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Stock Market & Financial Investment News

News Breaks
July 16, 2014
06:12 EDTPDS, SLBPrecision Drilling announces strategic agreement with Schlumberger
Precision Drilling (PDS) announced it had entered into a strategic technology and service agreement and marketing alliance with Schlumberger (SLB). The agreement aims to increase the industrialization of unconventional drilling in North America through an engineered approach that utilizes Precision's Tier 1 drilling rigs and allows Precision access to Schlumberger's bottomhole assembly and services. The agreement applies to Canada and the Lower 48 states in the U.S. and includes contract drilling services, downhole drilling and measurement technology, engineering expertise and operational training. Through this agreement, Precision will continue to expand its integrated directional drilling services utilizing Schlumberger's downhole tools and related services supported by drilling engineering and modeling, component integration, industry leading subsurface knowledge and expertise, and high-quality measurements.
News For PDS;SLB From The Last 14 Days
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October 28, 2014
05:57 EDTSLBStocks with implied volatility movement; SLB HPQ
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October 27, 2014
15:00 EDTPDSPrecision Drilling says expects number of rigs to rise through 2015
Says recent oil price slide is "concerning," but doesn't expect a reduction in drilling near term. Says winter drilling season should be strong. Says will deliver around 3 rigs per month over next several quarters. Says "could not be more pleased" with current strategy. Comments from company's Q3 earnings conference call.
14:08 EDTPDSPrecision Drilling sees FY14 CapEx $908M, down from prior view of $934M
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06:06 EDTPDSPrecision Drilling raises Q4 dividend by 17% to 7c per share
The board of Precision Drilling has declared a dividend on its common shares of 7c per common share, a 17% increase over the prior quarter. The dividend is payable on November 24, to shareholders of record on November 14.
06:05 EDTPDSPrecision Drilling reports Q3 EPS 18c, consensus 17c
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October 17, 2014
17:50 EDTSLBSchlumberger is inexpensive and has room to rise, Barron's says
Shares of Schlumberger have fallen recently, as has the rest of the energy sector, but the stock has room to rise and is relatively inexpensive compared to its historical valuation, Barron's reports. Revenue growth was strong across the board in the third-quarter, during which several major contracts were won. The stock is also trading at close to 14.5 times analysts’ estimates for the next 12 months’ earnings, well below its historical average of 20, Barron's added. Reference Link
08:58 EDTSLBSchlumberger sees FY15 exploration spending flat
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08:48 EDTSLBSchlumberger sees 5c-7c EPS growth in Q4 vs. Q3
Sees Libya and Russia continuing to have an affect on earnings during Q4. Libya's Q3 activity was down 50% year over year.
08:47 EDTSLBSchlumberger sees international earnings growth in FY15
Schlumberger management stated that Russian sanctions has a 2c per share impact on Q3. The company will re-size Libyan resources and oil rigs in Iraq are slowly going back into operation. Management stated that the company did several deals for artificial lift work. The company's outlook for global GDP growth softened slightly. The company sees Brent oil prices recovering and stabilizing. Management stated that global economic recover is remains intact. The company stated that global spare oil capacity is not increasing. Management stated that 10 new deep-water rigs are scheduled for delivery in Q4. The company sees a 6% decline in deep-water drilling, primarily driven by Brazil. The company sees FY15 deep-water drilling flat. The company sees FY 14 exploration spending down 4%-5%. Comments made during Q3 earnings conference call.

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