Schlumberger Limited's revenue 2008-2019

Schlumberger generated 32.9 billion U.S. dollars in revenue in the 2019 financial year. Founded in France in 1926, today the company is the largest oil service provider worldwide, with four main offices in Houston, Paris, London, and The Hague.

Investment in hydraulic fracturing

Schlumberger Limited is a major manufacturer of the technology used in hydraulic fracturing, which gained speed in the United States following instability in the global oil market during the 2008 financial crisis. Now an economically viable method of extraction, hydraulic fracturing (or “fracking”) made shale and tight oil accessible to U.S. drilling companies, with large reserves of sandstone in Texas and North Dakota.

Shale oil shifts the market

Like many other oilfield services providers in the 2010s, Schlumberger initially recovered from the global recession, nearly doubling its revenue from 2008 to 2014. As the shale oil market expanded, crude oil production in the United States soared, and an oversupply soon followed. After 2014, revenue plummeted across the industry, leading Schlumberger to shift its focus in recent years from its U.S. shale operations to projects in Africa, Asia, and Latin America.

Schlumberger Limited's revenue from 2008 to 2019

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Release date

January 2020



Survey time period

2008 to 2019

Supplementary notes

This statistic was assembled from several annual reports.

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Statistics on "United States oil industry"

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