Positive Developments in SPM Business Highlight Schlumberger's 3Q Results
Schlumberger reported third-quarter results that were roughly in line with our expectations. Our $68 fair value estimate is unchanged for now.North America revenue grew a robust 18% on the back of quickly recovering U.S. shale activity and expenditure levels. International revenue, meanwhile, was flat and thus slightly below our expectation of modest growth, chiefly due to the conclusion of large drilling contracts in Iraq and Mexico. These contracts will resume early next year and, combined wi...
Schlumberger provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The company has four segments: Reservoir Characterization, which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells; Production, which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs; and Cameron, which consists of the principal technologies involved in pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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