Welcome to our dedicated page for Schlumberger news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on Schlumberger stock.
Overview of Schlumberger (SLB)
Schlumberger (SLB) is a global oilfield technology and services powerhouse known for its advanced reservoir engineering, drilling technology, and digital solutions. With operations in over 85 countries, the company has established itself as a comprehensive provider across the entire hydrocarbon production chain, from exploration and reservoir characterization to well construction, production enhancement, and integrated pipeline solutions.
Core Operations and Services
At its core, SLB delivers an extensive suite of products and services that address the complex challenges encountered during hydrocarbon recovery. Technology for reservoir characterization is combined with state‐of‐the‐art drilling and integrated production solutions to optimize reservoir performance. By emphasizing precision and efficiency, the company aids oil and gas operators in maximizing extraction while meeting strict operational performance standards.
Technological Innovation and Digital Solutions
SLB is recognized for its commitment to innovation, continuously investing in digital technologies that transform traditional oilfield practices. The integration of digital innovations into field operations enhances data acquisition, real-time monitoring, and predictive analytics, enabling smarter decision-making. This digitalization, when combined with traditional engineering expertise, provides a robust framework for improved reservoir performance and streamlined well construction operations.
Integrated Product and Service Offerings
What sets SLB apart is its ability to offer an integrated suite of services. The company acts as a one‐stop solution provider, seamlessly bridging the gap between exploration, production, and processing. This comprehensive approach includes drilling, well performance management, production optimization, and even the deployment of modular technologies for carbon capture and geothermal applications. SLB Capturi, its pioneering joint venture in carbon capture, embodies this innovative spirit by utilizing modular platforms to deliver scalable, industrial decarbonization solutions.
Global Presence and Competitive Position
Operating in diverse global markets, SLB leverages a multicultural workforce and deep local insights to cater to the varying demands of the oil and gas industry. Its global reach and adaptability enable it to serve a broad spectrum of clients—from national oil companies to independent operators—solidifying its position as a major player in the industry. Strategic partnerships and collaborative projects, like those in decarbonization and geothermal energy, illustrate SLB's capacity to diversify and reinforce its market presence, even as it faces stiff competition from other multinational service firms.
Expertise in Engineering and Resource Optimization
SLB's engineering acumen is notable for its capacity to integrate advanced technologies with robust field practices. The company employs specialized techniques in reservoir performance evaluation, digital simulation, and production enhancement, which contribute to more efficient resource management. Clients benefit from an array of engineered solutions that not only boost productivity but also align with complex operational dynamics inherent in the oil and gas sector.
Industry-Specific Innovations and Collaborative Projects
Beyond traditional services, SLB is at the forefront of integrating cutting-edge innovation with established field expertise. Its collaborative projects in carbon capture and geothermal development showcase a commitment to evolving operational practices through technology. These initiatives reinforce the company’s reputation as an innovator that is adept at translating complex engineering challenges into practical, scalable solutions that resonate across the energy sector.
Conclusion
In summary, Schlumberger (SLB) stands as a cornerstone in the oilfield services industry. Its deep-seated expertise in reservoir engineering, drilling technology, production solutions, and digital integration equips it to meet the evolving needs of global energy operations. With a clear focus on technical innovation and integrated service delivery, SLB continues to shape industry standards while maintaining unbiased, client-focused operational excellence.
SLB (NYSE: SLB) has secured a major drilling contract from Woodside Energy (NYSE: WDS) for the ultra-deepwater Trion development project in Mexico. The contract encompasses the delivery of 18 ultra-deepwater wells over three years, utilizing AI-enabled drilling capabilities.
The comprehensive scope includes digital directional drilling services, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services. The project will operate in challenging water depths up to 2,500 meters.
Services will commence in early 2026, managed through SLB's Performance Live™ digital service delivery centers. This follows a previous major contract awarded to SLB OneSubsea™ joint venture in 2023 for subsea equipment. The Trion field, being developed by Woodside in partnership with Pemex, targets first production in 2028.
SLB (NYSE: SLB) has announced its upcoming first-quarter 2025 results conference call, scheduled for April 25, 2025. The company will release its financial results press release at 7:00 am US Eastern time, followed by the conference call at 9:30 am US Eastern time.
Participants can join via phone using the following numbers:
- North America: +1 (833) 470-1428
- International: +1 (404) 975-4839
- Access code: 114893
A simultaneous webcast will be available at the company's investor portal, with replay access until May 2, 2025.
SLB announced successful early tender results for its exchange offer, where Schlumberger Holdings (SHC) offered to exchange up to $2 billion of notes issued by Schlumberger Investment S.A. (SISA) for new SHC notes. The early tender results showed strong participation with approximately:
- $394.4 million of 2034 Notes
- $382.6 million of 2033 Notes
- $309.3 million of 2028 Notes
- $793.0 million of 2030 Notes
SHC amended the Maximum Exchange Amount from $2 billion to $1.88 billion to accommodate all validly tendered notes. Due to reaching the new maximum amount, SHC does not anticipate accepting additional tenders. The exchange settlement is expected on March 17, 2025. SISA also received over 50% consent from holders for proposed amendments to the notes' indentures.
