Schlumberger Stock Price, News & Analysis

SLB (NYSE: SLB) announced the completion and handover of its first modular carbon capture plant at Twence's waste-to-energy facility in Hengelo, Netherlands. The plant, built by SLB Capturi, features the standard, modular Just Catch™ design and has the capacity to capture up to 100,000 metric tons of CO2 annually.

The captured CO2 will be utilized in the horticulture and food and beverage sectors. The modular design reduces onsite installation and outfitting work, offering a more cost-efficient and easier-to-deploy solution compared to market alternatives. The plant will begin supplying CO2 to the greenhouse horticulture sector in spring.

SLB reported strong financial results for Q4 and full-year 2024. Fourth-quarter revenue reached $9.28 billion, up 1% sequentially and 3% year-on-year. Full-year revenue was $36.29 billion, marking a 10% increase from 2023.

The company demonstrated solid profitability with Q4 GAAP EPS of $0.77 and adjusted EPS of $0.92. Full-year GAAP EPS grew 7% to $3.11, while adjusted EPS increased 14% to $3.41. The company generated $3.99 billion in free cash flow for 2024.

SLB's Board approved a 3.6% increase in quarterly dividend to $0.285 per share and initiated $2.3 billion in accelerated share repurchases. The company's international revenue grew 12% year-on-year, led by strong performance in Middle East & Asia (18% growth) and Europe & Africa (13% growth). Digital & Integration division showed notable growth with a 10% revenue increase year-on-year.

SLB (NYSE: SLB) has secured significant drilling contracts from Shell for deep- and ultra-deepwater assets across multiple regions, including the UK North Sea, Trinidad and Tobago, and the Gulf of Mexico. The three-year projects will integrate SLB's AI-enabled digital drilling capabilities with its ultra-deepwater expertise to deliver consistent and cost-efficient wells.

The contracts encompass digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services. Services have already commenced and will be managed through SLB's Performance Live™ centers.

SLB (NYSE: SLB) has announced its upcoming conference call to discuss fourth-quarter and full-year 2024 financial results, scheduled for January 17, 2025, at 9:30 a.m. U.S. Eastern time. The company will release its press release at 7:00 a.m. U.S. Eastern time on the same day.

The conference call will be accessible via phone and webcast. North American participants can dial +1 (833) 470-1428, while international callers should use +1 (404) 975-4839, with access code 491926. A simultaneous webcast will be available at the company's website, with replay access until January 24, 2025.

SLB (NYSE: SLB) has secured a contract from Petrobras for two subsea raw seawater injection (RWI) systems for the Búzios field in Brazil. The systems will support FPSOs P-74 and P-75, each including a subsea seawater injection pump, umbilical system, and topside variable speed drive. These RWI systems aim to increase production by addressing water injection capacity bottlenecks and will reduce greenhouse gas emissions per barrel of oil compared to conventional topside injection systems.

The project will strengthen SLB's local presence in Brazil through manufacturing plants and subsea service facilities. The company will provide technical support using AI-enabled Subsea Live™ services, including condition monitoring and domain expert access.

SLB has secured a major contract with Petrobras following a competitive tender for integrated services across all Petrobras' offshore fields in Brazil. The approximately $800 million contract involves overseeing the construction of more than 100 deepwater wells using up to nine ultra-deepwater rigs. The three-year contract begins in April 2025 and covers operations in the Campos, Santos, and Espírito Santo Basins, with potential expansion to the Equatorial Margin.

The project will utilize advanced technologies including SLB's Ora™ intelligent wireline formation testing platform and SpectraSphere™ fluid mapping-while-drilling service, with most technology and equipment being sourced locally. These technologies aim to enhance operational efficiency, minimize risks, and reduce emissions while providing real-time reservoir characterization and improved drilling decisions.

SLB has introduced Neuro autonomous geosteering, an AI-powered drilling technology that automatically guides drill bits through the most productive reservoir layers. The system dynamically interprets real-time subsurface data and makes autonomous decisions, eliminating the need for manual interpretation by geologists.

The technology builds upon SLB's existing Neuro autonomous directional drilling system, adding high-fidelity downhole measurements for optimal well placement. In a successful deployment in Ecuador for Shaya Ecuador S.A., the system executed 25 autonomous trajectory changes across a 2,392-foot lateral section, resulting in one of the country's best-producing wells.

SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The facility will reduce emissions by up to 400,000 metric tons of CO2 annually. The completed plant includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities.

The plant, now ready for testing and commissioning, will enable production of net zero cement without compromising product quality. It is part of The Longship CCS project, Europe's first complete value chain for capture, transport, and storage of industrial CO2 emissions. Operations are scheduled to start during 2025.

SLB Capturi has completed construction of the world's first industrial-scale carbon capture plant at Heidelberg Materials' cement facility in Brevik, Norway. The plant is designed to capture up to 400,000 metric tons of CO2 annually, enabling production of net zero cement without compromising product quality. The facility includes carbon capture system, compression system, heat integration system, intermediate storage, and loadout facilities. Part of The Longship CCS project, Europe's first complete value chain for CO2 capture, transport, and storage, the plant will begin commissioning phase with operations starting in 2025.