Lamprell Reaches Amicable Settlement With Schlumberger's Cameron
August 15 2017 - 3:20AM
Dow Jones News
LONDON-- Oil services company Lamprell PLC (LAM.LN) Tuesday said
it reached an amicable settlement with Schlumberger Ltd (SLB)
subsidiary Cameron International Corporation related to issues with
equipment supplied by Cameron in 2016.
The settlement included Lamprell receiving some remedial costs,
but will leave its net cash position largely unchanged, Lamprell
said.
Lamprell also announced that it held constructive talks with
Schlumberger, leading to Lamprell winning a rig contract with
Schlumberger. Lamprell didn't disclose financial details for the
contract.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
August 15, 2017 03:05 ET (07:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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