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Schlumberger and Weatherford to Form OneStim Joint Venture
New company targets
Schlumberger will manage the joint venture and consolidate it for financial reporting purposes.
Schlumberger Chairman and CEO
Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts and projections regarding the expected benefits of the proposed transaction; the expected timing of the completion of the transaction; the parties’ ability to complete the transaction considering the various regulatory approvals and other closing conditions; future opportunities for the joint venture and its products and services; and any other statements regarding the parties’ or the joint venture’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to, among other things, satisfaction of the closing conditions to the proposed transaction, the risk that the proposed transaction does not occur, negative effects from the pendency of the proposed transaction, the ability to realize expected benefits from the proposed transaction, the timing to consummate the proposed transaction, and other risk factors contained in Schlumberger’s and Weatherford’s most recent Forms 10-K as well as each company’s other filings with the
Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 713 375 3535
Christoph Bausch – Weatherford, Acting Chief Executive Officer, EVP and CFO
Tel: +1 713 836 4615
Karen David-Green – Weatherford, Vice President Investor Relations, Marketing & Communications
Tel: +1 713 836 7430
Joao Felix – Schlumberger Limited, Director of Corporate Communication
Tel: +1 713 375 3494