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Schlumberger expects rocky 2019 in North America
Schlumberger is more negative on 2019 than it was three months ago. It now expects US onshore E&P spending to be flat or slightly below 2018 levels with a sluggish start to this year, CEO Paal Kibsgaard said. In 4Q18, its North American revenue fell 12% from 3Q18 to $2.82 billion, flat from 4Q17, as crude prices went through what Kibsgaard called “a near-perfect storm to close out 2018.” Crude prices were already under......
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