42nd Annual Howard Weil Energy Conference Paal Kibsgaard Chief Executive Officer New Orleans, March 24, 2014
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Thank you and good morning ladies and gentlemen. Let me start by thanking Howard Weil and Bill Sanchez in particular for the invitation to speak here today. In my talk, I…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Starting off with the current industry challenges, let us first look at a few numbers that summarize the situation. Over the past 10 years, total E&P capex spend has grown by…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard So how do we address this problem as an industry In the E&P value chain, the oil companies are the ultimate integrators of all the technical work associated with finding…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Our first transformation program is focused on technology innovation and development and was already launched in 2008. The goal of the program is firstly; to increase the…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Today, there are in general, too many individual suppliers involved in our customers workflows which adds unnecessary complexity in terms of establishing the optimal technical…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Technology has been a core value for Schlumberger since the creation of the company over 87 years ago, and we have continuously reinvested a significant part of our profits…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard This transformation process which started in 2008 has had the following focus areas: First, to increase the rate of innovation by taking a broader approach to fundamental…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard The scope of this R&E re-organization and transformation has been monumental and one of the largest change management challenges we have undertaken as a company. And the…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard The first area is IP, where we have significantly ramped up our rate of patent filings in the past six years, in particular in the areas of Drilling and Production and over…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard The Stinger cutter, which is a revolutionary conical-shaped diamond cutter, was a key part of the NovaDrill acquisition in 2010 and is an example of innovation through…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard The MicroScope imaging-while-drilling service, which provides a range of unmatched formation evaluation measurements, is an example of how we are significantly improving the…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Another example is the PowerDrive family of rotary steerable tools which has now been in service for 16 years and has drilled more than one-hundred-and-thirty-five million…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Although it is still early innings, the technology transformation has already had an impact on the Drilling Group financial performance. With a compounded annual growth rate…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Lets then turn to the financial performance of the oilfield services industry. The first statement that can be made is that the pressure on profitability and cash flow now…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard In terms of operating income and earnings per share, Schlumberger has also posted consistent double- digit growth over the past two years, while in comparison, our competitors…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Another aspect of our financial performance is our ability to generate free cash flow, driven by continuous improvements in operational efficiency. Despite solid growth in…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Let us then turn to the market and how it is evolving so far in 2014. In spite of continued concerns relating to some of the emerging markets the global economy is likely to…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard In the natural gas markets, the past few months have been dominated by a strong rally in US spot prices, driven by extreme weather conditions, pushing gas demand and storage…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Based on this macro situation and what we have seen in the first two months of this year, we maintain our positive view on 2014 where we expect well-related capex to grow more…
42nd Annual Howard Weil Energy Conference Paal Kibsgaard Ladies and gentlemen, in closing let me leave you with the following points. Rising cost levels limited growth in global oil production and range-bound oil prices is putting…
Schlumberger Limited For more information, contact Simon Farrant Vice President of Investor Relations Joy V. Domingo Manager of Investor Relations Office +1 (713) 375-3535 investor-relationsslb.com http://investorcenter.slb.com
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