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Does the Rig Count Affect SLB’s International Revenue?



Revenue from international operations

In 2Q16, Schlumberger’s (SLB) revenue share generated outside the United States rose. SLB’s revenue from international geographies rose to 76% of its total 2Q16 revenue, compared to 72% in 2Q15.

By comparison, Halliburton’s (HAL) revenue from its international operations, fell to ~43% of its total revenue by the end of 2Q16, compared to 50% a year ago.

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International rig count

By July 31, 2016, the international rig count had fallen by 16% compared to a year ago. The fall was less than the US rig count’s fall, which nearly halved in the year leading up to September 2, 2016. SLB makes up 0.50% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.5% of IYY.

Next, we’ll discuss Schlumberger’s revenue and earnings.


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