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OFS - Smith & Cameron impairments send Schlumberger to $11B loss - October 2019



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Schlumberger posted a Q3 net loss of $11.3 billion, its largest quarterly loss in at least a decade. The decline stemmed from a $12.7 billion impairment charge that overwhelmed revenue gains as peak summer activity boosted international results. The company is stacking US frac equipment as it rolls off contracts and will complete a strategic review of North American land operations in Q4 for execution early next year. Most of the impairment came from......
 
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