March 21 (Reuters) - Schlumberger Ltd's SLB.N revenue is
expected to fall 15 percent in the first quarter from the fourth
quarter, Chief Executive Paal Kibsgaard said, as oil and natural
gas producers cut spending for the second straight year.
The world's largest oilfield services provider forecast
revenue of $6.5 billion for the current quarter, lower than the
average analysts' estimate of $6.94 billion, according to
Thomson Reuters I/B/E/S.
"The third phase of E&P spending reductions that we are
currently experiencing will have a significant impact on our
earnings per share in the current and coming quarters given the
magnitude and erratic nature of the activity disruptions,"
Kibsgaard said at an energy conference.