U.S. Dry Natural Gas Drilling ‘Some Way Out’ in Future, Says Schlumberger Chief

摘要

A meaningful recovery in U.S. dry natural gas drilling is “some way out in the future,” Schlumberger Ltd. CEO Paal Kibsgaard said Friday. There’s also little optimism that the oversupplied pressure pumping market will see any relief through 2014. However, activity in the deepwater Gulf of Mexico is helping to sustain strong earnings for the North American segment, he said during a conference call to discuss 4Q2013 earnings results. The world’s largest oilfield services company reported net income in 4Q2013 of $1.66 billion ($1.26/share), versus $1.36 billion ($1.02) in the year-ago period. Full-year profits were $45.27 billion, up from $4.1.73 billion in 2012. Revenue for the quarter totaled about $11.9 billion from $11.08 billion a year earlier.