SLB (NYSE: SLB) announced that its subsidiary Schlumberger Holdings (SHC) has launched a debt exchange offer for up to $2.0 billion aggregate principal amount of notes. The exchange involves certain existing notes issued by Schlumberger Investment S.A. (SISA) for new notes to be issued by SHC.
The exchange offers will expire on March 27, 2025. Holders who tender their notes by the early tender deadline of March 12, 2025 will be eligible for the Early Exchange Consideration, which includes the Total Exchange Consideration and Early Exchange Premium. The early settlement date is expected to be March 17, 2025, with the final settlement date around March 31, 2025.
The new SHC notes will maintain the same interest rates, maturity dates, payment dates, and optional redemption terms as the existing SISA notes. The offers are subject to a Maximum Exchange Amount and Acceptance Priority Levels.
SLB announced that all waiting periods under the U.S. Hart-Scott-Rodino Antitrust Improvements Act for its planned acquisition of ChampionX have expired, allowing SLB to legally close the transaction in the United States.
As part of the HSR review, SLB and ChampionX have reached a definitive agreement to sell ChampionX's equity interests in US Synthetic to a third-party buyer, conditional on the closing of the acquisition. SLB will retain its MegaDiamond business for polycrystalline diamond compact cutters.
The transaction still requires antitrust approval in other jurisdictions. In Norway, the Norwegian Competition Authority will continue its assessment through a Phase II review. Due to these ongoing regulatory processes, SLB now expects the transaction to close by the end of Q1 or early Q2 2025.
SLB (NYSE: SLB) has announced that its OneSubsea joint venture has secured a significant agreement with Vår Energi for subsea production systems (SPS) on the Norwegian Continental Shelf. The deal includes two four-well equipment packages, with the first package comprising a complete SPS system including vertical subsea trees, wellheads, templates, manifolds, and umbilicals.
The second package covers engineering and procurement of components for another same-size SPS system. This strategic partnership leverages SLB OneSubsea's standard, configurable subsea platform, enabling Vår Energi to accelerate subsea developments and significantly reduce time from final investment decisions to delivery across their project pipeline.
DEEP Earth Energy Production Corp. has announced a strategic partnership with SLB (NYSE: SLB) to develop Canada's first next-generation geothermal project in southeast Saskatchewan. The project, having completed its feasibility phase, aims to produce up to 30 MW of emissions-free, baseload power through its initial two phases.
The collaboration involves SLB providing engineering design and integrated well construction services, including the development of two production and two injection wells in phase one and up to 18 wells in phase two. The project will utilize advanced horizontal drilling techniques and production enhancement technologies from the oil & gas industry to optimize geothermal energy generation.
The innovative approach leverages natural rock formation permeability to enable cost-efficient and sustainable geothermal energy production, addressing traditional economic and technical challenges in Canada's untapped geothermal potential.
SLB Capturi and Aker Solutions have secured an EPCIC contract from Hafslund Celsio to implement a carbon capture solution at their waste-to-energy facility in Oslo, Norway. The project, part of the Norwegian Government's Longship CCS initiative, will include a carbon capture plant, liquefaction system, and storage facilities.
The facility is expected to capture 350,000 metric tons of CO2 annually when operational. The project will utilize SLB Capturi's modularized Just Catch™ 400 unit, designed to reduce onsite footprint and installation costs. The captured CO2 will be transported to the Northern Lights permanent storage facility on the Norwegian continental shelf.
This marks the second carbon capture plant in the Longship project for SLB Capturi, following their ongoing work at Heidelberg Materials' cement facility in Brevik. The project is scheduled to be operational by third quarter 2029.
SLB (NYSE: SLB) announced the completion and handover of its first modular carbon capture plant at Twence's waste-to-energy facility in Hengelo, Netherlands. The plant, built by SLB Capturi, features the standard, modular Just Catch™ design and has the capacity to capture up to 100,000 metric tons of CO2 annually.
The captured CO2 will be utilized in the horticulture and food and beverage sectors. The modular design reduces onsite installation and outfitting work, offering a more cost-efficient and easier-to-deploy solution compared to market alternatives. The plant will begin supplying CO2 to the greenhouse horticulture sector in spring.
SLB reported strong financial results for Q4 and full-year 2024. Fourth-quarter revenue reached $9.28 billion, up 1% sequentially and 3% year-on-year. Full-year revenue was $36.29 billion, marking a 10% increase from 2023.
The company demonstrated solid profitability with Q4 GAAP EPS of $0.77 and adjusted EPS of $0.92. Full-year GAAP EPS grew 7% to $3.11, while adjusted EPS increased 14% to $3.41. The company generated $3.99 billion in free cash flow for 2024.
SLB's Board approved a 3.6% increase in quarterly dividend to $0.285 per share and initiated $2.3 billion in accelerated share repurchases. The company's international revenue grew 12% year-on-year, led by strong performance in Middle East & Asia (18% growth) and Europe & Africa (13% growth). Digital & Integration division showed notable growth with a 10% revenue increase year-on-year.
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