March 18, 2013 at 16:37 PM EDT
Schlumberger CEO: U.S. Oil Activity Was Weak In Q1
Schlumberger (SLB) fell nearly 4% Monday after the world's largest oilfield services company said North American activity was weaker than expected in first quarter. "In North America, first-quarter activity is coming in below expectations as our customers have reactivated fewer rigs than they initially targeted," after a holiday slowdown, Schlumberger CEO Paal Kibsgaard said in a keynote address at the Howard Weil Conference in New Orleans. The
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