Schlumberger, with its operations in Oklahoma and other oil-producing states in the U.S. announced a 5% increase in its worldwide revenue of $8.3 billion in the second quarter of 2019.
The Paris-based company’s North America revenue was $2.8 billion or 2% higher than the previous quarter. International revenue was $5.5 billion or 8% more.
The increased revenue resulted in a quarterly cash dividend of 50 cents a share.
Company leadership said their international rig counts grew 6% from the first quarter and 5% compared to a year ago. But North American land revenue was up 1% from the first quarter while the North America offshore revenue grew by 10%.
Double-digit year-over-year growth during the first half of 2019 was posted in the Mexico & Central America, Latin America North, Sub-Sahara Africa, and Far East Asia & Australia GeoMarkets while high, single-digit growth was seen in the United Kingdom & Continental Europe, Eastern Middle East, and South & East Asia GeoMarkets.
During the second quarter, sequential international growth was led by the Europe/CIS/Africa area, where revenue increased sequentially by 11% driven by activity that strengthened beyond the seasonal recovery in the Russia & Central Asia and United Kingdom & Continental Europe GeoMarkets. Sequential international growth was also driven by a 19% improvement in the Far East Asia & Australia GeoMarket and a 12% increase in the Latin America area while revenue in the Middle East region grew 3%.