Barclays Maintains an 'Overweight' on Schlumberger (SLB); CEO Highlights 'Vision' at Conference

Barclays maintains an 'Overweight' on Schlumberger (NYSE: SLB) price target of $98.00.

Analyst, James C. West, made note of the company's CEO, Paal Kibsgaard, who presented at Barclays CEO Energy Conference. Kibsgaard offered up the company's vision for the next generation of oil services. The vision included integrating various product line into a package (to meet today's complexities of drilling environments) and using a more scientific approach, being safer and faster.

SLB estimates that there will be over 200 new subsea fields coming online in the next for years.

A Total Subsea System Optimization Requires More Pieces: "SLB is a leader in reservoir characterization and multiphase boosting and metering (Framo), and has a significant presence in ESPs. A complete system would require additional subsea hardware."

For an analyst ratings summary and ratings history on Schlumberger click here. For more ratings news on Schlumberger click here.

Shares of Schlumberger closed at $71.25 yesterday.

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