Schlumberger expects reactivation costs to squeeze margins

Shares of the company, whose quarterly profit nearly halved due to a jump in costs, fell as much as 4.4% to US$73.18, their lowest in nearly a year.

BENGALURU: Schlumberger NV has warned that margins would remain under pressure as the oilfield services provider spends more to bring back idled equipment to meet rising demand from North American shale producers after a two-year lull.

Shares of the company, whose quarterly profit nearly halved due to a jump in costs, fell as much as 4.4% to US$73.18, their lowest in nearly a year.