The largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday better-than-expected earnings for the fourth quarter and, like its rivals Halliburton and Baker Hughes, expects spending and activity levels to gain momentum this year. Schlumberger’s earnings per share (EPS), excluding charges and credits, rose by 37 percent sequentially to $0.22, beating estimates of $0.17 of Refinitiv IBES. Schlumberger’s revenue also rose, by 5 percent sequentially, driven by strong activity and solid execution both in North America and in the international markets. Revenue in North America increased by 13 percent in Q4 compared to Q3. The three largest oilfield services providers in the world—Schlumberger, Halliburton, and Baker Hughes— all reported losses for the third quarter . Yet, those losses were significantly lower than the ones seen in the second quarter, “the most challenging quarter in past decades,” as Schlumberger’s chief executive Olivier Le Peuch had said. The […]