SLB beat Wall Street estimates for fourth-quarter profit on Friday, helped by steady demand for its oilfield equipment and services in North America.
U.S. crude production was expected to hit a record 13.41 million barrels per day in 2025, according to Energy Information Administration forecast, benefiting oilfield services companies.
Quarterly revenue from SLB’s North America segment was $2.21 billion, compared with $1.75 billion a year earlier.
The world’s top oilfield services provider reported an adjusted profit of 78 cents per share for the three months ended December 31, compared with analysts’ average estimate of 74 cents, according to data compiled by LSEG.
(Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj Kalluvila)