Schlumberger Limited - SLB STOCK NEWS

Schlumberger Limited (NYSE:SLB) announced the redemption of $1 billion in 2.40% Senior Notes due 2022, with a redemption date set for May 2, 2022. The company has deposited sufficient funds with The Bank of New York Mellon to cover the principal and interest payments. This action is part of Schlumberger's ongoing commitment to debt reduction. The Notes will cease to accrue interest following the redemption date.

Schlumberger New Energy, in partnership with Genvia, has signed pilot project agreements aimed at advancing decarbonization in the cement and steel industries. These projects will utilize cutting-edge electrolyzer technology to produce clean hydrogen without CO₂ emissions. French President Emmanuel Macron endorsed the initiative during his visit on November 16, supporting the transition to a hydrogen economy. Expected hydrogen production ranges from 200kg to 600kg per day, enhancing system efficiency and reducing electricity use.

Schlumberger Limited (NYSE: SLB) reported third-quarter 2021 results with global revenue of $5.85 billion, a 4% sequential increase and 11% year-on-year growth. GAAP diluted EPS rose 30% to $0.39, while adjusted EPS, excluding charges, increased 20% to $0.36. Cash flow from operations reached $1.07 billion, and free cash flow was $671 million. The board approved a quarterly dividend of $0.125 per share, payable January 13, 2022. CEO Olivier Le Peuch noted robust revenue growth in Well Construction and Reservoir Performance, indicating positive momentum heading into 2022.

Schlumberger has secured a notable contract from Turkish Petroleum for engineering, procurement, construction, and installation (EPCI) services at the Sakarya gas field, Turkey's largest gas reserve. The consortium, comprising Schlumberger and Subsea 7, will deliver comprehensive production solutions, including subsea production systems and an early production facility with a capacity of up to 350 MMscfd of gas. This project reflects Schlumberger's strategic collaboration and commitment to enhancing Turkey’s energy sector.

Schlumberger and AVEVA announced a partnership to integrate edge, AI, and cloud solutions to optimize oil and gas production. This collaboration aims to enhance wellsite efficiency and performance by streamlining data acquisition and processing. The partnership will focus on linking edge systems to the DELFI cognitive E&P environment, leveraging both companies' IoT and cloud capabilities. Key executives highlighted the potential for improved operational agility and product delivery through this integration.

Schlumberger Limited (NYSE:SLB) will conduct a conference call on October 22, 2021 to discuss its third-quarter results, ending September 30, 2021. The call starts at 9:30 am US Eastern time, with a press release issued at 7:00 am US Eastern time. Investors can join the call via phone at +1 (844) 721-7241 in North America or +1 (409) 207-6955 internationally, using access code 8858313. A webcast of the call will be available on www.slb.com/irwebcast and a replay will be accessible until November 22, 2021.

Schlumberger New Energy has announced an investment and collaboration agreement with EnerVenue to deploy its nickel-hydrogen battery technology, enhancing its presence in the growing stationary energy storage market. This partnership aims to accelerate the large-scale application of energy storage solutions across various sectors, including utility, commercial, and residential. Schlumberger positions itself as a leader in the energy transition, leveraging its technological expertise to support the demand for reliable and sustainable energy sources.

Schlumberger Limited (NYSE: SLB) reported strong second-quarter 2021 results, with revenues reaching $5.634 billion, marking an 8% sequential increase. Net income stood at $431 million, up 44% from the previous quarter. Key drivers included revenue growth across all divisions, particularly in Well Construction and Reservoir Performance, with North America showing an 11% sequential increase. Adjusted EBITDA margins improved to 21.3%. Cash flow from operations was robust at $1.2 billion. CEO Olivier Le Peuch highlighted strategic advancements in Digital and New Energy, along with a commitment to achieving net-zero emissions by 2050.