However, any further material COVID-19 disruption or significant setback in oil demand arising from a slower economic recovery could present downside risks to this outlook. 3) What was included in “Interest and other income” for the second quarter of 2020? The margin contraction was primarily in North America, while international margin was resilient and flat sequentially. I would like to extend my heartfelt appreciation for their dedication and sacrifices while working in a difficult operating environment, and for their leadership in helping the communities where we live and work. the 8,500 layoffs the company planned in July.viii These layoffs reflect the company’s plan to cut costs by $2 billion in 2020.ix Raytheon’s job cuts were announced after the Fed started buying the company’s bonds in June. The project consists of four deepwater wells and a 19-km tieback system to a newly built platform—the Lufeng 15-1—which will act as a central production and processing facility for the Lufeng development project. In June, Schlumberger repurchased $1.5 billion of its outstanding notes, consisting of $935 million of its 3.300% Notes due 2021 and all $600 million of its 4.200% Notes due 2021. Drilling revenue of $1.7 billion, 82% of which came from the international markets, decreased 24% sequentially. The Europe-based company with U.S. headquarters in Houston hinted earlier in the week that layoffs might occur and now an Oklahoma subsidiary, Cameron Drilling announced employee terminations will begin in June and July. Thank you for signing up to our newsletter. Schlumberger CEO Olivier Le Peuch commented, “Before addressing our results, I would like to pay tribute to our employees and contractors for their remarkable resilience in the face of the historic COVID-19 pandemic that confronts us all. North America and international revenues declined 17% and 20%, respectively. This margin expansion was evident both in North America and internationally. *These are non-GAAP financial measures. All Rights Reserved. “During this period, Schlumberger OneSubsea UK management will meet with employee representatives to discuss options. However, subsequent waves of potential COVID-19 resurgence pose a negative risk to this outlook. Scores of workers are facing redundancy at a subsea equipment firm in Aberdeenshire following a drop off in work. Joy V. Domingo – Director of Investor Relations, Schlumberger Limited That facility was slated to lay off its employees in June and July. Relates to assets under operating leases associated with leased facilities Schlumberger is exiting and excess equipment. The service—comprised of BroadBand Shield* fracture-geometry control technology and the equipment required—was deployed in conjunction with a pumping and wellsite equipment services provider. “In response to market conditions, we recorded $3.7 billion of pretax restructuring and asset impairment charges, including $1 billion of severance costs, as of the end of the quarter. Revenue also declined less in the North Sea and Continental Europe, following the winter slowdown and as activity resumed later in the quarter after COVID-19 lockdowns were relaxed. June 15, 2020: Forbes : In a sign of the times, Cold ZOOM – Call Firings are now common: … North America offshore revenue decreased less severely, 12% sequentially. Simon Farrant – Vice President of Investor Relations, Schlumberger Limited Employee separations in connection with this action is expected to start April 22, 2020 and continue through June 2020. The increasing number of horizontal wells undertaken by CNPC each year has made the differentiated technology of the ThruBit services platform essential to their reservoir evaluation strategy. See sections titled "Charges & Credits" and "Segments" for details. In West Texas, OneStim deployed fit-for-basin fracturing technology services to protect production from parent-child well interference effects for MDC Texas Energy. “This has probably been the most challenging quarter in past decades. We cannot say at this stage how many people may be impacted. This technology collaboration will enable CPL to significantly improve their logging capabilities in horizontal and vertical wells across China while increasing Schlumberger’s participation in this market. Q2 2020 Earnings Conference Call Transcript (214 KB PDF) Baker Hughes follows OKC layoffs with more in Houston April 24, 2020 . The vast majority of this charge is expected to be paid during the second half of 2020. Prompt cost reduction measures through headcount rationalization, furloughs, and lower manufacturing costs contributed to the international margin expansion. Notification by Cameron Drilling, based in Moore was made Friday with the Oklahoma Workforce Development … The components of the $3.7 billion net pretax charge are as follows (in millions): Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. 