These amounts are included within Other Assets in Schlumberger’s Condensed Consolidated Balance Sheet. Schlumberger is leading the industry in the development of Digital solutions to increase performance in drilling and reservoir characterization. After already furloughing employees, modifying work schedules, and voluntarily cutting executive salaries, Schlumberger is cutting jobs in Houston and shutting down two facilities in Texas. Certain prior period amounts have been reclassified to conform to the current period presentation. This second-quarter 2020 earnings release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts, such as our forecasts or expectations regarding business outlook; growth for Schlumberger as a whole and for each of its product lines (and for specified products or geographic areas within each product line); oil and natural gas demand and production growth; oil and natural gas prices; pricing; Schlumberger’s response to, and preparedness for, the COVID-19 pandemic; access to raw materials; improvements in operating procedures and technology; capital expenditures by Schlumberger and the oil and gas industry; the business strategies of Schlumberger and Schlumberger’s customers; Schlumberger’s digital strategy; Schlumberger’s restructuring efforts and charges recorded as a result of such efforts; our effective tax rate; Schlumberger’s APS projects, joint ventures, and alliances; future global economic and geopolitical conditions; and future results of operations. Office +1 (713) 375-3535 The service—comprised of BroadBand Shield* fracture-geometry control technology and the equipment required—was deployed in conjunction with a pumping and wellsite equipment services provider. GAIA Data Discovery and Marketplace Platform, ConcentraFlo Pipeline Chemistry Solutions and Service, ChemWatcher Integrated Chemical Management System, Process Live Data-Enriched Performance Service, ACTive Real-Time Downhole Coiled Tubing Services, CoilTOOLS CT Intervention Tools and Solutions, ProActive Drilling Asset Management Services, Schlumberger Announces Second-Quarter 2020 Results, Q2 2020 Earnings Release, with Financial Tables, Q2 2020 Earnings Conference Call Prepared Remarks, Q2 2020 Earnings Conference Call Transcript, (Stated in millions, except per share amounts), Diluted EPS (loss per share) - GAAP basis, Diluted EPS, excluding charges & credits*, Shares issued under employee stock purchase plan, Average shares outstanding, assuming dilution, Amortization of multiclient seismic data costs capitalized, Costs associated with exiting certain activities, Worldwide revenue of $5.4 billion decreased 28% sequentially, International revenue of $4.1 billion decreased 19% sequentially, North America revenue of $1.2 billion decreased 48% sequentially, GAAP loss per share, including charges and credits of $2.52 per share, was $2.47, EPS, excluding charges and credits, was $0.05, Cash flow from operations was $803 million and free cash flow was $465 million, Board approved quarterly cash dividend of $0.125 per share. Click below to get started. 9) What was the unamortized balance of Schlumberger’s investment in APS projects at June 30, 2020? How does this reconcile to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share, excluding charges and credits? Drilling pretax operating margin of 10% contracted by 289 bps sequentially, posting a 21% decremental operating margin. By techstaffer in Schlumberger on December 11, 2020 December 11, 2020. A week after Baker Hughes Co. announced the layoff of more than 200 workers at its Oklahoma City operations, the company said it would lay off more than 180 people in Houston where it is headquartered. North America and international revenues declined 17% and 20%, respectively. Average benefits with 6% matching 401K (good luck making it to fully vested status). Baker Hughes follows OKC layoffs with more in Houston April 24, 2020 . The increasing number of horizontal wells undertaken by CNPC each year has made the differentiated technology of the ThruBit services platform essential to their reservoir evaluation strategy. Up to 90 staff of OneSubsea, a subsea services and equipment subsidiary of oilfield services giant Schlumberger, are part of the consultation to reduce the company’s headcount in Portlethen. Employee termination are expected to be permanent. North America and international revenues declined 48% and 18%, respectively. “This has probably been the most challenging quarter in past decades. Includes a $42 million increase to the allowance for the doubtful accounts. 7) How many shares of common stock were outstanding as of June 30, 2020 and how did this change from the end of the previous quarter? See sections titled "Charges & Credits" and "Segments" for details. June 8, 2020 Williams & Williams, a real estate auction firm based in Dallas, will auction 20-plus properties for oilfield services company Schlumberger during a two-week period in June. APS investments will be about $300 million in 2020 as compared to $781 million in 2019. Repsol announced a significant discovery just days after the survey. “First, our cash flow from operations was $803 million and we generated $465 million of free cash flow despite significant severance payments during the quarter. Schlumberger has already implemented a furlough program in Houston earlier this year. The parent well experienced no detrimental production impact following the infill well’s stimulation treatments, indicating no negative fracture interference. A spokeswoman for OneSubsea said the firm had been “severely impacted” by the economic consequences of the Covid-19 pandemic and the decline in oil price. It involved wellbores with up to 80° of inclination and large overbalance, resulting in approximately USD 2 million in operating cost savings. The contract, valued at USD 143 million, includes subsea trees, an integrated boosting and manifold system, a unified control system, an integrated power-control umbilical, a virtual flow metering solution, and estimated services. On July 23, 2020, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on October 8, 2020 to stockholders of record on September 2, 2020. The weighted average number of shares outstanding was 1.388 billion during the second quarter of 2020 and 1.387 billion during the first quarter of 2020. The approach will use a combination of automated, traditional domain workflows and workflows driven by machine learning and AI to rapidly provide insights into development strategies for optimizing production across the life cycle of the assets. 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