Saturday, March 21, 2009

Schlumberger Expands in Shreveport

On Friday, Schlumberger, Ltd., the world's largest oil field services company, announced an expansion of its operation in Shreveport, LA to support the Haynesville Shale (AP story from nola.com). The company is investing $48 million to expand its footprint by 250,000 square feet and will add 400 jobs.

It is particularly encouraging that the Schlumberger is adding jobs given the fact that the company recently cut 5,000 jobs worldwide. Clearly Schlumberger sees strong potential in the Haynesville Play.

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