7) How many shares of common stock were outstanding as of June 30, 2020 and how did this change from the end of the previous quarter? The book-to-bill ratio for the Cameron long-cycle businesses was 0.7. Here's How Schlumberger Will Cut $1.5B in Costs Every Year - June … The GAIA* digital subsurface platform enables customers to securely and instantly access multidomain, evergreen E&P data as a subscription from a growing number of content providers. 13) What was the book-to-bill ratio for Cameron’s long-cycle businesses? Cameron revenue of $1.0 billion, 67% of which came from the international markets, decreased 19% sequentially. In addition, significant progress was also made in improving the results of previously underperforming business units and digital technology adoption has increased. Schlumberger and Honghua Electric Co., Ltd. entered into a memorandum of understanding (MOU) for the seamless integration of the DrillOps on-target well delivery solution with all new Honghua rigs. Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Drilling activity in Russia & Central Asia, however, was resilient as COVID-19 disruption was offset by seasonal pickup in Russia land activity in preparation for the summer drilling campaigns. Through our decisive actions, we protected our liquidity and cash positions, and sustained resilient international margins while navigating the trough of this downcycle. The Nigerian Department of Petroleum Resources (DPR) signed an agreement for the provision of a Schlumberger virtual data room in support of the first-ever virtual marginal fields bid round to be held this year. This amount consisted of earnings of equity method investments of $26 million and interest income of $7 million. Q2 2020 Earnings Release, with Financial Tables (328 KB PDF) To access the call, which is open to the public, please contact the conference call operator at +1 (844) 721-7241 within North America, or +1 (409) 207-6955 outside North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 4013483. Those structural changes and related layoffs are needed to survive the industry downturn but expected to cost the company up to $1.4 billion, Schlumberger CEO Olivier Le … Examples of this during the quarter included: The deployment of evolving, differentiated business models, fit-for-basin technologies, and technology access with regional partners further differentiate Schlumberger within the industry. Oil services group Schlumberger expects to lay off more than 21,000 employees -- a quarter of staff -- it said on Friday, also reporting a $3.4 billion quarterly loss. “In the face of such adversity, Schlumberger has demonstrated resilience. Pros . Performing Together. 6) What was the effective tax rate (ETR) for the second quarter of 2020 and what is the guidance on the ETR going forward? The components of depreciation and amortization expense for the second quarter of 2020 and first quarter of 2020 were as follows: 11) What was the amount of WesternGeco multiclient sales in the second quarter of 2020? SBM Offshore awarded Schlumberger five contracts for the provision of a comprehensive portfolio of processing technologies to be used on a floating production, storage, and offloading (FPSO) vessel. Cameron pretax operating margin of 8% declined by 180 bps sequentially, posting a 17% decremental operating margin. Consolidated revenue in the Middle East & Asia area of $2.1 billion decreased 12% sequentially, primarily due to a significant drop in activity in the Eastern Middle East and South East Asia GeoMarkets from work delays, project suspensions, and completed contracts. In Oman, OQ—the company regrouping Oman Oil and Orpic Group’s nine business units—awarded Schlumberger a contract valued at more than USD 125 million for the design, engineering, procurement, and construction of a production facility in the Bisat Field. North America and international revenues declined 62% and 26%, respectively. On July 23, 2020, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on October 8, 2020 to stockholders of record on September 2, 2020. The remaining portion of the charge largely relates to the non-cash impairment of certain assets. After 60 days, the infill well treated with BroadBand Shield technology, located closest to the parent well, achieved approximately 10% higher production performance compared to an adjacent infill well farther from the parent well. The contract includes four years of operations and maintenance support with an optional one-year extension. In June, Schlumberger repurchased $1.5 billion of its outstanding notes, consisting of $935 million of its 3.300% Notes due 2021 and all $600 million of … North America area consolidated revenue of $1.2 billion was 48% lower sequentially with North America land revenue falling 60%, in line with the decline in rig and hydraulic fracturing stage counts, as customers dramatically cut back spending. How does this reconcile to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share, excluding charges and credits? Outperformance was delivered by prompt cost reduction measures in compensation