Cowen Investor Presentation December 3, 2013 Patrick Schorn Thank you and good morning ladies and gentlemen. I would like to start, by thanking Cowen and Company and James Crandell in particular for the invitation to speak at this…
Cowen Investor Presentation December 3, 2013 Patrick Schorn But before we start, I would like to point out that some of the following statements are forward- looking. Actual results may differ. Please see our latest SEC filings.…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Schlumberger currently operates in over 85 countries, many of which we have been present in for over 70 years. Throughout this time, we have invested continuously in…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Now turning to the financials. In terms of our market cap, today we are bigger than the sum of our three main competitors by a wide margin. Profitability remains a core…
Cowen Investor Presentation December 3, 2013 Patrick Schorn In 2011 our global margin lead versus the average of our three main competitors was 270 basis points. Focused execution in a challenging environment has now enabled us to…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Our strong margins are driven by the international market, where our lead is now around 10 percentage points, but also by our resilient margins in North America, where we…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Finally, we have maintained a solid track record of generating significant free cash-flow from our operations, which enables us to consistently return cash to our…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Another key aspect of our size advantage is the breadth of our technology offering, which today includes 15 product lines and almost every aspect of the exploration,…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Lastly, the span of our technology offering gives us a clear advantage in terms of providing project and workflow integration to our customers. Our size has also enabled us to…
Cowen Investor Presentation December 3, 2013 Patrick Schorn To handle this activity we operate around 150,000 mobile assets, including vessels, vehicles, surface equipment, and downhole tools. We support our operations from 2,500…
Cowen Investor Presentation December 3, 2013 Patrick Schorn In 2010 we created a unified shared services organization spanning the support activities that were previously managed by the individual product lines, including supply…
Cowen Investor Presentation December 3, 2013 Patrick Schorn In addition, we have initiated a complete re-structuring of our global distribution, warehousing, and maintenance network. The aim is to gradually move away from our current…
Cowen Investor Presentation December 3, 2013 Patrick Schorn These production incentive contracts are managed through the Schlumberger Production Management (SPM) sub-segment of IPM. The SPM business is one of the fastest growing parts of…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Going forward, we see both a strong need and a clear opportunity to drive costs out of the E&P value chain through significant improvements in integration, quality and…
Cowen Investor Presentation December 3, 2013 Patrick Schorn On the basis of recent successes, we can expect many of the new exploration and development projects to be in the more remote areas of the world. These environments can…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Improving success rates in deepwater operations requires a focus on three major elements: people, process and technology. It is essential to develop the competency of field…
Cowen Investor Presentation December 3, 2013 Patrick Schorn As mentioned earlier, our international presence combined with our large and diverse customer base, offers a range of growth opportunities. In Saudi Arabia and Iraq we have…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Lets then turn to the business outlook, where first of all we maintain a positive view on 2014. From a macro perspective, we see a relatively stable overall picture, where…
Cowen Investor Presentation December 3, 2013 Patrick Schorn We further expect a flattening of the overall seismic spend in 2014, and we are so far seeing lower than expected multiclient sales in the fourth quarter. Looking closer at…
Cowen Investor Presentation December 3, 2013 Patrick Schorn As stated by our CEO, Paal Kibsgaard, we plan to continue improving our performance by working toward the following high-level goals. First, in 2011 and 2012 we posted growth…
Cowen Investor Presentation December 3, 2013 Patrick Schorn Thank you very much. I will now be pleased to answer questions. 21
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