The chairman and chief executive of oilfield services provider Schlumberger Ltd. (SLB) said Friday that the company's first quarter performance would be difficult to repeat because of the renegotiated prices that will be realized later in the year.

"A lot of price concession that we have given will flow though in subsequent quarters," Gould said during a conference call to discuss the company's first quarter earnings.

Service companies have been under pressure from customers, who are seeking to bring costs in line with lower energy prices.

-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com