HOUSTON, TX — In a press release last Thursday publicising their fourth-quarter and full-year 2015 results, Schlumberger announced they cut 10,000 jobs during the quarter. We reached out to them about how these cuts impacted Wyoming, but no such information is currently available.

In anticipation of an extended activity weakness in the first half of 2016, we implemented another significant adjustment to our cost and resource base during the fourth quarter.  This included a further workforce reduction of 10,000 employees, as well as greater streamlining of our overhead, infrastructure and asset base.

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Their fourth-quarter report showed declines in multiple areas.

• 9% sequential decrease in revenue on account of declining rig activity and pricing pressure
• 14% decrease in North American revenue on account of a 15% decline in the U.S. land rig count
• 6% international revenue decline on account of customer budget cuts, the usual winter slowdown, and other factors