Schlumberger Ltd. (NYSE:SLB): Closing price $82.16
Schlumberger and Halliburton Co. (NYSE:HAL) shares are on watch after the government of Mexico said that it is considering a modification of its 7-decade state oil monopoly. Last week, Baker Hughes posted a decline in United States rig counts, but it is thought that opening up the deep offshore fields in Mexico to foreign partners would help push up international counts. On Monday, President Enrique Peña Nieto submitted a bill to lawmakers that would permit Pemex to retain its monopoly on oil, but cooperate with foreign firms. However, opponents are leery of foreign involvement, but proponents think that Pemex reforms will free more investment and step up economic growth. Mexico has an estimated 15 billion barrels of oil, which is approximately the same amount as does Kuwait.
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