April 21, 2017 / 11:14 AM / 4 months ago

BRIEF-Schlumberger posts qtrly GAAP EPS of $0.20

April 21 (Reuters) - Schlumberger Nv:

* Qtrly GAAP EPS, including Cameron integration charges of $0.05 per share, was $0.20

* Qtrly revenue of $6.9 billion decreased 3 pct sequentially

* Q1 pretax operating margin of 11 percent versus 13.8 percent last year

* Qtrly EPS, excluding Cameron integration charges, was $0.25

* Capex (excluding multiclient and SPM investments) is expected to be $2.2 billion for 2017

* In the first quarter, the North America land market continued to strengthen in terms of both activity and pricing

* In north america, revenue grew sequentially as unconventional land activity accelerated in quarter, partially offset by decline in offshore activity

* Underinvestment in new supply increasing likelihood of medium-term supply deficit as reservoirs are produced but reserves not replaced in sufficient volume

* In international markets, Q1 revenue impacted by greater than expected seasonal decline in activity & sales, particularly in China, Russia land

* In international markets, qtrly revenue declined 7 pct sequentially, driven by a greater than expected seasonal decline in activity and sales

* Q1 earnings per share view $0.25, revenue view $6.96 billion -- Thomson Reuters I/B/E/S

* On April 20, board of directors approved qtrly cash dividend of $0.50 per share, payable on July 14, 2017

* Saw lower sequential activity in key parts of the middle east in Q1

* On April 12, co, YPF announced signing of preliminary agreement for JV in shale oil pilot project in Bandurria Sur block in Vaca Muerta

* Agreement with YPF involves $390 million phased investment by co, including significant contribution in-kind of services at market pricing

* Schlumberger says industry cash flow and productivity remain under pressure and limit industry’s ability to increase present levels of E&P investment

* Co will acquire 49 pct interest in JV, and the remaining 51 pct, along with the operatorship of the block, will be held by YPF Source text for Eikon: Further company coverage:

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