Service & Supply | Deals - Joint Ventures | Top Story | Oilfield Services
Schlumberger Unveils New Strategy to Grow Frac Market Share
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Schlumberger has begun to diversify its operating strategy, striking JV deals where it will cover an operator's drilling cost in return for a stake in E&P drilling projects.
Entering into these types of deals allows Schlumberger to effectively guarantee its selection as the service provider for the project, increasing its overall market share (the company is second only to Halliburton). This strategy enables the company to expand demand for its services in addition to business it already receives via traditional contracts.
Schlumberger started this trend back in 2013, when it inked a 50/50 JV with the now defunct Forest Oil on its Eagle Ford property in Gonzales County, Texas.
Recent JV with YPFMore recently, the service giant struck a similar deal with Argentina's YPF in April 2017. The…
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