Schlumberger says "confident" in ability to drive financial performance Says M&A to play key role in how company drives technology innovation. Says assuming no significant changes to operating environment in the coming 3-year period.Sees annual growth in global economy of 3%-4%. Sees oil demand up 1%-1.5% per year. Sees oil production outside the U.S. dampened by project delays, geopolitical supply disruptions. Sees brent over $100 per barrel from 2015-2017. Sees a "well balanced" oil market through 2017. Sees gas markets remaining relatively tight outside the U.S. Sees 2015-2017 growth in total industry E&P CapEx spend 6%-7%. Sees 2015 exploration spending "subdued," sees renewed industry focus on exploration in 2016-2017. Sees continued growth in deepwater activity. Comments made at the company's 2014 Investor Conference.
Schlumberger won't buy stake in Russia's Eurasia Drilling, WSJ says Schlumberger's $1.7B deal for a stake Russia's onshore drilling firm Eurasia Drilling has been called off after Russian authorities failed to approve the deal by Schlumberger's deadline, says the Wall Street Journal. Reference Link