Schlumberger Ltd (SLB.N) expects to squeeze more efficiencies out of last year's $11 billion acquisition of Smith International and is now targeting $300 million in revenue and cost "synergies" for 2011. The increase, from a previous figure of $160 million, was a positive message for Paal Kibsgaard, chief executive-in-waiting at the world's largest oilfield services company, to deliver in his first high-profile presentation to analysts. Kibsgaard also said that with the growing "momentum" of the Smith integration, efficiencies should increase even further in 2012, though he did not give a figure. [ID:nN21150468]
Source