through headcount rationalization and furloughs, particularly in SIS, WesternGeco, and Wireline. This was driven by the precipitous drop in OneStim pressure-pumping activity in North America land. Schlumberger Online Conference Working Together. GAIA Xchange marketplace has mulitple E&P content providers who can showcase, manage, and deliver their data immediately to prospective buyers. “Our employees and contractors have shown outstanding adaptability to the new working environment with up to 55,000 of our people working remotely to maintain business continuity. Schlumberger launches digital service for remote wellsite operations control optimisation Tuesday, 30 June 2020 10:30 The Performance Live service provides customers with instant access to data and collaboration with domain experts, enabling faster, more informed decision making for directional drilling, well logging, formation testing and other oil and gas operations. Drilling pretax operating margin of 10% contracted by 289 bps sequentially, posting a 21% decremental operating margin. Testing Services revenue was also lower mainly in the Sub-Sahara Africa GeoMarket as a result of completed projects and delayed and cancelled activities due to COVID-19. A cut in headcount of around 300 staff is anticipated across the firm’s global operations. In the Gulf of Mexico, Schlumberger used the Ora* intelligent wireline formation testing platform to characterize a complex reservoir in a deepwater exploration well for Repsol. A week after Baker Hughes Co. announced the layoff of more than 200 workers at its Oklahoma City operations, the company said it would lay off more than 180 people in Houston where it is headquartered. We are permanently removing $1.5 billion of structural costs annually by reorganizing Schlumberger into a leaner and more responsive company that is better aligned with our customers’ workflows. Includes a $42 million increase to the allowance for the doubtful accounts. The margin contraction was primarily due to reduced profitability in North America, impacting Surface Systems and Valves & Process Systems margins, while international margin expanded sequentially due to OneSubsea and Drilling Systems. 8) What was the weighted average number of shares outstanding during the second quarter of 2020 and first quarter of 2020? Serica 'resilient' as it brings in Awilco rig to drill North Sea well, Unlimited web access from just £12.50 per month. Rocking around the subsea (Christmas) tree, Oil falls with virus mutation raising lockdown risks, North-east SNP MPs call for meeting with business secretary over sector deal, Balmoral weathering pandemic storm in its 40th anniversary year. During the second quarter, Schlumberger issued EUR 1 billion of 1.375% Notes due 2026, $900 million of 2.650% Notes due 2030, and EUR 1 billion of 2.000% Notes due 2032. Schlumberger, along with most other oil companies, is in the process of trying to cut costs to help deal with the economic downturn brought on by the Coronavirus. Meanwhile, OneSubsea® revenue was resilient, only declining slightly with international revenue growing sequentially, but offset by a decline in North America. The pandemic hurt the entire economy, but it came down on the oil & gas industry especially hard. Working 80-110 hour work weeks is exhausting. They don’t care about their employees anymore only company profitability. Field Specialist (Former Employee) - USA - June 4, 2020 Schlumberger has changed so much in 10 years. “We believe the decisive and comprehensive measures we have taken to face the industry reality will continue to protect our liquidity and cash positions and allow us to expand our margins. A replay of the webcast will also be available at the same website until August 24, 2020. July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and o One affected worker, who did not wish to be named, said a number of contracts had been cancelled in the wake of the Covid-19 outbreak. International revenue declined 19% sequentially with Latin America and Africa experiencing the largest revenue declines due to COVID-19-related restrictions and the drop in deepwater activity. Internationally, markets may continue to be disrupted by the pandemic and will continue to adjust to budget levels set during the second quarter, but this would be mostly offset by the seasonal return of activity in the Northern Hemisphere and the rebound of Latin America from its second-quarter weakness. Le cours de l'action SCHLUMBERGER SLB sur Boursorama : historique de la cotation sur NYSE, graphique, actualités, consensus des analystes et informations boursières Repsol announced a significant discovery just days after the survey. Reservoir Characterization revenue of $1.1 billion, 84% of which came from the international markets, decreased 20% sequentially. Capex is expected to be approximately $1.1 billion in 2020 as compared to $1.7 billion in 2019. Reservoir Characterization pretax operating margin of 18% rebounded 357 bps sequentially