Schlumberger Foresees Double-digit International Growth, Offshore Pickup

Schlumberger Ltd. (NYSE: SLB), which saw an 11% jump in second-quarter revenue compared to a year ago, anticipates “double digit” international revenue growth in 2019 plus gains in the offshore and exploration segments.

But activity onshore will likely still be in the driver’s seat.

CEO Paal Kibsgaard delivered the positive outlook during an earnings call with investors July 20 following the release of the oilfield service company’s quarterly results.

“We are confident on the backlog we have of contract wins, and we know where these wins are and how it is going to shape up,” Kibsgaard said on the call. He cautioned detailed planning has not been done yet. “But in general, we see growth in all geographies next year. Land is still likely to be the driving force of it.”