'Schlumberger Ltd. said its third-quarter earnings fell 82% on lower revenue and expenses related to the oil-field services acquisition of Cameron International Corp. earlier this year.' Oh fearsome. I would say that this is not too good. Brace yourselves.
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Once upcoming changes are complete we will outperform in EAF & CIS.
Basically...the service industry has seen the bottom, BUT....the future is cloudy. Most of NAM business is in Texas, and dominated by independents that are using lower cost services. SLB has been hurt by dislodging experienced technical staff that had relationships with these operators. SLB will Transform towards NOC's and Integrated Services with larger operators in locations with higher profitability. Going to be a rough ride in 2017 if you are outside the Kingdom of Texas or in the wrong business segment.
also almost double the amount of "workforce reduction" credits in the past nine months, than 2015 nine month.