The international energy company, Schlumberger Limited reported a drop in fourth quarter earnings but stated that its full year revenue was up 8 percent.
A firm with major operations in Oklahoma, Schlumberger reported full year revenue of $32.8 billion while the fourth quarter revenue of $8.2 billion was down 4 percent. Still, the company approved a 50 cent a share quarterly cash dividend as of Jan. 18, 2019.
Its North America full year revenue was up 26 percent and down 6 percent in Latin America. Small increases of one and 2 percent were reported in Europe, Africa, the Middle East and Asia.
Company chairman and CEO Paal Kibsgaard credited the North America revenue increase drove the company’s full-year 2018 performance where revenue totaled $12 billion.
“Production revenue of $12.4 billion increased 17%, while Drilling revenue of $9.3 billion improved 10%,” he said.