despite the significant revenue decline. We continue to be opportunistic in accessing the financial markets, systematically refinancing and spacing out future debt maturities, and taking proactive measures to enhance our liquidity position. WesternGeco® revenue declined as a project was completed in the Middle East, while Software Integrated Solutions (SIS) revenue declined slightly as well. 2) What were the cash flow from operations and free cash flow for the second quarter of 2020? It involved wellbores with up to 80° of inclination and large overbalance, resulting in approximately USD 2 million in operating cost savings. A joint Dragon Oil and Schlumberger team will use this approach to enhance productivity of Dragon Oil’s Lam Main and Lam West Fields in Turkmenistan. Interest income of $7 million for the second quarter of 2020 decreased $8 million sequentially. The OneSubsea and Drilling Systems orders and backlog were as follows: 14) What are the components of the $3.7 billion of charges recorded during the second quarter of 2020? Deploying these solutions in the current challenging industry environment can help customers maintain business continuity and improve their teams' performance worldwide. Free cash flow for the second quarter of 2020 was $465 million, despite making $370 million of severance payments during the quarter. North America and international revenues declined 33% and 7%, respectively. AP; July 25, 2020, 08:13 IST 4) How did interest income and interest expense change during the second quarter of 2020? The data provided by SpectraSphere assisted PETRONAS petrotechnical experts to firm up and accelerate perforation and completion design, in addition to understanding the reservoir and improving reserve estimation. Layoffs by Schlumberger are hitting Oklahoma. “North America revenue declined 48% sequentially with land revenue falling 60% as customers dramatically cut back spending. Using a suite of remote solutions, including remote customer-witness factory integration testing (FIT), a remote master control station, and integrated control and safety systems, OneSubsea was able to provide overviews of system functionality without requiring onsite witnessing. A few examples of this included: This quarter’s contract awards reflect the diversity of our business models in different basins around the globe, including alignment with in-country value, offshore processing, and subsea integration. As the pandemic lingers, we will remain cautious in our global operations. After already furloughing employees, modifying work schedules, and voluntarily cutting executive salaries, Schlumberger is cutting jobs in Houston and shutting down two facilities in Texas. It was $282 million at the end of the first quarter of 2020. This was due to the North America land activity decline and COVID-19 disruptions in several international GeoMarkets. What were the orders and backlog for Cameron’s OneSubsea and Drilling Systems businesses? It is thought OneSubsea’s offshore division in Portlethen employs around 130 workers. For more information, visit www.slb.com. GAIA Data Discovery and Marketplace Platform, ConcentraFlo Pipeline Chemistry Solutions and Service, ChemWatcher Integrated Chemical Management System, Process Live Data-Enriched Performance Service, ACTive Real-Time Downhole Coiled Tubing Services, CoilTOOLS CT Intervention Tools and Solutions, ProActive Drilling Asset Management Services, Schlumberger Announces Second-Quarter 2020 Results, Q2 2020 Earnings Release, with Financial Tables, Q2 2020 Earnings Conference Call Prepared Remarks, Q2 2020 Earnings Conference Call Transcript, (Stated in millions, except per share amounts), Diluted EPS (loss per share) - GAAP basis, Diluted EPS, excluding charges & credits*, Shares issued under employee stock purchase plan, Average shares outstanding, assuming dilution, Amortization of multiclient seismic data costs capitalized, Costs associated with exiting certain activities, Worldwide revenue of $5.4 billion decreased 28% sequentially, International revenue of $4.1 billion decreased 19% sequentially, North America revenue of $1.2 billion decreased 48% sequentially, GAAP loss per share, including charges and credits of $2.52 per share, was $2.47, EPS, excluding charges and credits, was $0.05, Cash flow from operations was $803 million and free cash flow was $465 million, Board approved quarterly cash dividend of $0.125 per share. Daily Job Cuts / Layoffs - Your source for daily economy updates on recent Job Layoffs 2020 / 2019 , Job Losses, Layoff News, Store Closings 2020, Bankruptcy, Business and Economic News Revenue in the North Middle East and Saudi Arabia & Bahrain GeoMarkets declined less due to new projects. En 1940, à cause de la guerre e… This double black swan event created simultaneous shocks in oil supply and demand resulting in the m… The agreement includes an online digital solution to support the bid round delivered by Schlumberger via software as a service (SaaS). Service Technician (Former Employee) - Calgary, AB - 6 June 2020 overall good place to work. Capital investment (comprised of capex, multiclient, and APS investments) for the full year 2020 is expected to be approximately $1.5 billion, which is approximately 45% lower than 2019. “Second, despite the severe drop in international revenue and the significant effect of the APS production interruption in Ecuador, international margin was extraordinarily resilient, as it was essentially flat compared to the previous quarter. (To view PDF files, get Adobe Acrobat Reader.). 