Schlumberger - SLB STOCK NEWS

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.

SLB (NYSE: SLB) announced that its OneSubsea joint venture has been awarded a contract by bp for a subsea boosting system for the Kaskida project in the deepwater U.S. Gulf of Mexico. This marks the first engineering, procurement and construction (EPC) contract for a subsea boosting system between the two companies. The project includes a high-pressure subsea pump solution with integrated power and controls umbilical, and topside equipment. The system will provide artificial lift to maximize production through accelerated recovery of reserves with minimal energy consumption in bp's first Paleogene field development.

SLB reported its third-quarter 2024 results, highlighting a 10% year-on-year revenue increase to $9.16 billion and a GAAP EPS of $0.83, up 6% year on year. Adjusted EPS, excluding charges, rose by 14% to $0.89. Net income grew 6% year on year to $1.19 billion, and adjusted EBITDA increased 13% to $2.34 billion. Free cash flow was $1.81 billion. The Board approved a $0.275/share dividend. Revenue from the Aker subsea business added $532 million. Digital & Integration saw a 4% sequential revenue increase, with a 456 bps margin expansion. Production Systems reported a 31% year-on-year revenue growth. The company repurchased 11.3 million shares for $501 million. SLB also entered into an agreement to sell interests in the Palliser Block in Canada, expected to close in Q4 2024. The company highlighted its digital and long-cycle projects as key growth drivers amid a cautious macro environment.

SLB (NYSE: SLB), a global energy technology company, has announced a definitive agreement to sell its interests in the Palliser Block in Alberta, Canada. The Palliser Block includes oil and gas wells, surface facilities, a pipeline network, and certain oil and gas development rights. The transaction is subject to regulatory approval and other customary closing conditions. It is expected to close late in the fourth quarter of 2024.

SLB, a global energy technology company, has partnered with the She Is Foundation to launch the She Is an Astronaut program, aimed at inspiring young women in STEM fields. The program brought 24 girls aged 11-16 from Colombia, Ecuador, and Peru to the NASA Space Center in Houston, Texas. Participants engaged in virtual and in-person STEM learning over several months, culminating in a week-long experience that included visits to NASA and SLB's technology center.

The program offers participants a behind-the-scenes look at mission control rooms and astronaut training areas, emphasizing the importance of diversity and collaboration in STEM. Carlos Sarmiento, director of Culture, Diversity and Inclusion at SLB, highlighted the company's belief in the transformative power of education. The initiative aims to empower young women to become future leaders in STEM and develop projects that positively impact their communities.

SLB has been named a finalist in the 2024 Reuters Sustainability Awards for the Net Zero: Supply Chain Decarbonization category. This recognition highlights SLB's efforts in managing and transforming their supply chain to reduce greenhouse gas emissions. The company was selected from over 700 entries across 17 categories.

Gwenola Boyault, VP of Planning and Supply Chain at SLB, emphasized the importance of initiatives like their Carbon Disclosure Project (CDP) program and integrating environmental scoring into the tender process. These efforts have helped suppliers advance in climate action maturity.

SLB's approach to sustainability extends throughout its value chain, engaging employees, customers, and suppliers. Mikki Corcoran, VP of Sustainability, stressed the role of technology in helping SLB and its partners on a low-carbon path. The company's sustainable supply chain practices are detailed in their Sustainability Report.