Schlumberger’s Gamble Could Change Oilfield Services Forever

The world’s largest oilfield services firm has decided that it should take an ownership stake in upstream oil and gas production, rather than simply provide the services for doing so. The new strategy is being closely watched as a potential model for the major oilfield services companies that have drilling prowess but struggle with lackluster activity in a world of $50 oil. Schlumberger has decided to put billions of dollars on the line to become an oil producer, not just a drilling servicer. Typically, Schlumberger and its peers provide…

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