Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp, is benefitting from higher global oil prices as fuel usage picks up from last year, when coronavirus pandemic-related lockdowns decimated demand.
The recovery, however, remains spotty with second and third waves of COVID-19 surging in various parts of the world, including Canada, and an uneven rollout of vaccines.
Schlumberger, which has been selling assets in North America, said it is benefiting from an inflection in global drilling activity which has picked up as oil prices climbed to $65.45.
Worldwide, the rig count has risen about 11.5% to 1,231 for the quarter ended in March, according to Baker Hughes data.
Oil prices spiked briefly following Sunday's missile and drone assault on the kingdom, including on an oil storage yard at Ras Tanura, site of a refinery and the world's biggest offshore oil-loading facility.
"The Kingdom will take the necessary deterrent measures to protect its national capabilities," the prince said.