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 (NYSE: SLB) is a global energy technology company active in support activities for oil and gas operations, with a strong emphasis on digital technologies, AI, subsea systems, and emerging low‑carbon solutions. The SLB news stream highlights how the company applies technology and services across upstream oil and gas, production optimization, and carbon storage projects.
Investors and industry followers can use this page to review earnings announcements, conference call schedules, major contracts, and technology launches. Recent releases include quarterly results with detailed segment and geographic breakdowns, commentary on market conditions, and updates on the integration of the ChampionX acquisition into SLB’s Digital and Production Systems divisions.
SLB’s news also showcases large project awards and collaborations. Examples include a five‑year stimulation services contract from Aramco for unconventional gas fields, major completions and electric completions contracts for ultra‑deepwater wells offshore Brazil, and subsea EPC awards for deepwater projects in Malaysia and Norway through the SLB OneSubsea joint venture. These items illustrate SLB’s involvement in unconventional gas, deepwater, and subsea developments.
Another recurring theme in SLB’s news is digital and AI innovation. The company has announced the launch of Tela, an agentic AI assistant for the upstream sector, and a strategic collaboration with Shell to develop digital and AI solutions on SLB’s Lumi data and AI platform. SLB also reports on contracts in carbon capture and storage, such as deploying its Sequestri carbon storage solutions portfolio for the Northern Endurance Partnership in the North Sea.
By following this news page, readers can monitor how SLB’s contracts, digital initiatives, subsea projects, and CCS activities evolve over time and how management describes market conditions, regional activity, and strategic priorities.
Schlumberger New Energy has appointed Florence Lambert as CEO of its Genvia clean hydrogen production technology venture, effective March 1, 2021. Lambert, with over 20 years in new energy technologies, aims to leverage Genvia's innovations to meet growing hydrogen demands, projected to account for 20% of total energy needs in 30 years. Genvia's technology features a 30% higher electricity conversion efficiency for hydrogen production, promising cost competitiveness. The venture anticipates establishing a pilot line in 2021 and plans to launch a giga factory by 2025.
Schlumberger Limited (NYSE: SLB) announced its fourth-quarter results for 2020, reporting revenue of $5,532 million, a 5% sequential increase but down 33% year-on-year. The company's net income was $374 million, reflecting a 12% increase from the previous quarter. Adjusted EBITDA rose to $1,112 million, up 9% sequentially. Digital & Integration revenue grew 13%, while North America saw a 13% sequential revenue increase, primarily due to strong land and offshore activity. Schlumberger's CEO stated that the performance indicates the start of an industry recovery, with expectations for increased spending in 2021.
Schlumberger New Energy, in collaboration with CEA and partners, announced the European Commission’s approval to form Genvia, a clean hydrogen production venture. This public-private partnership aims to develop the CEA's high-temperature reversible solid oxide electrolyzer technology, which is expected to be the most efficient for clean hydrogen production. The venture's gigafactory will be located in Béziers, France, supporting energy transition goals for carbon neutrality by 2050.
Liberty Oilfield Services (NYSE: LBRT) and Schlumberger (NYSE: SLB) have completed the transfer of Schlumberger’s onshore hydraulic fracturing business, OneStim®, to Liberty as of December 31, 2020. This strategic move grants Liberty a 37% equity interest in the company, enhancing its position in North America’s completion services market. The deal aims to foster innovation and sustainability in energy production. Additionally, Liberty has appointed two Schlumberger executives to its board, emphasizing a focus on technology collaboration.
Schlumberger Limited (NYSE:SLB) will host a conference call on January 22, 2021, to review its fourth quarter and full year results ending December 31, 2020. The call will commence at 8:30 am US Eastern time, with a press release issued at 7:00 am. Participants can dial in 10 minutes prior to the start, using +1 (844) 721-7241 for North America or +1 (409) 207-6955 internationally, with access code 2660129. A simultaneous webcast will be available at www.slb.com/irwebcast. A replay will be accessible until February 22, 2021.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (ICR) of 'a+' for Castle Harbour Insurance Limited and Harrington Sound Insurance Limited. These captive insurance companies serve Schlumberger Limited (SLB), with a stable outlook. The ratings reflect their strong balance sheet strength, excellent operating performance, and suitable enterprise risk management practices. Both companies demonstrate robust risk-adjusted capitalization and provide customized insurance coverages, crucial for Schlumberger's operations.
Lufkin Industries has successfully acquired the North American Land Rod Lift Business from Schlumberger (NYSE: SLB) as of November 2, 2020. This acquisition enhances Lufkin's product offerings, including downhole pumps and beam pumping units, and consolidates its position in the North American oil market. Lufkin aims to leverage this expansion to provide superior technology and customer service, combining strengths from both companies to benefit clients. The deal is part of KPS Capital Partners' strategy to grow Lufkin despite current market volatility.
Schlumberger Limited (NYSE: SLB) reported a 2% decline in third-quarter revenue to $5.258 billion, down 38% year-on-year. Net loss was $82 million, with diluted EPS of $(0.06). Adjusted EBITDA rose 21% sequentially to $1.018 billion, showing an improved EBITDA margin of 19.4%. North America revenue fell 59% year-on-year to $1.157 billion, whereas international revenue declined 27%. Schlumberger is focusing on cost reductions, targeting $1.5 billion in structural savings annually. Future strategies include enhancing digital technologies and expanding its New Energy portfolio.