Paul Kibsgaard Sustained demand growth provides foundation “let’s turn to the oil market where a sustained growth and demand continues to provide a much needed foundation for the outlook leaving little reason for concern over this part of the oil … Continued
Paal Kibsgaard North America investment increasing, but ROW underinvesting “Turning next to the business outlook. We maintain our constructive view of the oil market, and we made further inventory growth in the second quarter, driven by the OPEC and non-OPEC … Continued
Schlumberger’s (SLB) CEO Paal Kibsgaard on Q4 2016 Results North America revenue up 4% sequentially “In North America, overall revenue increased 4% sequentially driven by an improving land business in the US and Western Canada as drilling and completions activity … Continued
Schlumberger’s (SLB) CEO Paal Kibsgaard on Q3 2016 Results We have indeed reached the bottom of the cycle “After seven quarters of unprecedented activity decline, the business environment stabilized as expected in the third quarter, confirming that we have indeed … Continued
Schlumberger NV (SLB) Paal Kibsgaard on Q2 2016 Results We have now reached the bottom of the cycle “. In the second quarter, market condition worsened further in most parts of our global operations. But in spite of the continuing … Continued
Schlumberger (SLB) President of Operations Patrick Schorn doesn’t think oil is going back to its recent highs “The current downturn is now 20 months long since the US land rig count peaked in October 2014. It already outpaces that of … Continued
Schlumberger NV (SLB) Paal Kibsgaard on Q1 2016 Results The industry is displaying signs of a full scale cash crisis “Activity fell sharply in the first quarter, as the industry displayed clear signs of facing a full-scale cash crisis. We … Continued
Source: John Deere Annual Report John Deere (DE) CEO Sam Allen said the farm equipment recession of the last few years has been the worst in nearly a century “In relation to the farm economy’s robust years earlier in the … Continued
Paal Kibsgaard Annual budgets were exhausted well before the half way point of the quarter “For many of our customers, available cash and annual budgets were exhausted well before the half way point over the fourth quarter, leading to unscheduled … Continued
During the recent slump in the price of oil, Schlumberger cited North America as their weakest geographic zone “The asset impairment charges largely relate to our North America business, which as you know has been the hardest hit during this … Continued