Nearly a year after Schlumberger, the world’s largest oil-field services company announced it was cutting nearly 21,000 jobs amidst the pandemic and its impact on the oil and gas industry, the company is moving ahead with disposal of some of its operations in Oklahoma.
Schlumberger’s surplus property in Elk City will be auctioned off this month. The 13-acre site at 2802 West 7th street includes a more than 54,000 square foot building that was built in 1990.
An advertisement by Williams & Williams Auction indicated a rail spur line also enters the property. The company is handling other Schlumberger surplus property sales across the U.S. including some in Arkansas, Texas, Michigan, Georgia, Ohio and Pennsylvania.
The Elk City auction will begin at 12 pm. on June 30 but the property will be open for public inspections on June 11 and again on June 18.
In July 2020, the company announced it had recorded $3.7 billion in impairment charges in the second quarter including $1 billion in job cuts which represented nearly one-fifth of the firm’s workforce.
In April of this year, Schlumberger saw improvements with worldwide revenue of $5.2 billion and North America revenue of $972 million. But in the fourth quarter of 2020, the company also was moved to divest some of its North America operations.