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Schlumberger NV

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  • *Q1 earnings $1.70/ shr vs est $1.52/ shr. *Q1 revenue $1.06 bln vs est $977.3 mln. Jan 29- Driller Helmerich& Payne Inc said it may cut 2,000 jobs as it begins to idle rigs amid a slide in crude oil prices, following similar cost cuts by top oilfield services providers Schlumberger NV and Baker Hughes Inc.

  • FARGO, N.D.— A lawsuit accusing oil-services company Schlumberger Ltd. of failing to pay overtime wages in North Dakota's oil patch can move forward, a federal judge says. Judge Ralph Erickson's ruling, released Monday, grants conditional class-action status to the suit filed by a former employee of Houston- based Schlumberger, which provides technology and...

  • NEW YORK— General Electric Co. posted higher revenue and net income for the fourth quarter, but was held back from even better results by a sputtering performance from its expanding oil and gas division. On an adjusted basis, the company earned 56 cents a share, matching what analysts surveyed by Zacks Investment Research expected, on average.

  • Titans of the sector such as Schlumberger NV and Halliburton Co may have a chance to scoop up assets and know-how from rivals less able to weather the downturn, as their deeper pockets give them a major tactical advantage. Schlumberger was one of his top three holdings as of end-December, according to the fund fact sheet. Norway's Seadrill Ltd for instance has...

  • US STOCKS-Wall St gains after ECB stimulus move Thursday, 22 Jan 2015 | 2:08 PM ET

    *Verizon, American Express fall after results. NEW YORK, Jan 22- U.S. stocks rose on Thursday after the European Central Bank announced larger than expected measures to stimulate the region's sagging economy. "Many have said this program is not going to suddenly flip a switch," said John Canally investment strategist at LPL Financial in New York.

  • Oil majors seek to claw back costs from service firms Thursday, 22 Jan 2015 | 10:30 AM ET

    While keen to avoid accusations of ganging up to force terms on suppliers, they are exploring measures that are likely to put further pressure on services companies such as Schlumberger and Halliburton, which have already cut thousands of jobs as business shrinks. In 2000 s, when we became rich, we became less cost-efficient, "said Claudio Descalzi, chief...

  • "It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...

  • Cramer: The hot commodity opportunity of low oil Tuesday, 20 Jan 2015 | 6:57 PM ET
    A Halliburton Co. worker walks through an Anadarko Petroleum Corp. hydraulic fracturing (fracking) site north of Dacono, Colorado.

    Jim Cramer compares statements of three oil companies, and finds this one is the real winner.

  • Schlumberger digs Russian driller  Tuesday, 20 Jan 2015 | 5:28 PM ET

    Schlumberger is acquiring a minority stake in Eurasia Drilling Co. The "Fast Money" traders discuss their play on the name.

  • HOUSTON— Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000- plus workers Baker Hughes says it employs worldwide. Oil services rival Halliburton had announced in November it...

  • Baker Hughes to cut 7K as oil patch layoffs mount Tuesday, 20 Jan 2015 | 2:12 PM ET
    Baker Hughes Inc. signage is displayed at one of the company's facilities in Houston, Texas.

    As crude oil prices continue slipping, pink slips are mounting in the oil patch, USA TODAY reports.

  • *Halliburton says job cuts to be in line with primary competitors. Jan 20- Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices. Baker Hughes, which is being acquired by Halliburton in a near- $35 billion deal, said earlier in the day it would lay off 7,000...

  • Halliburton, Baker Hughes see a tough 2015 Tuesday, 20 Jan 2015 | 10:22 AM ET

    Baker Hughes and Halliburton posted better-than-expected profits, but warned that a drop in drilling due to weak oil prices would hurt results in 2015.

  • *Baker Hughes fourth-quarter adjusted profit $1.44 vs est $1.07. Jan 20- Oilfield services provider Baker Hughes Inc said it expects to lay off about 7,000 employees, days after industry leader Schlumberger Ltd said it would cut jobs as drilling activity slows due to a steep fall in oil prices. Halliburton, which is buying Baker Hughes in a near- $35 billion deal,...

  • Jan 20- Oilfield service providers Baker Hughes Inc and Halliburton Co posted better-than-expected quarterly profits on resilient demand, but warned that a fall in drilling activity due to weak oil prices would hurt results in 2015.. Halliburton, which is buying Baker Hughes in a $35 billion deal, said it took a $129 million restructuring charge in the fourth...

  • Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when that country's relations with the West are under strain and as energy prices hit multiyear lows. Schlumberger said last week that it would cut 9,000 jobs in response to falling oil prices, which have forced other energy companies to lower their...

  • MOSCOW, Jan 20- Oil services giant Schlumberger plans to buy a 45.65 percent stake in Eurasia Drilling for about $1.7 billion, potentially paving the way for it to become the sole owner of Russia's most active oilfield services company. The multi-stage deal announced by the companies on Tuesday will see U.S. group Schlumberger, which has been in a strategic...

  • Jan 20- Baker Hughes Inc posted a better-than-expected quarterly profit on resilient demand but the oilfield services company warned that recent declines in rig counts due to low oil prices would "clearly affect" results in 2015.. The number of rigs drilling for oil in the United States fell by 55 to 1,366 last week, the second-sharpest weekly drop in 24 years,...

  • Apache Corp., Baker Hughes and Schlumberger have begun laying off employees in response to the oil price crash in the past six months, The Tulsa World reported Saturday. Apache's job cuts will likely impact several hundred employees of the Houston- based oil and gas producer, which is one of the nation's bigger independent firms. But she would not specify how many...

  • In a stark sign of how a sudden, 60 percent drop in oil prices is biting, oil services giant Schlumberger Ltd on Thursday said it will reduce spending this year by 25 percent and fire 9,000 workers worldwide, surprising investors with the size of the cuts. "There is total chaos and uncertainty and it is impacting the whole ecosystem," said Aamer Sarfraz, chief...