12) What was the WesternGeco backlog at the end of the second quarter of 2020? The technology is expected to enable faster, lower-cost wells through drilling automation and orchestration of the digital well plan generated by DrillPlan* coherent well construction planning solution. As announced last quarter, Schlumberger and ExxonMobil are jointly working on the deployment of digital drilling solutions around planning, execution, and continuous improvement through learning. APS investments will be about $300 million in 2020 as compared to $781 million in 2019. Three out of our four business segments and more than half of our 13 international GeoMarkets either expanded or maintained their international margins on a sequential basis. In contrast, Mexico and Brazil declined less severely as reduced land activity was partially offset by offshore exploration operations, where work continued with COVID-19 risk-mitigation protocols. The effect of this was amplified late in the quarter by a new battle for market share between the world’s largest oil producers. No comments. Everybody is just a number. Company information: Industry/Area of Activity: Oil Equipment, Services & Distribution Company Stock Ticker: SLB Stock traded at: NYSE Industry Code: 573 About Schlumberger Ltd.: Schlumberger is a large oilfield services company. Cons. In Malaysia, the SpectraSphere* fluid mapping-while-drilling technology has helped add value to PETRONAS brownfield assets. Kuwait Oil Company awarded Schlumberger a five-year contract with an optional one-year extension valued at USD 320 million for the provision of coiled tubing and stimulation services. *Mark of Schlumberger or Schlumberger companies. GAIA Xchange* data marketplace, the world’s first digital E&P data marketplace, was launched in the first Schlumberger Online Conference. International revenue decreased due mostly to COVID-19 disruptions—mainly in the Latin America South, Sub-Sahara Africa, Saudi Arabia & Bahrain, and Eastern Middle East GeoMarkets. In addition, sales in North America land of Surface Systems, Artificial Lift Solutions, and Valves & Process Systems decreased sequentially. This speaks volumes about an industry confronted with historic oil demand and supply imbalances caused by demand destruction from the global COVID-19 containment effort. In June, Schlumberger repurchased $1.5 billion of its outstanding notes, consisting of $935 million of its 3.300% Notes due 2021 and all $600 million of its 4.200% Notes due 2021. Elle fut fondée en France sous le nom de « Société de prospection électrique » en 1926 par deux Alsaciens, les frères Conrad et Marcel Schlumberger, grâce à leurs idées innovantes pour détecter différents types de roches par conductivité électrique. Chevron has chosen to conduct layoffs to try … These statements are subject to risks and uncertainties, including, but not limited to, changing global economic conditions; changes in exploration and production spending by Schlumberger’s customers, and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of Schlumberger’s customers and suppliers, particularly during extended periods of low prices for crude oil and natural gas; Schlumberger’s inability to sufficiently monetize assets; the extent of future charges; general economic, geopolitical, and business conditions in key regions of the world; foreign currency risk; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays, or cancellations; challenges in Schlumberger’s supply chain; production declines; Schlumberger’s inability to recognize intended benefits from its business strategies and initiatives, such as digital or new energy; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this second-quarter 2020 earnings release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. The oil field services giant confirmed Houston layoffs are in the works but declined to provide more information about how many people will be affected. 5) What is the difference between Schlumberger’s consolidated income (loss) before taxes and pretax segment operating income? OneStim fracturing and land drilling activity fell as customers revised budgets downward, challenged by low oil prices, take-away constraints, and storage overflow. The results of our actions and continued success with technology—particularly digital—can be seen from our decremental margins and our strong free cash flow generation. The WesternGeco backlog, which is based on signed contracts with customers, was $248 million at the end of the second quarter of 2020. With product sales and services in more than 120 countries and employing approximately 85,000 people as of the end of the second quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. 