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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): MAY 31, 2000
SCHLUMBERGER N.V.
(SCHLUMBERGER LIMITED)
(Exact name of registrant as specified in charter)
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<CAPTION>
<S> <C> <C>
NETHERLANDS ANTILLES 001-04601 52-0684746
(State or other jurisdiction (Commission File No.) (I.R.S. Employer Identification No.)
of incorporation)
42, RUE SAINT-DOMINIQUE 277 PARK AVENUE PARKSTRAAT 83
PARIS, FRANCE 75007 NEW YORK, NEW YORK, USA 10172 THE HAGUE
(33-1) 4062-1000 (212) 350-9400 THE NETHERLANDS
2514 JG
(31-70) 310-5447
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(Address, including Zip Code, and Telephone Number, Including Area Code, of
Principal Executive Offices)
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Item 5. Other Events
On May 31, 2000, Schlumberger N.V. (Schlumberger Limited) announced the
signing of a memorandum of understanding with Baker Hughes Incorporated under
which the Schlumberger surface seismic business, Geco Prakla, would join with
the Western Geophysical surface seismic unit of Baker Hughes to form a new
venture to be called Western GECO. The Western GECO venture would own the
seismic fleets, data processing assets, exclusive and nonexclusive multiclient
or other surveys, and other assets currently comprising the surface seismic
businesses of Schlumberger and Baker Hughes. In connection with the formation
of the venture, Schlumberger expects to pay Baker Hughes $500 million. As a
result, Schlumberger is expected to own 70% of the venture and Baker Hughes is
expected to own 30% of the venture.
The formation of the venture is subject to the parties' ability to obtain
all necessary regulatory approvals and consents and other conditions. No
assurance can be given that such regulatory approvals and consents will be
obtained or that the other conditions will be satisfied.
The information set forth in the press release of Schlumberger dated May
31, 2000, filed herewith as Exhibit 99.1, is incorporated by reference in this
Current Report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 - Press Release dated May 31, 2000 announcing the execution of
the memorandum of understanding
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SCHLUMBERGER N.V.
(SCHLUMBERGER LIMITED)
Date: May 31, 2000 By: /s/ James L. Gunderson
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James L. Gunderson
General Counsel and Secretary
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INDEX TO EXHIBITS
Number Exhibit
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99.1 - Press Release dated May 31, 2000 announcing the execution of the
memorandum of understanding
