According to Morgan Stanley analyst Ole Slorer, the joint venture "will gradually wind down, in our view" after Smith acquired W-H Energy last week in a $3.2 billion deal.
"Schlumberger is unlikely to support the joint venture much longer considering that Smith's next tactical move will likely be to cross-sell W-H's directional drilling products across M-I Swaco's international footprint," said Slorer.
He
