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Schlumberger, YPF Ink Bandurria Sur Block Development Deal
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Schlumberger Ltd. (SLB - Free Report) recently inked an agreement with Argentina’s leading energy company, YPF, to begin a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, Neuquen.
Signed in YPF’s Buenos Aires office, the agreement entails a phased investment of about $390 million by Schlumberger. The scope of the agreement involves a material contribution in kind of its services at market price.
YPF will continue to operate the block. The commitment is also likely to involve the execution of different technical studies, the spudding of 26 pilot wells, and the building of new infrastructure.
Further negotiations on the definite agreement are likely in the next couple of months. Schlumberger will obtain a 49% interest in the joint venture, while YPF will hold the remaining 51%.
YPF’s partnership with Schlumberger is strategic as the latter has vast experience in the most important unconventional plays globally. Schlumberger also has an expert work team that improves its skills.
Schlumberger is a leading oilfield services company that provides technology, project management and information services to the global oil and gas industry.
YPF produces 43% of the total oil and gas in the country and supplies 56% of the fuel markets through a network of 1500 gas stations and other assets. YPF is a leader in the production of unconventional resources.
Investor confidence on Schlumberger’s stock is reflected in its price chart. Shares of the company declined 6.2% in the last three months, while the Zacks categorized Oil & Gas – Field Services industry registered a decline of 8% in the same time span.
Currently, Schlumberger carries a Zacks Rank #4 (Sell). Some better-ranked from the same space are Diamond Offshore Drilling Inc. (DO - Free Report) , Cenovus Energy Inc. (CVE - Free Report) and Bellatrix Exploration Ltd. . Both these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Diamond Offshore Drilling posted a positive earnings surprise of 341.67% in the preceding quarter. It beat estimates in all of the four trailing quarters with an average positive earnings surprise of 353.28%.
Cenovus Energy posted a positive earnings surprise of 583.33% in the preceding quarter. It beat estimates in two of the four trailing quarters with an average positive earnings surprise of 74.89%.
Bellatrix Exploration posted a positive earnings surprise of 240.00% in the preceding quarter. It beat estimates in three of the four trailing quarters with an average positive earnings surprise of 58.54%.
The Best & Worst of Zacks
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Schlumberger, YPF Ink Bandurria Sur Block Development Deal
Schlumberger Ltd. (SLB - Free Report) recently inked an agreement with Argentina’s leading energy company, YPF, to begin a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, Neuquen.
Signed in YPF’s Buenos Aires office, the agreement entails a phased investment of about $390 million by Schlumberger. The scope of the agreement involves a material contribution in kind of its services at market price.
YPF will continue to operate the block. The commitment is also likely to involve the execution of different technical studies, the spudding of 26 pilot wells, and the building of new infrastructure.
Further negotiations on the definite agreement are likely in the next couple of months. Schlumberger will obtain a 49% interest in the joint venture, while YPF will hold the remaining 51%.
YPF’s partnership with Schlumberger is strategic as the latter has vast experience in the most important unconventional plays globally. Schlumberger also has an expert work team that improves its skills.
Schlumberger is a leading oilfield services company that provides technology, project management and information services to the global oil and gas industry.
YPF produces 43% of the total oil and gas in the country and supplies 56% of the fuel markets through a network of 1500 gas stations and other assets. YPF is a leader in the production of unconventional resources.
Investor confidence on Schlumberger’s stock is reflected in its price chart. Shares of the company declined 6.2% in the last three months, while the Zacks categorized Oil & Gas – Field Services industry registered a decline of 8% in the same time span.
Currently, Schlumberger carries a Zacks Rank #4 (Sell). Some better-ranked from the same space are Diamond Offshore Drilling Inc. (DO - Free Report) , Cenovus Energy Inc. (CVE - Free Report) and Bellatrix Exploration Ltd. . Both these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Diamond Offshore Drilling posted a positive earnings surprise of 341.67% in the preceding quarter. It beat estimates in all of the four trailing quarters with an average positive earnings surprise of 353.28%.
Cenovus Energy posted a positive earnings surprise of 583.33% in the preceding quarter. It beat estimates in two of the four trailing quarters with an average positive earnings surprise of 74.89%.
Bellatrix Exploration posted a positive earnings surprise of 240.00% in the preceding quarter. It beat estimates in three of the four trailing quarters with an average positive earnings surprise of 58.54%.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>