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SLB
#1
Looks like Schlumberger is not overly worried about longer term prospects for crude E & P. Boosted dividend by 25%, bought over $1B in shares, and now this, not only a decent sized purchase, but also discounting long lasting effects of any sanctions on Russia. Looks to me like they are rewarding investors, cutting costs for short term, but are making opportunistic purchases for the long run. I bet they come out of this cycle being more dominantly positioned than they were before.

"SLB will pay $1.7 billion for a stake in Eurasia Drilling Co(EDCL), a bet by the world’s largest oilfield services provider that economic sanctions won’t hold back Russia’s energy industry.

Schlumberger, based in Houston and Paris, will pay $22 a share for a 46.45 percent holding in London-traded Eurasia Drilling, according to a statement today. Schlumberger has an option to buy the rest of the company’s shares three years after the deal closes."

Bloomberg article
Alex
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