Natural gas and oil industry bellwether Schlumberger Ltd. has boosted capital spending for 2022 after posting better-than-expected results in the third quarter.


The world’s largest oilfield services company issued its quarterly report on Friday, posting the highest profits in seven years as North America and international drilling climbed from ayear ago. CEO Olivier Le Peuch led a conference call from the Houston office.

“The pace of growth in our international business stepped up significantly, complementing already robust levels of activity in North America,” he told investors. “While concerns remain over the broader economic climate, the energy industry fundamentals continue to be very constructive.”

Revenue is forecast to increase to the end of the year, along with...