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Schlumberger Adds Omron Oilfield and Marine to its Portfolio
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Schlumberger Ltd. (SLB - Free Report) has acquired Omron Oilfield and Marine, Inc., in order to strengthen its control system capabilities for integrated well construction.
Houston, TX-based Omron Oilfield and Marine, Inc. is a group company under the U.S.-based OMRON Corporation. The company designs, manufactures, sells as well as offers aftermarket services for automated drive and control systems, power houses, and drillers’ cabins. The company also provides software-based drilling technologies on a rental or subscription basis. It has a workforce of 139 employees.
Founded in 1973 as Industrial Drive Maintenance, Inc. (IDM), Omron Oilfield and Marine was acquired by OMRON Corporation in 1999. The Kyoto-based global leader in the field of automation has currently organized Omron Oilfield and Marine within its Industrial Automation division.
Benefits for the Acquirer
Schlumberger is set to benefit substantially from the transaction. The buyout should help the company enhance its expertise and global reach. The deal is also expected to open up new market opportunities for Schlumberger.
Moreover, Schlumberger's combination of a strong balance sheet, technological leadership and efficient management is expected to prove beneficial in the long term. Also, the company’s efforts to increase its capacity in pressure pumping and strengthening deepwater activity in the GoM are likely to add to revenues going forward. While hydraulic fracturing pricing and land drilling activity remained depressed throughout North America, this was more than offset by the company’s superior technology, internal efficiency gains and size.
Zacks Rank and Stocks to Consider
Currently, Schlumberger carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the oil and gas sector include CVR Refining, LP , ReneSola Ltd. (SOL - Free Report) and Braskem S.A. (BAK - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
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Schlumberger Adds Omron Oilfield and Marine to its Portfolio
Schlumberger Ltd. (SLB - Free Report) has acquired Omron Oilfield and Marine, Inc., in order to strengthen its control system capabilities for integrated well construction.
Houston, TX-based Omron Oilfield and Marine, Inc. is a group company under the U.S.-based OMRON Corporation. The company designs, manufactures, sells as well as offers aftermarket services for automated drive and control systems, power houses, and drillers’ cabins. The company also provides software-based drilling technologies on a rental or subscription basis. It has a workforce of 139 employees.
Founded in 1973 as Industrial Drive Maintenance, Inc. (IDM), Omron Oilfield and Marine was acquired by OMRON Corporation in 1999. The Kyoto-based global leader in the field of automation has currently organized Omron Oilfield and Marine within its Industrial Automation division.
Benefits for the Acquirer
Schlumberger is set to benefit substantially from the transaction. The buyout should help the company enhance its expertise and global reach. The deal is also expected to open up new market opportunities for Schlumberger.
Moreover, Schlumberger's combination of a strong balance sheet, technological leadership and efficient management is expected to prove beneficial in the long term. Also, the company’s efforts to increase its capacity in pressure pumping and strengthening deepwater activity in the GoM are likely to add to revenues going forward. While hydraulic fracturing pricing and land drilling activity remained depressed throughout North America, this was more than offset by the company’s superior technology, internal efficiency gains and size.
Zacks Rank and Stocks to Consider
Currently, Schlumberger carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the oil and gas sector include CVR Refining, LP , ReneSola Ltd. (SOL - Free Report) and Braskem S.A. (BAK - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>