- Earnings: $0.85/share
- Revenues rose 58% (to $9.07 billion from $8.7 billion)
- During the past quarter, SLB repurchased 6.1 million shares of its common stock
- Impact of deep water drilling moratorium in US Gulf of Mexico: about 5 cents/share
- Expectations: a "stronger" year coming up in 2011 for Schlumberger
- Current price of SLB: $85; SLB bought back 27 million shares for average price of $64
- Increases dividend 19% to 25 cents
Mexico just announces policy that will allow increased opportunities for Schlumberger in the Gulf of Mexico; on CNBC, no link yet.
Idle rambling (I probably shouldn't post this and will probably delete it later, if I remember):
CNBC says "Mexico needs to get its act together" and that "Mexico oil industry is being run by politicians." (January 21, 2011, 6:35 a.m.)
Okay, the US has a de facto moratorium on drilling in the Gulf put in by the administration. And CNBC says Mexico's oil industry is run by politicians and "needs to get its act together."
Am I missing something here? Yes, I know it's a stretch, but...
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