The first of the big oil field services to report quarterly earnings is also the largest: Schlumberger Ltd. For the full fiscal year, the company reported revenue of $39.54 billion and diluted, adjusted EPS of $3.66. That’s a revenue jump of 44% over 2010 and an EPS jump of 28%. Analysts were expecting revenue of $39.34 and EPS of $3.63.

Competitors Halliburton Co. (NYSE: HAL) and Baker Hughes Inc. (NYSE: BHI) report results next week. Halliburton is expected to post annual EPS of $3.35 on revenue of $24.58 billion and Baker Hughes is expected to post annual EPS of $4.30 on revenue of $19.90 billion.

For the fourth quarter, Schlumberger posted diluted, adjusted EPS of $1.11 on revenue of $10.97 billion. The consensus estimate called for EPS of $1.09 on revenue of $10.78 billion.

Drilling in the Gulf of Mexico showed the strongest growth in the company’s North American region. Internationally, deepwater drilling offshore of North and West Africa grew most. Schlumberger also showed solid growth in drilling in the Middle East, particularly Iraq.

Here’s what the company had to say about its prospects in 2012:

Uncertainty remains over the outlook for 2012 due to the continuing sovereign debt crisis in Europe which places downward pressure on GDP and oil demand forecasts. Natural gas markets are well supplied in North America with gas storage well above five-year highs. In this environment, the thin excess oil supply cushion is expected to support oil prices close to current levels, while global demand for LNG continues to increase. Recent E&P customer spending forecasts also point to higher E&P investment in 2012, particularly in international markets.

The company is planning on growth in 2012, but did not provide specifics in its quarterly report.

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