Schlumberger to Cut Venezuela Activity; Reaffirms 1Q Rev. View
Source: BFW (Bloomberg First Word)
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SLB US (Schlumberger Ltd)
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UUID: 7947283
(Bloomberg) -- Schlumberger to reduce activity in Venezuela to align operations with cash collections, citing insufficient payments received in recent quarters and “lack of progress” in establishing new mechanisms that address past and future accounts receivable.
Alert: HALISTER- Reaffirms 1Q rev. forecast $6.5b (March 21), est. $6.68b
- SLB unable to increase accounts receivable balances beyond current level
- Remains “fully committed” to supporting Venezuelan exploration and production industry
- Reduction in activity levels to take place over current month
Source: BFW (Bloomberg First Word)
Tickers
SLB US (Schlumberger Ltd)
To de-activate this alert, click here
UUID: 7947283