Schlumberger Limited - SLB STOCK NEWS

Schlumberger has announced an immediate suspension of new investments and technology deployment in Russia due to the escalating conflict in Ukraine. CEO Olivier Le Peuch emphasized the company's commitment to the safety of its employees and compliance with international laws and sanctions. Schlumberger remains focused on fulfilling existing commitments while closely monitoring the situation. The company, listed as SLB on the NYSE, is dedicated to providing digital solutions and innovative technologies across the global energy industry.

Schlumberger has secured a major contract with Saudi Aramco for integrated drilling and well construction services in gas drilling. The project will utilize advanced drilling technologies and digital solutions to enhance drilling performance and efficiency. Key services include drilling rigs, drill bits, and measurement technologies, along with a focus on data analysis and automation through the DrillOps solution. This contract is seen as a significant endorsement of Schlumberger’s technology and expertise in the region, continuing their collaboration with Saudi Aramco.

Schlumberger has expanded its INNOVATION FACTORI network by opening a new center in Houston, Texas, aimed at enhancing enterprise-scale AI and digital solutions for customers. Since its inception in March 2021, the initiative has delivered over 200 digital projects and is supported by a team of over 4,000 experts. The center promotes agile approaches and features partnerships with Dataiku for advanced AI capabilities. Located in The Ion, it is part of Houston's innovation ecosystem designed to boost performance and sustainability in the energy sector.

Schlumberger has launched its End-to-end Emissions Solutions (SEES) to help operators reduce methane and flare emissions as part of their decarbonization goals. SEES offers a comprehensive package of services and technologies for measurement, monitoring, and reporting emissions. With a focus on methane emissions, which represent over 60% of industry GHG emissions, SEES combines planning, measurement, and action to provide operators with a robust strategy. The initiative aims to assist clients in eliminating 1% of anthropogenic GHG emissions by 2030.

Schlumberger has launched the Schlumberger End-to-end Emissions Solutions (SEES), providing comprehensive services for measuring and eliminating methane and flare emissions. This initiative aims to assist operators in achieving their decarbonization goals amidst increasing industry pressure to reduce methane emissions. SEES will leverage a holistic approach with three key pillars: plan, measure, and act, utilizing the industry's first methane emissions digital platform. Schlumberger aspires to eliminate 1% of all anthropogenic GHG emissions by 2030, reinforcing its commitment to sustainability.

Schlumberger has been awarded a significant contract by TotalEnergies for its Tilenga onshore oil development in Uganda. This contract includes directional drilling services, completions, artificial lift solutions, and wellheads for the project, which encompasses six fields and up to 426 wells across 31 wellpads. The drilling operations are set to commence in Q4 2022. Schlumberger's commitment to a national content development plan aims to support local economic growth through education, HSE stewardship, and digital enablement.

Schlumberger has announced a deployment of its cloud-based DELFI cognitive environment for ConocoPhillips, aimed at enhancing reservoir engineering modeling through digital transformation. This collaboration will boost workflow and data efficiency globally, enabling advanced integration of Schlumberger's digital solutions with ConocoPhillips' existing workflows. Upon completion, ConocoPhillips' engineers will have access to high-performance cloud computing resources and advanced reservoir engineering tools.

Schlumberger is deploying its DELFI cognitive environment for the Northern Lights joint venture, which aims to optimize carbon transport and storage. This project, part of Norway's Longship initiative, plans to capture and store 1.5 million tonnes of CO₂ annually, with future expansion potential up to 5 million tonnes based on demand. The DELFI environment enhances operational efficiency and decision-making for CO₂ storage workflows, showcasing Schlumberger's expertise in digital solutions and carbon capture technology.

Schlumberger Limited (SLB) reported a strong fourth-quarter for 2021, with revenue of $6.22 billion, a sequential increase of 6% and 13% year-on-year. GAAP EPS rose to $0.42, up 8% sequentially and 56% year-on-year. Full-year revenue totaled $22.9 billion, down 3% from 2020, while adjusted EBITDA reached $4.9 billion. The board approved a quarterly cash dividend of $0.125 per share. CEO Olivier Le Peuch highlighted strong digital sales and free cash flow performance, with $3 billion free cash flow for the year, indicating robust financial health and sustainability commitments.