Schlumberger flags accelerated E&P spending
Schlumberger has posted second-quarter revenue of US$8.3 billion, an increase of 11% compared to a year ago, and is flagging an increase in exploration and production spending in a brightening disposition.
The company said revenue was primarily lifted by a 43% lift in operations in North America to US$3.1 billion.
Schlumberger said offshore activity began to recover during the second quarter with new drilling projects in Eastern Canada, the US Gulf of Mexico, and the Caribbean,...