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 significant drilling contracts from Shell for deep- and ultra-deepwater assets across multiple regions, including the UK North Sea, Trinidad and Tobago, and the Gulf of Mexico. The three-year projects will integrate SLB's AI-enabled digital drilling capabilities with its ultra-deepwater expertise to deliver consistent and cost-efficient wells.
The contracts encompass digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services. Services have already commenced and will be managed through SLB's Performance Live™ centers.
SLB (NYSE: SLB) has announced its upcoming conference call to discuss fourth-quarter and full-year 2024 financial results, scheduled for January 17, 2025, at 9:30 a.m. U.S. Eastern time. The company will release its press release at 7:00 a.m. U.S. Eastern time on the same day.
The conference call will be accessible via phone and webcast. North American participants can dial +1 (833) 470-1428, while international callers should use +1 (404) 975-4839, with access code 491926. A simultaneous webcast will be available at the company's website, with replay access until January 24, 2025.
SLB (NYSE: SLB) has secured a contract from Petrobras for two subsea raw seawater injection (RWI) systems for the Búzios field in Brazil. The systems will support FPSOs P-74 and P-75, each including a subsea seawater injection pump, umbilical system, and topside variable speed drive. These RWI systems aim to increase production by addressing water injection capacity bottlenecks and will reduce greenhouse gas emissions per barrel of oil compared to conventional topside injection systems.
The project will strengthen SLB's local presence in Brazil through manufacturing plants and subsea service facilities. The company will provide technical support using AI-enabled Subsea Live™ services, including condition monitoring and domain expert access.
SLB has secured a major contract with Petrobras following a competitive tender for integrated services across all Petrobras' offshore fields in Brazil. The approximately $800 million contract involves overseeing the construction of more than 100 deepwater wells using up to nine ultra-deepwater rigs. The three-year contract begins in April 2025 and covers operations in the Campos, Santos, and Espírito Santo Basins, with potential expansion to the Equatorial Margin.
The project will utilize advanced technologies including SLB's Ora™ intelligent wireline formation testing platform and SpectraSphere™ fluid mapping-while-drilling service, with most technology and equipment being sourced locally. These technologies aim to enhance operational efficiency, minimize risks, and reduce emissions while providing real-time reservoir characterization and improved drilling decisions.
SLB has introduced Neuro autonomous geosteering, an AI-powered drilling technology that automatically guides drill bits through the most productive reservoir layers. The system dynamically interprets real-time subsurface data and makes autonomous decisions, eliminating the need for manual interpretation by geologists.
The technology builds upon SLB's existing Neuro autonomous directional drilling system, adding high-fidelity downhole measurements for optimal well placement. In a successful deployment in Ecuador for Shaya Ecuador S.A., the system executed 25 autonomous trajectory changes across a 2,392-foot lateral section, resulting in one of the country's best-producing wells.
SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The facility will reduce emissions by up to 400,000 metric tons of CO2 annually. The completed plant includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities.
The plant, now ready for testing and commissioning, will enable production of net zero cement without compromising product quality. It is part of The Longship CCS project, Europe's first complete value chain for capture, transport, and storage of industrial CO2 emissions. Operations are scheduled to start during 2025.
SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The plant is designed to capture up to 400,000 metric tons of CO2 annually, enabling production of net zero cement without compromising product quality. The facility includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities. Part of The Longship CCS project, Europe's first complete value chain for CO2 capture, transport, and storage, the plant will begin commissioning phase with operations starting in 2025.
SLB has released its 2023 Women and Pay report, revealing an average global pay gap of 2.37% and a median global pay gap of 1.76% favoring men. The company has made progress in narrowing equal pay gaps, with 40.33% of gaps now within 2%, up from 31.63% two years ago. The report analyzed salary data for the company's workforce, comparing base salaries between genders in similar roles. A key finding showed that female employees with more children experience wider pay gaps. SLB was recognized as a finalist in the Transparency Award category at the World 50 2024 Inclusion and Diversity Impact Awards.
SLB has secured two prestigious awards at the 2024 Gulf Energy Information Excellence Awards, which recognized outstanding innovations from over 500 nominations across 29 categories. The company won in Best Production Technology for their Multicycle System for Actuated Response (MSAR), which enhances downhole operations efficiency through surface-commanded fluid diversion, and in Best Controls, Instrumentation, and Automation Technology-Upstream for their Autonomous Well Intervention system.
The latter achievement, developed in collaboration with Aker BP, combines digital workflows and autonomous execution for various well intervention operations, resulting in improved success rates, faster operations, reduced CO2 emissions, and lower operational costs.
SLB has announced that Ann Robertson-Tait, president of its GeothermEx™ geothermal consulting services, has been honored with the prestigious Geothermal Pioneer Award from Geothermal Rising, the world's largest geothermal association.
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