Schlumberger Ltd., Baker Hughes Co. and Halliburton Co., the “Big 3” of the global oilfield services (OFS) sector, reaped solid gains during the final three months of 2021, boosted in part with rising activity in parts of Latin America.

During the quarterly conference call to share results, Schlumberger CEO Olivier Le Peuch said Latin American revenue during 4Q2021 increased 4% sequentially and was 24% higher year/year at $1.2 billion. 

“This improvement was driven by higher project management activity in Ecuador, increased drilling-related services in Mexico, increased activity across multiple product service lines in Brazil, wireline sales in Guyana and higher activity across multiple product service lines in Colombia,” he told analysts. 

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