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SLB Schlumberger Ltd

42.98
-0.83 (-1.89%)
15 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Schlumberger Ltd NYSE:SLB NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.83 -1.89% 42.98 43.46 42.61 43.46 12,740,546 00:57:59

Weatherford, Halliburton, Schlumberger Eye Mexico Gas Project

08/07/2009 6:12pm

Dow Jones News


Schlumberger (NYSE:SLB)
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Oil-services giants Weatherford International Ltd. (WFT), Halliburton Co. (HAL) and Schlumberger Ltd. (SLB) have submitted proposals for a natural-gas drilling contract in Mexico's Burgos basin, said state-run Petroleos Mexicanos on Wednesday.

Two Mexican companies, Industrial Perforadoa de Campeche and CCC Fabricantes y Construcciones, also submitted proposals. Pemex, as the state-run oil company is known, is looking to boost natural-gas output at Burgos, which pumped 22% of Mexico's gas in May.

The three-year contract is scheduled to start in mid-August, according to documents on Compranet, the government procurement Web site.

Mexico is increasing oil investments this year, even though prices have fallen compared with 2008, providing opportunities to major oil-service firms at a time when most oil companies are slashing budgets to adjust to lower prices.

Mexico is spending heavily to reverse a decline in oil production and expand natural-gas output. The company expects to increase capital expenditures by about 10% this year to $20 billion.

-By Peter Millard, Dow Jones Newswires; 5255-5001-5724; peter.millard@dowjones.com

 
 

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