Schlumberger? The Next Oil Major? -- September 9, 2017

At Reuters two days ago, data points:

• Schlumberger: world's largest oilfield services company
• spending billions of dollars buying stakes in its customers' oil and gas projects
• business model could upend rivals such as GE's unit Baker Hughes
• these other companies considering Schlumberger's model
• carries huge risks; some thing Schlumberger may be over-extended
• Schlumberger launched Schlumberger Production Management division in 2011
• generated $1.4 billion in revenue in 2016
• as of 1H17, SPM has investment portfolio of $2.6 billion
• SPM co-managed about 230,000 bopd at the end of 2016; about as much as one of the largest US independent producers, Pioneer Natural Resources
• Schlumberger: now, something new -- this year opened a standalone investment fund; size of fund not disclosed
• two of Schlumberger's newest partnerships:
• off the coast of Equatorial Guinea
• Argentina shale development with YPF SA