Saturday, December 15, 2012

Schlumberger Issues Disappointing Fourth Quarter Update

Schlumberger Limited (NYSE:SLB) provided the following fourth quarter operational update on Friday.

• The Europe/CIS/Africa Area is experiencing continued contractual delays combined with higher than usual seasonal slowdowns in activity

• North America activity is weaker than anticipated on land in the US and Western Canada.

The combined earnings per share impact of the above is estimated to be in the range of $0.05 to $0.07 per share.

Schlumberger will discuss final results of the fourth quarter in detail during its previously announced fourth quarter earnings conference call on January 18, 2013, beginning at 9:00 am (US Eastern Time), 3:00 pm (Paris time).

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