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Revenue Breakdown for the “Big Three” Oil Service Companies $SLB, $HAL, $BHI

image001If an investor is looking to choose a oil services company, a factor to consider is the locations where the companies receive most of their revenue. In the article below I will look at Schlumberger Limited (NYSE:SLB), Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI) revenue base.

 

 

Schlumberger Limited

The Chart below indicates where Schlumberger receives its revenue.

image002

As you can see from the chart above Schlumberger is very “international”. The company has a equal weighting globally. If you are bullish on global demand for oil services this is a company to consider.

Halliburton

The Chart below indicates where Halliburton receives its revenue.

Halliburton Revenue Breakdown

Halliburton, which earns ~52% of its revenue within North America, is expecting a strong year in 2014. To support this statement Barclay’s is forecasting an increase of more than 7% in E&P spending within the continent this year. As this increase is being driven by the expectation that Natural Gas prices are on the increase, it is becoming more economical for E&P companies to focus on the onshore drilling market.

Baker Hughes

The Chart below indicates where Baker Hughes receives its revenue.

Baker Hughes revenue breakdown

If you are more bullish on the North American drilling market an investor would want to invest in Halliburton as they are the most weighted within the North American Market.

photo sourced by: http://www.smartplanet.com/blog/intelligent-energy/bps-secret-sauce-for-more-oil-less-salt/

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