Service & Supply | Quarterly / Earnings Reports | Oilfield Services | First Quarter (1Q) Update | Drilling Activity
Schlumberger IDs Q1 Revenues of $6.9B; Talks OneStim JV, Drilling Activity
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Schlumberger reported results for the first quarter of 2017.
Highlights: Revenue of $6.9 billion decreased 3% sequentially GAAP EPS, including Cameron integration charges of $0.05 per share, was $0.20 EPS, excluding Cameron integration charges, was $0.25 Cash flow from operations was $656 million Quarterly cash dividend of $0.50 per share was approvedDuring the quarter, Schlumberger repurchased 4.7 million shares of its common stock at an average price of $78.97 per share for a total purchase price of $372 million.
On March 24, 2017, Schlumberger and Weatherford announced an agreement to create OneStimSM, a joint venture to deliver completions products and services for the development of unconventional resource plays in land markets in the United States and Canada. The joint…
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