SLB Limited Stock Price, News & Analysis

SLB has secured a significant contract from bp for its Cypre gas project in Trinidad and Tobago. This award marks the first fully integrated EPCI contract for the Subsea Integration Alliance and involves engineering, procurement, construction, and installation of subsea systems and pipelines. Offshore installation will start in 2024. The contract showcases early engagement and digital solutions that enhance project timelines. OneSubsea will provide subsea production systems, while Subsea7 will handle the pipelines, emphasizing the alliance's strength in delivering efficient subsea projects.

SLB is partnering with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority to develop a national strategy for geothermal resource exploration. This collaboration follows a detailed assessment of over 7,000 oil, gas, and water wells to identify geothermal prospects. Utilizing advanced AI solutions, SLB’s consulting team aims to accelerate the evaluation and economic feasibility of geothermal energy projects. This initiative aligns with Oman’s goals of achieving net-zero emissions and enhancing its clean energy portfolio.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a+' (Excellent) for Castle Harbour Insurance Limited and Harrington Sound Insurance Limited, both captive insurers for Schlumberger Limited (SLB). The outlook for these ratings is stable. The captives exhibit strong balance sheet strength and operating performance, with considerable geographic diversification. They play a strategic role in SLB's enterprise risk management framework, providing tailored insurance coverage for the company.

SLB (NYSE: SLB) will host its 2022 Investors Conference on November 3, 2022, in New York. CEO Olivier Le Peuch will present starting at 8:30 a.m. ET, discussing SLB’s strategy and business outlook. CFO Stephane Biguet will follow with a presentation at 4:05 p.m. ET, covering financial performance and 2023 guidance. Live webcasts will be available for both sessions, with a replay afterwards accessible on the company's website. The conference aims to provide insights into SLB’s operations and future objectives.

Linde and SLB announced a strategic collaboration on carbon capture, utilization, and sequestration (CCUS) projects on October 31, 2022, aimed at accelerating decarbonization across industrial and energy sectors.

This partnership combines extensive expertise in CO₂ capture and sequestration, innovative technologies, and project execution capabilities, with a focus on hydrogen and ammonia production and natural gas processing. CCUS is crucial for achieving net-zero emissions by 2050, requiring over 6Gt of CO₂ to be abated annually, according to the IEA.

SLB and Linde have formed a strategic collaboration focused on carbon capture, utilization, and sequestration (CCUS) to drive decarbonization in various sectors including hydrogen and ammonia production, and natural gas processing. This partnership aims to leverage their extensive experience and innovative technologies to significantly reduce CO₂ emissions, aligning with the International Energy Agency's goal of abating over 6Gt of CO₂ annually by 2050. Both companies emphasize their commitment to creating low-carbon energy solutions for a sustainable future.

SLB (NYSE: SLB) has agreed to acquire Gyrodata, a company specializing in gyroscopic wellbore positioning technology. This acquisition will enhance SLB's Well Construction business by integrating advanced drilling solutions aimed at improving wellbore quality and reducing drilling risks. It is expected to enhance trajectory control and streamline decision-making processes, contributing to greater drilling efficiency. The transaction is subject to regulatory approvals and anticipated to close by the end of 2022.

SLB, formerly Schlumberger, has rebranded to emphasize its commitment to energy innovation and decarbonization. This strategic shift reflects the company's transformation from an oilfield services provider to a technology-driven energy leader, focusing on sustainable solutions. The new identity includes a refreshed logo and highlights SLB's ongoing initiatives in low-carbon technologies, such as its New Energy business and emission reduction strategies. CEO Olivier Le Peuch stated that balancing energy affordability and sustainability is critical for the company's future.

Schlumberger Limited (SLB) reported strong third-quarter results for 2022, with revenue of $7.5 billion, a 10% sequential and 28% year-on-year growth. International revenue surged 13% sequentially and 26% year-on-year to $5.9 billion. GAAP EPS was $0.63, down 6% sequentially but up 62% year-on-year. Free cash flow reached $1.1 billion. The company approved a quarterly cash dividend of $0.175 per share. CEOL Olivier Le Peuch highlighted strong growth across divisions, driven by Well Construction and Production Systems, underscoring an optimistic outlook for ongoing investments and technology adoption.