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SeaDrill Limited Message Board

  • buffet_munger buffet_munger Dec 14, 2012 10:43 PM Flag

    Schlumberger Warns On Q4 Over N. America Drilling: SDRL:$33-$35 next ???


    We should see $33-$35 next....!!!

    Schlumberger Warns On Q4 Over N. America Drilling
    By Gillian Rich, Investor's Business Daily
    Posted 01:17 PM ET

    Schlumberger (SLB) warned shareholders of its fourth-quarter results Friday due to weaker-than-expected drilling activity in North America as natural gas prices remain at record lows. The world's largest oil field services company also expects contract delays in Europe and Africa.

    Its shares fell 5.5% in midday trading Friday.

    Schlumberger said the earnings impact is estimated at 5 to 7 cents per share.

    Getty View Enlarged Image

    Analysts at Dahlman Rose cut Schlumberger's EPS expectations to $1.07 from $1.13.

    As natgas prices in North America continue to tumble, energy producers are moving drilling equipment from the natural gas regions in Appalachia to rich oil sand fields in Canada. The cost of moving is expensive and the downtime for moving weighs on production.

    Competitors Halliburton (HAL) and Baker Hughes (BHI) have also been affected by the shift in drilling. Halliburton earnings had been decelerating the past three quarters before it reported a drop in EPS last quarter.

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10.74+0.4400(+4.27%)Jan 30 4:01 PMEST

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