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Schlumberger Buys 50% Stake in Petro-SPM Integrated Services
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Schlumberger Limited (SLB - Free Report) has farmed into Petrofac’s stake of 50% in Petro-SPM Integrated Services S.A. de C.V.
The Pánuco Integrated Service Contract in Mexico is operated by Petro-SPM. Schlumberger now owns 100% of Petro-SPM. The transaction was concluded on Aug 15, 2017.
The total potential consideration is in line with the net book value of Petrofac’s interest and includes cash on completion and delayed consideration. The delayed consideration includes both a payment on migration from an Integrated Service Contract to a new contract form and a further share of post migration cash flows.
Mexico forms an important region in Schlumberger’s portfolio. The energy reform is a vital step in the evolution of the country’s oil and gas industry and provides immense opportunities.
Schlumberger is a leading oilfield services company, providing technology, project management and information services to the global oil and gas industry. Schlumberger’s reporting segments can be categorized under four segments: Reservoir Characterization, Drilling, Production and Cameron.
Schlumberger is the largest oilfield services player in the world with presence in every energy market across the world. Also, in all the operating business segments, the company is among the top players. Given the huge size and attractive reservoir and well technologies, the company will likely outperform peers.
The continued and effective cost-management initiatives are noteworthy. Higher activities in the land market of the U.S and fracturing work recovery in North America also are commendable.
Schlumberger has lost 11.2% of its value over the last three months versus the 19.4% decline of its industry.
Range Resources delivered a positive earnings surprise of 250.00% in the preceding quarter. The company beat estimates in three of the trailing four quarters, with an average negative earnings surprise of 94.22%.
Braskem delivered a positive earnings surprise of 107.79% in the quarter ending September 2016.
TransCanada delivered a positive earnings surprise of 12.00% in the preceding quarter. It surpassed estimates in two of the trailing four quarters, with an average positive earnings surprise of 4.06%.
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Schlumberger Buys 50% Stake in Petro-SPM Integrated Services
Schlumberger Limited (SLB - Free Report) has farmed into Petrofac’s stake of 50% in Petro-SPM Integrated Services S.A. de C.V.
The Pánuco Integrated Service Contract in Mexico is operated by Petro-SPM. Schlumberger now owns 100% of Petro-SPM. The transaction was concluded on Aug 15, 2017.
The total potential consideration is in line with the net book value of Petrofac’s interest and includes cash on completion and delayed consideration. The delayed consideration includes both a payment on migration from an Integrated Service Contract to a new contract form and a further share of post migration cash flows.
Mexico forms an important region in Schlumberger’s portfolio. The energy reform is a vital step in the evolution of the country’s oil and gas industry and provides immense opportunities.
Schlumberger is a leading oilfield services company, providing technology, project management and information services to the global oil and gas industry. Schlumberger’s reporting segments can be categorized under four segments: Reservoir Characterization, Drilling, Production and Cameron.
Schlumberger is the largest oilfield services player in the world with presence in every energy market across the world. Also, in all the operating business segments, the company is among the top players. Given the huge size and attractive reservoir and well technologies, the company will likely outperform peers.
The continued and effective cost-management initiatives are noteworthy. Higher activities in the land market of the U.S and fracturing work recovery in North America also are commendable.
Schlumberger has lost 11.2% of its value over the last three months versus the 19.4% decline of its industry.
Schlumberger currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Range Resources Corp. (RRC - Free Report) , Braskem S.A. (BAK - Free Report) and TransCanada Corp. (TRP - Free Report) . All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Range Resources delivered a positive earnings surprise of 250.00% in the preceding quarter. The company beat estimates in three of the trailing four quarters, with an average negative earnings surprise of 94.22%.
Braskem delivered a positive earnings surprise of 107.79% in the quarter ending September 2016.
TransCanada delivered a positive earnings surprise of 12.00% in the preceding quarter. It surpassed estimates in two of the trailing four quarters, with an average positive earnings surprise of 4.06%.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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