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.
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.