SLB Limited reports developments as a global energy technology and oilfield-services company serving oil and gas, digital, decarbonization, and new energy activities. Recurring news includes quarterly results, international and North America activity, and segment trends across Reservoir Performance, Well Construction, Digital, and Production Systems.
Company updates also cover contract awards and collaborations involving SLB OneSubsea, subsea production systems, multiphase boosting, and deepwater project execution. SLB’s digital news centers on enterprise platforms such as Delfi, cloud-based workflows, AI infrastructure, and data and AI capabilities, while post-acquisition updates describe the contribution of ChampionX businesses to production, recovery, Digital, and Production Systems activity.
SLB (NYSE: SLB) announced that its OneSubsea joint venture won an Aker BP contract for Norway’s Lyra field development. The contract covers subsea production systems, umbilicals and associated services for the field, formerly known as Kjøttkake, on the Norwegian Continental Shelf.
Lyra will connect to existing infrastructure through an underwater connection known as a subsea tieback. SLB said standardized technology is intended to reduce development complexity and accelerate first production. The companies collaborated from the project’s early stages, building on nearly a decade under Aker BP’s alliance model.
SLB (NYSE: SLB) reported third-quarter 2026 revenue of $9.45 billion, with growth from the preceding quarter and a year earlier. Revenue rose 5% sequentially and 6% year on year; excluding ChampionX's acquisition impact, year-on-year growth was 2%. GAAP earnings per share fell 6% sequentially and 2% year on year to $0.49. Net income attributable to SLB was $735 million. Adjusted EBITDA, a non-GAAP earnings measure, rose 9% sequentially to $2.07 billion and was essentially flat year on year.
Operating cash flow was $1.51 billion, with free cash flow of $828 million. SLB agreed to acquire Kelvion for approximately $3.4 billion in cash and assume approximately $0.7 billion of debt, subject to regulatory approvals, with closing expected in the first half of 2027. SLB also completed its acquisition of S&P Global Energy's geoscience and petroleum engineering software portfolio and approved a quarterly dividend of $0.295 per share.
SLB (SLB) announced a 15-year agreement with TotalEnergies to deploy its DrillPlan well planning and engineering solutions across TotalEnergies’ global upstream portfolio.
The deployment will connect subsurface insights with well planning and engineering, supporting TotalEnergies’ transition to a standardized digital drilling planning environment. It builds on the companies’ existing collaboration.
SLB (SLB)’s OneSubsea joint venture won a subsea systems contract from ExxonMobil Moçambique for phase one of Mozambique’s offshore Rovuma LNG project.
ExxonMobil Moçambique awarded the work on behalf of Area 4 partners ENH, CNPC, ENI, KOGAS and XRG. The scope includes subsea trees, manifolds, umbilicals and control systems, along with engineering, procurement, manufacturing and installation services. OneSubsea also intends to establish a services base in Mozambique to serve operators across the region.
SLB (NYSE: SLB) will hold a conference call on October 23, 2026, to discuss its third-quarter results.
The quarter ends September 30, 2026. The results release is scheduled for 7:00 a.m. U.S. Eastern time, ahead of the call at 9:30 a.m. U.S. Eastern time.
SLB (SLB) was awarded four three-year well construction contracts by Aramco for oil and gas development in Saudi Arabia. SLB will manage end-to-end construction of more than 450 wells during the three-year term. Each contract has an optional extension of up to two years. The work expands use of SLB's integrated approach, which connects planning, drilling and well delivery.
SLB (SLB) has been awarded a major contract by OQ Exploration & Production (OQEP) to deliver the Bisat-B Expansion Production Facility in Oman.
SLB will provide end-to-end services, including design, engineering, procurement, construction and commissioning, followed by four years of operations and maintenance support. The expansion is planned to increase the facility’s gross fluids handling capacity to 548,000 barrels per day, with project completion scheduled within 19 months. This award represents the next phase of Bisat Field development and follows SLB’s prior delivery of the Bisat-A facility in 2018 and the original Bisat-B facility in 2020, reinforcing the long-standing partnership between SLB and OQEP.
Apollo (NYSE: APO) announced that SLB (NYSE: SLB) has signed a definitive agreement to acquire 100% of Kelvion, a global thermal management solutions provider, for approximately $3.4 billion in cash and the assumption of about $0.7 billion of debt, valuing the transaction at roughly $4.1 billion. Kelvion is currently majority owned by Apollo-managed funds, with a minority interest held by Triton, both of which will be sold to SLB.
Kelvion focuses on advanced cooling solutions for data centers and diversified industrials, with data centers described as its largest and fastest-growing segment. According to SLB, its data center solutions business has expanded quickly over the past three years and expects cumulative deliveries to exceed 2 gigawatts globally by year-end. The deal, which follows Apollo Funds’ investment in Kelvion completed in January 2026, is subject to regulatory approvals and other closing conditions and is expected to close in the first half of 2027.
SLB (NYSE: SLB) has signed an agreement to acquire Kelvion, a global thermal management and heat exchange provider, to expand its data center infrastructure business and AI-focused offerings. SLB will pay approximately $3.4 billion in cash and assume about $0.7 billion of debt, implying a transaction value of roughly 11x estimated 2026 EBITDA before synergies, or about 8.5x including expected run-rate synergies.
Kelvion is expected to generate $2.3–$2.4 billion of revenue and $350–$400 million of adjusted EBITDA in 2026, with data center revenue of $1.2–$1.3 billion. SLB targets approximately $120 million in annual EBITDA synergies within three years and expects the deal to be accretive to EPS and free cash flow per share within 12 months of closing, which is anticipated in the first half of 2027, subject to approvals. Pro forma, SLB and Kelvion aim for over $2 billion in 2026 data center revenue and $300 million in adjusted EBITDA, and SLB is targeting $4.5–$5 billion of data center revenue and $700–$800 million of adjusted EBITDA in 2028 while maintaining a net debt-to-EBITDA ratio within its up to 1.5x target and returning more than $4 billion to shareholders in 2026.
SLB (NYSE: SLB) has been selected as the strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, operated by Harbour Energy with Stella Maris CCS. SLB will provide technology and engineering services for the concept and front-end engineering and design (FEED) phases.
The company will coordinate an integrated scope linking subsurface reservoir analysis, wells, subsea injection infrastructure and CO2 monitoring, working closely with its OneSubsea joint venture. Havstjerne targets large-scale offshore CO2 storage for European industrial emitters, supported by a 225 million-euro EU Innovation Fund award and a low-pressure floating storage and injection concept, ahead of a final investment decision.