SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 10, 2010
SCHLUMBERGER N.V. (SCHLUMBERGER LIMITED)
(Exact name of registrant as specified in its charter)
| Netherlands Antilles | 1-4601 | 52-0684746 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
42, rue Saint-Dominique, Paris, France 75007
5599 San Felipe, 17th Floor, Houston, Texas 77056
Parkstraat 83, The Hague, The Netherlands 2514 JG
(Addresses of principal executive offices and zip or postal codes)
Registrant’s telephone number in the United States, including area code: (713) 513-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure. |
| Item 8.01 | Other Events. |
Schlumberger Limited (“Schlumberger”) issued a press release on June 10, 2010, discussing the effect on its US operations following the recent six-month moratorium announced by the Minerals Management Service, as well as other matters relating to its North American operations. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibit is furnished in response to Item 7.01:
| 99.1 | Press Release dated June 10, 2010 |
Forward-Looking Statements
The attached press release contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts, such as our forecasts or expectations regarding business outlook; drilling activity in the Gulf of Mexico and elsewhere; the business strategies of Schlumberger’s customers; and relocation of equipment and personnel. These statements are subject to risks and uncertainties, including, but not limited to, the current global economic downturn; changes in exploration and production spending by Schlumberger’s customers and changes in the level of oil and natural gas exploration and development; results of litigation and investigations; actions by third parties, including governmental agencies; general economic and business conditions in key regions of the world; pricing erosion; seasonal factors; and other risks and uncertainties detailed in our most recent Form 10-K and other filings that we make with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SCHLUMBERGER N.V. | ||
| (SCHLUMBERGER LIMITED) | ||
| By: | /S/ HOWARD GUILD | |
| Howard Guild | ||
| Chief Accounting Officer | ||
Date: June 10, 2010
Exhibit 99.1
Schlumberger Updates Activity Outlook
Houston, June 10, 2010—Schlumberger Limited (NYSE:SLB) announced today the effect on its US operations following the recently announced six-month Minerals Management Service (MMS) moratorium on certain drilling operations in the US Gulf of Mexico and on other matters relating to its North American operations.
Schlumberger Oilfield Services revenue attributable to the US Gulf of Mexico represented approximately 3.5% of consolidated Schlumberger revenue for the year ended December 31, 2009. In addition, WesternGeco US Gulf of Mexico revenue amounted to approximately 1.8% of consolidated revenue. The majority of these revenues related to the high-technology services and products deployed in deepwater operations.
Schlumberger Chairman and Chief Executive Officer Andrew Gould commented, “While the moratorium will impact on-going business activities, Schlumberger’s priority is to support its customers and employees as they safely wind down affected operations. The initial impact of the moratorium is subject to considerable uncertainty as our customers react to a sudden change in their operating plans and, consequently, we are assessing how to optimally redeploy skilled staff and available equipment to maintain operational flexibility.
In addition, as we have previously disclosed, and prior to recent events in the US Gulf of Mexico, our North America Land operations were undergoing a review to provide consistent response, enhanced reliability and greater operational efficiency. This review will now be accelerated and will take into consideration the impact of the drilling moratorium in the US Gulf of Mexico. Any charges associated with the resulting actions will be taken as early as the third quarter of 2010.
While the major impact of this moratorium will be seen in the US Gulf of Mexico, we can assume that other worldwide operations will see some more limited effects. Operators and regulatory bodies around the world will proceed with greater caution until the causes of the Deepwater Horizon tragedy are better understood and we have already seen instances of this. However, while the drilling moratorium in the Gulf of Mexico will present the deepwater industry with a challenging period, in the longer term deepwater production will remain an important source of future global oil supply.”
About Schlumberger
Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 83,000 people representing over 140 nationalities and working in more than 80 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.
Schlumberger Updates Activity Outlook, page 2
Schlumberger Limited has principal offices in Paris, Houston and The Hague. For more information, visit www.slb.com.
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For further information, contact
Malcolm Theobald – Vice President of Investor Relations
Robert Bergeron – Manager of Investor Relations
Office + 1 (713) 375-3535
investor-relations@slb.com