Schlumberger Ltd. (NYSE: SLB) reported first-quarter 2014 results before markets opened Thursday. The oil field services firm reported adjusted diluted quarterly earnings per share (EPS) of $1.21 on revenues of $11.24 billion. In the same period a year ago, Schlumberger reported EPS of $0.97 on revenues of $10.57 billion. First-quarter results also compare to the consensus estimates for EPS of $1.20 on revenues of $11.49 billion.

Baker Hughes Inc. (NYSE: BHI) also reported first-quarter earnings Thursday morning. The company posted adjusted EPS of $0.84 on revenues of $5.73 billion, compared with EPS of $0.65 on revenues of $5.23 billion in the same period a year ago. The consensus estimates called for EPS of $0.78 on revenues of $5.71 billion.

The big difference between the two companies — and their quarterly results — is exposure to North America. Baker Hughes gets 48% of its revenues from North American operations, while Schlumberger gets a third of its revenues from the United States and Canada. And because that is where the land-based drilling action was during the quarter, that is where the revenues and profits are.

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Neither company provided guidance in its press release. The consensus estimate for Schlumberger calls for second-quarter EPS of $1.36 on revenues of $12.11 billion. For the full year, EPS is pegged at $5.67 on revenues of $49.31 billion.

At Baker Hughes, the consensus second-quarter estimates call for EPS of $0.89 on revenues of $5.9 billion. For the full year, the consensus EPS estimate is $4.03 on revenues of $24.23 billion.

Schlumberger shares were up about 0.8% in premarket trading Thursday, at $100.94 in a 52-week range of $69.08 to $101.06. The high was posted Wednesday. Thomson Reuters had a consensus analyst price target of around $111.70 before the results were announced.

Shares of Baker Hughes were up about 5.6% at $68.97, above the top of the stock’s 52-week range of $42.60 to $66.56. That high was set Wednesday as well. The price target on the stock from Thomson Reuters is around $69.20.

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