You don’t need to venture into an American Indian casino in Oklahoma to gamble. Just do what Schlumberger’s doing—-getting into the oil and gas production end of the industry.
The world’s largest oilfield services firm has apparently decided it wants to get in on the ownership action of upstream oil and gas production. Reports indicate the company has put billions on the line to become an oil and gas producer.
Reuters reported this week how the ‘gamble’ might even cause other servicing companies to do the same, such as Baker Hughes, the service company owned by General Electric Co.
It should be noted the move could potentially expose the company to global oil price swings and big losses.