Big Oil is sick of being oil services companies' piggy bank, and the big names like Total (NYSE:TOT) are starting to wind down their spending in part because of the high prices companies like Schlumberger (NYSE:SLB) and Transocean (NYSE:RIG) are charging for their services. As these big spenders start to scale back their spending habits, both Schlumberger and Transocean should be especially nervous.
With so much of its income reliant on oil exploration rather than development, Schlumberger is likely to suffer more in the near future than its competitors Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI). Find out how exploration and production companies have sent oil services companies soaring over the past couple years, and learn more about why Schlumberger and Transocean are likely to suffer more than their peers by tuning into the video below.
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