SLB NYSE SLB , the world’s largest oilfield services provider, reported on Friday 14% higher net income for the first quarter compared to the same period last year, amid strong international drilling demand that more than offset a weaker North American market. SLB has been saying for several consecutive quarters that it expects strong international drilling business going forward, boosted by a rebound in offshore drilling and growing demand for oil and gas. SLB saw its net income rise to $1.
“During the quarter, we continued to benefit from our favorable exposure to the international markets, with remarkable year-on-year growth of 29% in the Middle East & Asia, in addition to growth of 18% in Europe & Africa,” Le Peuch added. Following an “exciting start to the year”, SLB expects growth momentum to continue, the executive noted. “The oil and gas industry continues to benefit from strong market fundamentals driven by a growing demand outlook.
Drilling Crude Oil Profit Earnings Oilfield Services Income Q1 Revenue
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