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UPDATE 1-U.S. Supreme Court to hear Schlumberger fight over patent damages [Reuters]

SCHLUMBERGER (SLB)  More Company Research Source: Reuters
Last schlumberger earnings: 4/20 07:05 am Check Earnings Report
US:NYSE Investor Relations: investorcenter.slb.com
PDF U.S. Supreme Court to hear Schlumberger fight over patent damages | Reuters 2 Min Read (Reuters) - The U.S. Supreme Court on Friday agreed to review a bid by Schlumberger NV, the world’s largest oilfield services provider, to allow companies to recoup profits lost due to patent infringement when patented technology is used overseas. The case involves a fight over how much rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. The justices will hear Schlumberger’s appeal of a lower court ruling that barred it from recovering more than $93 million stemming from foreign contracts the company said it lost as a result of the infringement. The case involves four patents owned by Schlumberger subsidiary WesternGeco related to an invention that more efficiently completes marine seismic surveys to help identify oil and gas drilling locations. ION developed a competing system and sold it to surveying companies abroad [Read more]

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