Now Schlumberger Is Making A Monster, $11 Billion Bet On Shale

Early this morning, oil service company Schlumberger Limited (SLB) announced it would be acquiring Smith International (SII), an oil and gas equipment maker, for $11 billion or $45.84 per share.

In a press release, Schlumberger says that Smith International’s drilling technologies will compliment Schlumberger’s and help the company advance its exploration technologies, with special regard to adverse drilling conditions.

Adverse drilling conditions: That means shale.

This is just the latest bullish shale bet, the mot notable being the Exxon/XTO merger;

Want to see why companies are so bullish on shale?

Read Exxon’s case for shale here >

SLB Feb22

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