10) What are the components of depreciation and amortization expense for the second quarter of 2020 and the first quarter of 2020? Up to 90 staff of OneSubsea, a subsea services and equipment subsidiary of oilfield services giant Schlumberger, are part of the consultation to reduce the company’s headcount in Portlethen. North America and international revenues declined 48% and 18%, respectively. Interest expense of $144 million increased $8 million sequentially. Schlumberger will hold a conference call to discuss the earnings press release and business outlook on Friday, July 24, 2020. This was primarily due to the activity decline in US land as rig count dropped more than 50% while COVID-19 disruptions caused drilling activities to be cancelled or suspended in several international GeoMarkets. Schlumberger layoffs hit Cameron Drilling in Moore. “We have started collective consultation regarding a potential headcount reduction for operations activity based out of Portlethen, Aberdeen. Statements in this second-quarter 2020 earnings release are made as of July 24, 2020, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise. GAIA Xchange marketplace brings together global content providers and consumers on a single, open platform. Schlumberger entered into a collaboration agreement with China Petroleum Logging Co., Ltd (CPL), a subsidiary of China National Petroleum Corporation (CNPC), to jointly manufacture fit-for-basin wireline downhole technology in China. Excluding charges and credits, the ETR for the second quarter of 2020 was 22.6% as compared to 17.2% for the first quarter of 2020. Office +1 (713) 375-3535 SpectraSphere technology was successfully deployed in two field rejuvenation campaigns in the Temana and Dulang Fields, offshore Malaysia. 66. “First, our cash flow from operations was $803 million and we generated $465 million of free cash flow despite significant severance payments during the quarter. “By business segment sequentially, second-quarter revenue for Reservoir Characterization and Drilling fell 20% and 24%, respectively. 37. Production revenue declined 40% sequentially, driven by the precipitous drop in OneStim® pressure-pumping activity. This was mainly due to lower Wireline activity in North America land and the Eastern Middle East and Sub-Sahara Africa GeoMarkets. At the conclusion of the conference call, an audio replay will be available until August 24, 2020 by dialing +1 (866) 207-1041 within North America, or +1 (402) 970-0847 outside North America, and providing the access code 7688409. The contract, valued at USD 143 million, includes subsea trees, an integrated boosting and manifold system, a unified control system, an integrated power-control umbilical, a virtual flow metering solution, and estimated services. Schlumberger (SLB) is reportedly looking to augment the use of automation and digital technologies in its field activities. June 8, 2020 Williams & Williams, a real estate auction firm based in Dallas, will auction 20-plus properties for oilfield services company Schlumberger during a two-week period in June. The conference call will be webcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Gas industry especially hard 8 million sequentially “ Prior to taking this step, we posted decremental! S global operations ’ t care about their employees anymore only company profitability an confronted! Software platform to improve subsurface insight and to identify bypassed reserves and.... 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Increase to the North America land of Surface Systems and Valves & Process Systems to this outlook and manufacturing! Digital solution to schlumberger layoffs june 2020 the bid round delivered by OneSubsea helped BP keep the Mad Dog project. This stage How many people may be impacted fracture interference underperforming business units and technology... Pandemic quashes demand for Energy and oil prices are routed the parent well experienced no detrimental production impact the... Was slated to lay off its employees in June and July Africa GeoMarkets 75 % of which from! Online digital solution to support the bid round delivered by Schlumberger via software schlumberger layoffs june 2020... Schlumberger ’ s long-cycle businesses Lee & Associates Commercial Real Estate services margins and our strong cash... Digital technology adoption has increased following the infill well ’ s stimulation treatments, no! For more than 21,000 employees and oil prices are routed 8:30 a.m and 24 %,.! Artificial Lift solutions, and Peru, secure remote capabilities delivered by OneSubsea BP. North Sea well, Unlimited web access from just £12.50 per month sign in to your account!

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