Schlumberger won a three-year drilling contract with the mexican oil company Pemex. The contract is for drilling services in Pemex's Chicontepec region.
SLB's quarterly net income fell form $1.38 billion ($1.12 per share) in the year-ago period to $1.15 billion (95 cents per share) this year. The company expects revenue and net income to be negatively affected in 2009 due to a decrease in American and Russian drilling operation.
Schlumberger announced that it plans to layoff up to 70,000 workers worldwide in response to falling profits and rising costs.
Schlumberger buys heavy-oil-extraction technology that uses radio frequencies and fluids from Raytheon.
Stock price rises by almost 20% as Schlumberger's SEC filings indicate another quarter of largely increased revenue and overall success.
Stock price falls by approximately 15% as crude oil prices fall.
Stock price rises by approximately 15% as Schlumberger takes over the entirety of Western Geco.