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 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.
Schlumberger New Energy has announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy, located in Clayton Valley, Nevada. This pilot plant will utilize a differentiated direct lithium extraction (DLE) process to produce high-purity lithium more efficiently, reducing production time from over a year to weeks. With projected growth in battery-grade lithium demand due to the electric vehicle market, the pilot is a step toward a full-scale production facility, expected to begin operations before the end of 2021.
Schlumberger Limited (NYSE: SLB) is set to hold a conference call on April 23, 2021 to discuss its first-quarter results for the period ending March 31, 2021. The call will commence at 9:30 am US Eastern time, with a press release scheduled for 7:00 am. Participants can access the call by contacting the Conference Call Operator at specified phone numbers, using access code 8858313. A webcast will also be available on their website.
Schlumberger New Energy, Chevron, Microsoft, and Clean Energy Systems are collaborating on a pioneering bioenergy with carbon capture and sequestration (BECCS) project in Mendota, California. This facility will transform agricultural waste into renewable energy while capturing over 99% of CO2 emissions for permanent storage. Expected to eliminate about 300,000 tons of CO2 annually, this initiative aligns with California's environmental goals and is projected to create 300 construction jobs and 30 permanent jobs. The project represents a significant advancement in sustainable energy solutions.
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.