Schlumberger’s Terrifying Moment Of Truth About The US Energy Sector

Friday, January 22, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
01/22/2016

Having laid off 10,000 employees (and boosted his share buyback program by $10 billion – because that has worked out so well in the past), it appears Schlumberger CEO Paal Kibsgaard unleashes some very uncomfortable truthiness on his audience this morning during the earnings call… “For many of our customers, available cash and annual budgets were exhausted well before the halfway point for the fourth quarter… as pricing levels for frackers has dropped into unsustainable territory.”</strong>

The Rest…HERE

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