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VSP North America

Over the past two years of this downturn, we have generated $7.5 billion in free cash flow, which is more than the rest of our major competitors combined. Furthermore, we have returned $8.0 billion to our shareholders through dividends and share buy-backs. This clearly demonstrates the full-cycle robustness of Schlumberger, the careful management of our business, and the strength of our executional capabilities. Other Events During the quarter, Schlumberger repurchased 1.5 million shares of its common stock at an average price of $78.21 per share for a total purchase price of $116 million. On January 5, 2017, Schlumberger announced the acquisition of Peak Well Systems, a leading specialist enterprise in the design and development of advanced downhole tools for flow control, well intervention, and well integrity. On January 19, 2017, the Companys Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on April 17, 2017 to stockholders of record on February 15, 2017. Consolidated Revenue by Geography 5,249 1% Fourth-quarter revenue of $7.1 billion increased 1% sequentially with North America growing 4% and International increasing 1%. North America In North America, revenue increased 4% sequentially, on increased land activity while offshore declined. Excluding Cameron Group results, land revenue experienced double-digit growth driven by strong hydraulic fracturing activity as stage count increased, and higher uptake of Drilling & Measurements, Bits & Drilling Tools, and M-I SWACO products and services as rig count increased.

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