Welcome to our dedicated page for SLB news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on SLB stock.
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.
Schlumberger announced a significant contract awarded to Subsea Integration Alliance by Equinor for the Bacalhau project offshore Brazil. The contract encompasses engineering, procurement, construction, and installation (EPCI) of subsea production systems and pipelines, involving 19 trees and various subsea equipment. The project management and engineering will occur in Rio de Janeiro, with offshore activities starting in 2022. This collaboration aims to enhance Equinor's Bacalhau field performance while positively impacting the local economy.
Schlumberger New Energy and Panasonic Energy of North America have launched a collaboration to optimize lithium extraction processes at Schlumberger's Neolith Energy pilot plant in Nevada. This partnership aims to enhance lithium production efficiency, crucial for the surging electric vehicle (EV) market. Utilizing a distinctive direct lithium extraction method, they plan to achieve over 90% lithium recovery while minimizing environmental impact. The pilot plant's proximity to Panasonic’s battery manufacturing facility supports their joint goal of accelerating lithium production to meet growing demand.
Schlumberger announced a significant deployment of advanced digital solutions for PETRONAS, utilizing the DELFI cognitive E&P environment and the OSDU Data Platform. This collaboration aims to enhance field development planning and optimize asset production. Rajeev Sonthalia, president of Digital & Integration at Schlumberger, highlighted the importance of this digital transformation in bolstering PETRONAS as an industry leader. The initiative builds on the success of PETRONAS' LiveFDP program, which utilized the DELFI Petrotechnical Suite for rapid scenario generation across various data domains.
Schlumberger Limited (SLB) announced plans to redeem $664,776,000 in 3.300% Senior Notes due 2021 through its wholly-owned subsidiary, Schlumberger Investment SA. The redemption is set for June 28, 2021, at 100% of the principal amount plus accrued interest. Notices are sent to registered holders of the Notes. Schlumberger continues its commitment to debt reduction, enhancing financial stability and operational efficiency in the energy sector.
Schlumberger announced a collaboration with Amazon Web Services (AWS) to deploy digital solutions via the DELFI cognitive E&P environment on AWS's cloud platform. This partnership aims to enhance access to the DELFI Petrotechnical Suite, enabling customers to use AI-enhanced applications and high-performance computing capabilities. Rajeev Sonthalia emphasized that this collaboration will improve productivity and decision-making for customers. AWS's extensive cloud services will further accelerate innovation in the energy sector, allowing for quicker data analysis and simulation.
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Schlumberger and NOV have announced a partnership to enhance the adoption of automated drilling solutions for the oil and gas sector. This collaboration will integrate Schlumberger's automation technology with NOV's rig platform, aiming to improve efficiency, safety, and overall well construction performance. The joint offering leverages advanced AI and automation to streamline workflows and enhance operational consistency. Schlumberger CEO Olivier Le Peuch emphasized the importance of this partnership for achieving superior drilling outcomes.
Schlumberger Limited (NYSE: SLB) reported Q1 2021 revenue of $5,223 million, down 6% sequentially and 30% year-on-year. Net income was $299 million, translating to a diluted EPS of $0.21. Excluding divestitures, global revenue was flat sequentially, with a 23% decline year-on-year. Notable increases included 10% sequential revenue growth in North America, driven by higher land drilling activity. Cash flow from operations was $429 million, with free cash flow at $159 million. Looking ahead, the company anticipates a rebound in international activity, with expected double-digit growth in revenue in the second half of 2021.
Schlumberger and Equinor, in collaboration with Microsoft, have announced a strategic project utilizing the DELFI cognitive E&P environment. This initiative aims to enhance data integration and decision-making capabilities by deploying the OSDU Data Platform, a new industry data standard. The project will improve efficiency through seamless access to data and advanced AI-driven workflows. It will also incorporate the DELFI Petrotechnical Suite and ExplorePlan solution, ultimately benefiting geoscientists in their exploration activities.
Schlumberger and Microsoft have announced an expanded strategic partnership aimed at accelerating technology advancements for the energy sector. The highlight is the launch of the Schlumberger Enterprise Data Management Solution on the OSDU Data Platform, offering energy companies an OSDU-compliant solution. This platform will enable seamless integration with the DELFI cognitive E&P environment and is built for deployment on Microsoft Azure. The companies plan to enhance data management, AI templates, and scalable data ingestion capabilities through their collaboration.