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Schlumberger and Subsea to Create a New JV, Stocks Rise
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Schlumberger Limited (SLB - Free Report) recently announced that the company is considering an opportunity to form a joint venture (JV) with Subsea 7 S.A. (SUBCY - Free Report) to provide clients with better subsea installations and oilfield services, derived from their Subsea Integration Alliance's success. Following the news of JV formation, Schlumberger gained 2.4% and Subsea stocks added 7.1% on last Friday.
The JV is expected to improve client efficiency and provide cost synergies to the partners, which will in turn, result in increasing total production. It will enable the companies to offer their clients more integrated deepwater services. Per the deal, both the companies in the 50-50 partnership can provide non-integrated products and services individually to their clients.
Such JV’s are common in the industry where it operates. At the beginning of last year, TechnipFMC plc (FTI - Free Report) came into existence following the merger between Technip and FMC Technologies. It is engaged in the designing, producing and servicing of technologically sophisticated systems and products for subsea, onshore/offshore, and surface projects. Forming the JV is expected to enable the partnership obtain higher market share.
Price Performance
Schlumberger has lost 17.9% in the last year compared with 26.7% decline of its industry.
About the Companies
Houston, TX-based 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 into four segments: Reservoir Characterization, Drilling, Production and Cameron. The company is currently operating in more than 85 countries.
On the other hand, based in London, UK, Subsea is a provider of several technical solutions to the offshore energy industry.
Irving, TX-based Pioneer Natural Resources is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 22.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 166.2%.
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Schlumberger and Subsea to Create a New JV, Stocks Rise
Schlumberger Limited (SLB - Free Report) recently announced that the company is considering an opportunity to form a joint venture (JV) with Subsea 7 S.A. (SUBCY - Free Report) to provide clients with better subsea installations and oilfield services, derived from their Subsea Integration Alliance's success. Following the news of JV formation, Schlumberger gained 2.4% and Subsea stocks added 7.1% on last Friday.
The JV is expected to improve client efficiency and provide cost synergies to the partners, which will in turn, result in increasing total production. It will enable the companies to offer their clients more integrated deepwater services. Per the deal, both the companies in the 50-50 partnership can provide non-integrated products and services individually to their clients.
Such JV’s are common in the industry where it operates. At the beginning of last year, TechnipFMC plc (FTI - Free Report) came into existence following the merger between Technip and FMC Technologies. It is engaged in the designing, producing and servicing of technologically sophisticated systems and products for subsea, onshore/offshore, and surface projects. Forming the JV is expected to enable the partnership obtain higher market share.
Price Performance
Schlumberger has lost 17.9% in the last year compared with 26.7% decline of its industry.
About the Companies
Houston, TX-based 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 into four segments: Reservoir Characterization, Drilling, Production and Cameron. The company is currently operating in more than 85 countries.
On the other hand, based in London, UK, Subsea is a provider of several technical solutions to the offshore energy industry.
Zacks Rank and Stocks to Consider
Schlumberger carries a Zacks Rank #3 (Hold).
A better-ranked stock in the oil and energy sector is Pioneer Natural Resources Company (PXD - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Irving, TX-based Pioneer Natural Resources is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 22.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 166.2%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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