Pros
Schlumberger has a very large focus on technology and maintaining a technological edge. As a result they encourage people to be innovative and forward thinking. Additionally, there seems to be concern with a work life balance and efforts made to give employees time to relax both at and away from work. There is also a wealth of knowledge within the company. The opportunities to learn from others are more than plentiful. In the same vein the company is very focused on an employees personal and professional development. Schlumberger provides a HUGE amount of opportunities to further your growth and eduction, and the only real limit is your time and motivation.
Cons
As with any job the work goes well beyond 40 hours a week. There is a tradition of excelence and so the learning curve is steep and at times unforgiving. Because of the talent already within the company there is an expectation that employees will know how to do something and, if they don't, they will learn. For people coming directly out of college, the company has a regimented training program. It is good, but also can be limiting, requireing a new employee to complete fixed step training versus allowing them to focus on something that they may have a personal interest in.