Oil-and-gas companies aren’t anywhere close to drilling as much as they did in 2014, but some oil-field service companies are squeezing out profit as if they were.
Schlumberger said on Friday that its revenue grew 20% compared with a year earlier and raised its full-year guidance. Halliburton which has heavier exposure to North America, saw its top line grow 37% over the same period thanks to heady growth (55%) in the region.
Source: https://www.wsj.com/articles/oil-doesnt-have-to-boom-for-these-companies-to-thrive-11658506682?siteid=yhoof2&yptr=yahoo