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 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.