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Oil Service Giant Schlumberger Bets on Growth With $2 Billion Plan

  • Rival Baker Hughes reported surging orders for energy gear
  • Biggest oilfield servicer rebounding as crude demand climbs
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Schlumberger is gearing up for growth around the world as the No. 1 oilfield contractor expects recovering economies to ignite several years of crude-demand expansion. 

The company, based in Houston and Paris, will boost spending as much as 18% to $2 billion, serving North American oil explorers who should dominate activity in the first half of the year, followed by international growth in the final six months.