Schlumberger Limited (SLB) is well known for its continuous endeavor toward product development and technological improvement to serve its customers better. Recently, it released the Merak Peep 2010 software, which allows its clients to proactively respond to complex operational conditions and rapidly answer their unique business challenges.
The company claimed that the new reserve management software is user friendly and delivers personalized views for different users and teams, enabling greater efficiency and quality control. The software has an ability to provide fit-for-purpose solution, which makes economic evaluations of reserves simpler and faster with a lower chance for errors.
Schlumberger has taken inputs from fifteen oil and gas companies including majors, nationals and independents to build this software. The extensive use of inputs from different sources provides capability to calculate project economics anywhere in the world.
While this best-in-class software is an example of the company's initiative toward organic development, Schlumberger is fairly active on the inorganic front as well. In March, the company acquired two smaller companies, Nexus Geosciences and Geoservices, to strengthen its technological portfolio.
The first transaction boosted Schlumberger's position in the area of integrated seismic software and services for rapid imaging, modeling and interpretation. The second helped Schlumberger specialize in mud logging and production surveillance operations.
We believe the company is favorably positioned to operate within the current trends of oilfield services, given improving operator spending, a pickup in offshore drilling, the rise in seismic demand and greater need for stimulation and completion services in North America. Schlumberger should also benefit from its dominant position in the Middle East/Far East and extensive product and technology portfolio. The stock is currently rated Neutral with the Zacks #3 Rank (Hold).
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