(Bloomberg) -- Schlumberger has become the biggest oil-service industry player yet to abandon frac work in North America, a sign that activity in the U.S. shale patch may never revisit previous highs.

In any battle over fracking, transnational corporations would be well-positioned to overpower local resistance.

Schlumberger is planning to take over fracking business, Weatherford International. Back in March, the company had announced they would be moving forward in a joint venture with Schlumberger.