted more than a US$1 billion loss in its Q4 and full year 2015 results, in addition to a further 10,000 job cuts, bringing its workforce reduction to some 30,000 for the year. Kibsgaard…
Schlumberger and Statoil Gulf of Mexico signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. The license also includes collaboration with WesternGeco in the seismic processing phase…
Cameron stockholders voted to approve the merger agreement between the equipment manufacturer and Schlumberger today (December 18) at a special meeting. In late August, oilfield services giant Schlumberger announced it would acquire Cameron in a deal worth US$14…
Houston-based Schlumberger will issue five tranches of senior notes worth US$6 billion to help fund its pending $14.8 billion mega merger with Cameron International. Image from Schlumberger. Last week on 10 December…
Schlumberger has decided to “right size” its organization with another round of job cuts this quarter that will see the oil services giant incur an estimated restructuring charge of about US$350 million. Schorn…
The US Department of Justice (DOJ) has cleared the proposed multi-billion dollar merger between Schlumberger and Cameron International without any conditions, both companies announced in a joint statement on Wednesday (18 November). The…
Schlumberger is at it again with another acquisition, this time of US-based Fluid Inclusion Technologies (FIT), which specializes in laboratory analysis of trapped fluids in rock material, and advanced borehole gas analysis on drilling wells…
Oil services giant Schlumberger revealed its revenue took a 33% plunge in 3Q 2015 with revenue hitting almost US$8.5 billion for the period, citing a decline in rig activity and pricing pressure as the reasons. The results are causing the…
Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities. The…
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