American energy giant Schlumberger reported a 6 percent increase in revenue in the first quarter of 2017, compared to the same period of 2016, the company announced on Friday.
Schlumberger said that its revenues rose to $6.89 billion from $6.52 billion with the recovery in crude oil prices and with greater hydraulic fracturing and drilling services.
'In the first quarter, the North America land market continued to strengthen in terms of both activity and pricing, leading us to begin accelerating deployment of idle capacity for multiple product lines. Revenue growth was led by hydraulic fracturing and drilling services, but was also increasingly supported by Artificial Lift, Surface Systems and Valves & Measurement,' said Chairman and CEO Paal Kibsgaard.
On the other hand, net income attributable to Schlumberger fell to $279 million in the first quarter from $501 million a year earlier.
By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr