SLB - SLB and Halliburton say unnamed customer in Mexico owes more than $1B

2023-04-26 17:55:21 ET

Schlumberger ( NYSE: SLB ) and Halliburton ( NYSE: HAL ) warned Wednesday the magnitude of unpaid work in Mexico has grown over the past three months .

SLB ( SLB ) amassed $1.2B in receivables related to Mexico at the end of last month, the company said in a 10-Q filing , up 20% from the end of last year.

Halliburton ( HAL ) said in its own 10-Q filing that unpaid bills from its unnamed customer in Mexico have increased to represent a larger piece of its overall collections.

Both oilfield services companies said the amounts owed are not in dispute and have not caused any material writeoffs related to their top client in the country.

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