Schlumberger plans international recovery and plans for double-digit growth

(Reuters) – Schlumberger on Friday announced a recovery in international oil markets, forecasting double-digit growth in its largest segment next year, with higher oil prices supporting more expensive drilling projects .

The Houston-based company, a standard bearer for the oil services industry, has benefited from increased production in North American shale fields, but has found it difficult to see improvements in international markets since the 39, collapse of oil prices in mid-2014.

Brent Brut, the world benchmark, surpbaded $ 80 per barrel in the second quarter, its highest level in about three and a half years thanks to the efforts of major oil producers to reduce production and stabilize prices and disruptions of the offer.

Schlumberger's international business revenue declined 1.4% year-over-year to $ 5.07 billion, but increased 4% sequentially.

"The scaling up has finally begun," said CEO Paal Kibsgaard during the second quarter conference call.

He expects the international business activity to be fully mobilized in the fourth quarter of this year and expects double – digit growth for this segment next year.

"That's what people were looking for – the inflection in international trade." It's starting to materialize now, "said Edward Muztafago, an badyst at Societe Generale, referring to the sequential growth of

Shares of Schlumberger, the largest oil services company in the world, rose 1.6% to $ 67.96 in early trading on Friday.

Schlumberger's business in North America jumped by about 43% to $ 3.14 billion.

Schlumberger warned that pipeline constraints in the Permian Basin could slow growth in the months to come, but said that he planned to continue to deploy hydraulic fracturing fleets.

The service company has not yet seen any impact on growth or Permian prices because of pipeline constraints, said In 1965, Schlumberger, seeking to vertically integrate his operations, indicated that he now owns several sand mines and that he has the ability to cover 100% of his current hydraulic fracturing works and planned in the United States.

Total business figure rose 11.3% to $ 8.30 billion, but missed badysts' estimate of $ 8.36 billion, according to Thomson Reuters I / B / E / S.

The Company reported attributable net income of $ 430 million, or 31 cents per share, in the second quarter ended June 30, compared with a loss of $ 74 million, or 5 cents per share , one year earlier.