Schlumberger Stock Price, News & Analysis

SLB reported first-quarter 2025 results with revenue of $8.49 billion, marking a 3% year-on-year decrease. The company's GAAP EPS declined 22% to $0.58, while net income fell 25% to $797 million. Adjusted EBITDA reached $2.02 billion, down 2% year-on-year.

Despite market softness, SLB maintained its adjusted EBITDA margin through cost discipline and portfolio diversification. The company's digital revenue grew 17% year-on-year, contributing to a 6% increase in Digital & Integration division revenue. North America revenue increased 8%, while international revenue declined 5%.

SLB has committed to return a minimum of $4 billion to shareholders in 2025 through dividends and share repurchases. The company completed an accelerated share repurchase program of $2.3 billion at an average price of $40.51 per share. The Board approved a quarterly cash dividend of $0.285 per share.

SLB (NYSE: SLB) has secured a major drilling contract from Woodside Energy (NYSE: WDS) for the ultra-deepwater Trion development project in Mexico. The contract encompasses the delivery of 18 ultra-deepwater wells over three years, utilizing AI-enabled drilling capabilities.

The comprehensive scope includes digital directional drilling services, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services. The project will operate in challenging water depths up to 2,500 meters.

Services will commence in early 2026, managed through SLB's Performance Live™ digital service delivery centers. This follows a previous major contract awarded to SLB OneSubsea™ joint venture in 2023 for subsea equipment. The Trion field, being developed by Woodside in partnership with Pemex, targets first production in 2028.

SLB (NYSE: SLB) has announced its upcoming first-quarter 2025 results conference call, scheduled for April 25, 2025. The company will release its financial results press release at 7:00 am US Eastern time, followed by the conference call at 9:30 am US Eastern time.

Participants can join via phone using the following numbers:

• North America: +1 (833) 470-1428
• International: +1 (404) 975-4839
• Access code: 114893

A simultaneous webcast will be available at the company's investor portal, with replay access until May 2, 2025.

SLB announced successful early tender results for its exchange offer, where Schlumberger Holdings (SHC) offered to exchange up to $2 billion of notes issued by Schlumberger Investment S.A. (SISA) for new SHC notes. The early tender results showed strong participation with approximately:

• $394.4 million of 2034 Notes
• $382.6 million of 2033 Notes
• $309.3 million of 2028 Notes
• $793.0 million of 2030 Notes

SHC amended the Maximum Exchange Amount from $2 billion to $1.88 billion to accommodate all validly tendered notes. Due to reaching the new maximum amount, SHC does not anticipate accepting additional tenders. The exchange settlement is expected on March 17, 2025. SISA also received over 50% consent from holders for proposed amendments to the notes' indentures.

SLB (NYSE: SLB) announced that its subsidiary Schlumberger Holdings (SHC) has launched a debt exchange offer for up to $2.0 billion aggregate principal amount of notes. The exchange involves certain existing notes issued by Schlumberger Investment S.A. (SISA) for new notes to be issued by SHC.

The exchange offers will expire on March 27, 2025. Holders who tender their notes by the early tender deadline of March 12, 2025 will be eligible for the Early Exchange Consideration, which includes the Total Exchange Consideration and Early Exchange Premium. The early settlement date is expected to be March 17, 2025, with the final settlement date around March 31, 2025.

The new SHC notes will maintain the same interest rates, maturity dates, payment dates, and optional redemption terms as the existing SISA notes. The offers are subject to a Maximum Exchange Amount and Acceptance Priority Levels.

SLB announced that all waiting periods under the U.S. Hart-Scott-Rodino Antitrust Improvements Act for its planned acquisition of ChampionX have expired, allowing SLB to legally close the transaction in the United States.

As part of the HSR review, SLB and ChampionX have reached a definitive agreement to sell ChampionX's equity interests in US Synthetic to a third-party buyer, conditional on the closing of the acquisition. SLB will retain its MegaDiamond business for polycrystalline diamond compact cutters.

The transaction still requires antitrust approval in other jurisdictions. In Norway, the Norwegian Competition Authority will continue its assessment through a Phase II review. Due to these ongoing regulatory processes, SLB now expects the transaction to close by the end of Q1 or early Q2 2025.

SLB (NYSE: SLB) has announced that its OneSubsea joint venture has secured a significant agreement with Vår Energi for subsea production systems (SPS) on the Norwegian Continental Shelf. The deal includes two four-well equipment packages, with the first package comprising a complete SPS system including vertical subsea trees, wellheads, templates, manifolds, and umbilicals.

The second package covers engineering and procurement of components for another same-size SPS system. This strategic partnership leverages SLB OneSubsea's standard, configurable subsea platform, enabling Vår Energi to accelerate subsea developments and significantly reduce time from final investment decisions to delivery across their project pipeline.

DEEP Earth Energy Production Corp. has announced a strategic partnership with SLB (NYSE: SLB) to develop Canada's first next-generation geothermal project in southeast Saskatchewan. The project, having completed its feasibility phase, aims to produce up to 30 MW of emissions-free, baseload power through its initial two phases.

The collaboration involves SLB providing engineering design and integrated well construction services, including the development of two production and two injection wells in phase one and up to 18 wells in phase two. The project will utilize advanced horizontal drilling techniques and production enhancement technologies from the oil & gas industry to optimize geothermal energy generation.

The innovative approach leverages natural rock formation permeability to enable cost-efficient and sustainable geothermal energy production, addressing traditional economic and technical challenges in Canada's untapped geothermal potential.