SLB to Soar Over $100
Schlumberger is one of our favorite oil service stocks for 2011, and it looks like they are making some good moves at the moment. With their stock anticipated to reach $105, they must have some new projects in works. The Trefis Team has discovered their recent acquisition and explains why it could lead SLB on the path of a $100 stock.
"Schlumberger has acquired the remaining equity in the privately-held Framo Engineering AS.  The Norwegian firm will augment Schlumberger’s existing capabilities in subsea flow assurance and surveillance capabilities. This should help the company gain an edge over competitors likeHalliburton and Baker Hughes in the growing market for services that enhance production at declining oil fields…
…Framo’s Technology Has Strong Potential
The 500-member strong Framo Engineering is a leading player in the design and development of multiphase subsea pump & meter systems and other technology focused on the deepwater market.  Paal Kibsgaard, Chief Operating Officer of Schlumberger, commented that the transaction was an important step for the company in its efforts to provide solutions to improve hydrocarbon recovery and lower costs in the subsea environment…"
Find additional research here: http://turnkeyoil.com/2011/07/08/slb-to-soar-over-100/