the review offer all reflect company’s and vision. outlook, on I Simon, you in gentlemen. performance would Thank stand prepared the our joining first finally in us ladies strategy commentary on like on to and the you, good call. during remarks, then morning, performance Today, Thank second and for quarter, my the short-term where we
the want first in during achieved, express resilience, the and close the their we these not in thank As industry, most to also of Reflecting on pride only the circumstances quarter one I and quarters my unique unique contributed we dedication but Schlumberger I have like men cash difficult quarter’s women and on performance, and for what of we our performance, comment in and that we work margins, where and for this communities in to operational digital. made achievements: its the liquidity, attributes performance, would health key clearly four of what live.
a a whilst safety improved best-ever XX% frequency our service performance ago, year reduced record. operational and First, from our on Indeed, our in incidents quality year-on-year—to service an This our safety by customers. in very differentiator XX% of performance performance attribute becoming supported quality clear nearly execution, nearly performance our customers. reach for acknowledged vision and new that of a our well is benchmark is our integrity
new Second new margins—with significantly aligned five decremental four activity is combined despite Internationally, the abrupt to responsive, and basins resulted divisions of customers’ our most with and drop. costs of adoption primarily program on normal, and aligned the with industry adapted decision strength the restructure from digital impact These more variable of of decisive organizational margins strategically is to our structure actions particularly of key combination reservoir of our workflow evaluation XX% operating accelerate margins performance the the actions industry the stewardship progress company. new and with and these This capital severe activity, continued our on also vision. leaner and the swift of and solutions. the key technology,
remarkably remained resilient, sequentially, margin revenue the and adverse in consequence, a contraction flat disruption the of franchise from the the international major margins Ecuador. despite As our material impact
our or franchise restructuring and and earnings North initiated year we either we on costs. higher scale of business fixed franchise. outlook, to and with short, our and GeoMarkets resilience point, America, of lower-growth the smaller internationally, market earnings to with the on majority accelerated have segments As continue about emphasis our strength readied In asset-light with the maintained reductions of the significant four access in three out the business power. In demonstrating business infrastructure permanent scale-to-fit shutdown release, outlined we but facilities of this progress XXX and for of clearly expanded and the At the model of the last our returns. margins technology a make
quarter, our strong during cash solid was spending. building on extremely aggressive very reduction of capital Third, cash performance and flow flow the the leveraging from the operations
In even payments accounting improved capital was the still strong excluding the the of company impact position quarter. significant lower when the negative and visibly year-over-year. flow during working debt while liquidity of fact, cash severance quite QX, during preservation Similarly, significantly to The for team during attention finance very cash positive months, function and a the and clear have focus last a this with entire such navigated very liquidity outcome. difficult and I’m has management several satisfied been to the quarter was for
becoming quarter major operationally both internally for restrictions and during and externally, deployment operations Internally, of improvement as particularly remote and the created in performance of inspections, pandemic was digital, factor and very digital significant a impactful digital the we catalyst financially. of COVID-XX adoption further - the adoption. second operations is Finally, the a made
expanded XX% remote drilling operations during the two-thirds over Our exceed drilling activity. of quarter to our
remote engineers. than capability, operations by operations remote We more in have our using wells supported XXX X,XXX drilled QX
are efficiency hence inspections integration In of platform. the in customers, margins. over size our X,XXX magnifying operations per operating examples The for growing XX or both operating Therefore leveraging subsurface lowering the release, delivery, open the impact digital Externally, success solutions. operations several of maturity and across deployed than greater to described solutions our transformation and our of our manufacturing, in as infrastructure. backbone we depth the and applied earnings of diversity of with reflects in a our digital digital our had digital across addition, the adoption saw service during industry to maintenance, cost we platform DELFI week, crews, and our of digital operations countries, digital the now contributing lifecycle, more performing increasing applications quarter,
to of technology. our share faster and and for through ambition associated with DrillPlan the ExxonMobil the future the and to digital We transform vision proud with deployment extremely of DrillOps solutions are wells same operations be for to We automation. industry, planning including lower-cost drilling digital deliver
technology seeing gains it efficiency customers. in certainly was. to promised for an from continued quarter progress fit-for-basin context, also technology are generate adoption and significant challenging we our all, the accelerating, this All activity is and digitalization messy outlook, despite As performance-focused be in as
resilience However, preserve enabling to digital, the of market. smaller the margins, our competitiveness, including continued operate to delivered outcome, strategy, in and the and our execution company’s decisive and a team, resilient resetting actions cash structurally have a very of and our us performance strong with margins
Now let me short-term turn outlook. to the
year activity the wide. for range Given pace regarding the still of outcomes uncertainties is the economic demand second recovery, oil of and the the half of
with know recovery activity or However, and both commodity completions stable. on disruptions. negative is uptick In activity activity in further DUC of by rig outlook the coming expect year-end, on see pricing the frac to the basins. we slow, to rebound across soft appears months, International in from offshore is COVID-XX the seasonal North but activity seasonal escalating the continued The market, to activity. economic there landing absent rig U.S., decline today, the we global a recede into contrasted mixed America effect remains at and what an last due provided until expected decline land decline the different impact
it’s absent recovery in incremental respective with on These the of of respective the uptick and combined and by essentially position combination COVID-XX, North the the to for of QX, exploration. sequentially activity of from on expect QX, In charges. sequential and flat any offset during our basis, However, the international particularly markets, global impairment impact second to low-single-digit context, stewardship America restructuring benefit in execution we slight we America. a new flat- contraction EBITDA above strategy. in for this will internationally, activity a positive during income beyond revenue our North during drilling the Ecuador, of half setback margins from decline and activity this cost remain to - based tailwind anticipate to grow outlook continued of and the of savings due capital With deepwater and year, slight positive to operating still expand and margins and indicative
of from benefit performance spend aggressive working efficiency, restructuring continue from significantly size. of the the we the this recovery cash despite in in ahead to tailwind our of on While Cash will point quarter focus continue inflection a are the capital setting cycle, of the incremental and and capital coming actually backdrop we navigate savings margins’ market to program. performance, smaller an our our flow trough adjustment,
financial in remains ambition visible XXXX. margin flow three results, performance are our free to the in or strategy new cash conditions of on severance a in in way, created with a new free alignment one the is quarters, embarked the as visible align to results We catalyst a another path of flow second Put despite industry accelerate into positive we next flattening vision. the execute performance, but this market payments. less our operational The our two early to anticipated of already on execution Our ago, the for company the year restructuring our recovery with transition strategic half and robust than ambition cash generation outlook activity and landscape. a
margins smaller the will mid I financials targets to intact will not long-term only Stephane, more a in call QX solidify restore our our the hand a to created discuss steps clearly despite And path that who and the a clear focused but and to structurally returns. bit impact quarter and returns vision, on believe performance of Our detail. remain financial market. program cost-out I accomplished during the also now
