SLB Oil Partnership

Schlumberger Ready to Run to $100

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Schlumberger has been a strong stock for the past year now. Looks like 2012 will be no different than 2011. Based on current projects and partnerships, they could be going strong all the way to $100. The Trefis Team explains the kinds of moves that will make SLB pop.

Leading energy services firmsSchlumberger signed a cooperation agreement with British energy services firm Petrofac that would allow the firms to work together on projects from various clients. [1]

Petrofac became the first international oil company to operate in Mexican fields after it won a contract there last year. [2] The company has a plan to expand aggressively over the next few years, and this agreement will help it bid for larger projects.

Joint projects

The agreement between Schlumberger and Petrofac will help the two companies combine their complementary capabilities. Petrofac’s surface facility design capability and installation and operational capabilities, combined with Schlumberger’s subsurface and technical know-how, will help the two companies offer a performance-driven commercial model. [1]

Overall, SLB is set to make some cash for the company and for their investors. Keep an eye on this partnership, depending on what these two companies work on together, it could mean even better news for SLB. Happy investing!

Quotes taken from report by Trefis Team, Read the entire article here.

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