Yesterday, Schlumberger Limited (SLB) launched a new downhole reservoir testing system – Quartet. The company said that the user of Quartet will be provided with a high-performance downhole reservoir testing system, which helps to isolate, control, measure and sample in a single run.
 
The company claims that with the introduction of Quartet, reservoir testing will become easier for its customers as it is a combination of four technologies engineered specifically for reservoir testing. Schlumberger said one of its customers saved four rig days at the time of performing a series of downhole tests on its high-rate gas wells in the Gulf of Venezuela.
 
The new systems offers various advantages including 35% lower tool operating pressure, 90% less nitrogen, 50% fewer seals and 60% fewer connections.
 
The company is well known for its continuous endeavors toward product development and technological improvement to serve its customers better. Recently, it released the Merak Peep 2010 software, which allows its clients to proactively respond to complex operational conditions and rapidly answer their unique business challenges.
 
Schlumberger’s extensive product base and leading technology portfolio will continue to add value for customers by improving their drilling time through downhole information and efficiencies.
 
Schlumberger remains our preferred stock in the oilfield services space for its strong balance sheet, lower debt level and free cash flow generation capacity.  However, we are skeptical on any major growth in near-term service pricing and natural gas activity.  The company is currently rated Neutral with the Zacks #3 Rank (Hold).
 
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