Schlumberger Stock Price, News & Analysis

SLB, a global energy technology company, has partnered with the She Is Foundation to launch the She Is an Astronaut program, aimed at inspiring young women in STEM fields. The program brought 24 girls aged 11-16 from Colombia, Ecuador, and Peru to the NASA Space Center in Houston, Texas. Participants engaged in virtual and in-person STEM learning over several months, culminating in a week-long experience that included visits to NASA and SLB's technology center.

The program offers participants a behind-the-scenes look at mission control rooms and astronaut training areas, emphasizing the importance of diversity and collaboration in STEM. Carlos Sarmiento, director of Culture, Diversity and Inclusion at SLB, highlighted the company's belief in the transformative power of education. The initiative aims to empower young women to become future leaders in STEM and develop projects that positively impact their communities.

SLB has been named a finalist in the 2024 Reuters Sustainability Awards for the Net Zero: Supply Chain Decarbonization category. This recognition highlights SLB's efforts in managing and transforming their supply chain to reduce greenhouse gas emissions. The company was selected from over 700 entries across 17 categories.

Gwenola Boyault, VP of Planning and Supply Chain at SLB, emphasized the importance of initiatives like their Carbon Disclosure Project (CDP) program and integrating environmental scoring into the tender process. These efforts have helped suppliers advance in climate action maturity.

SLB's approach to sustainability extends throughout its value chain, engaging employees, customers, and suppliers. Mikki Corcoran, VP of Sustainability, stressed the role of technology in helping SLB and its partners on a low-carbon path. The company's sustainable supply chain practices are detailed in their Sustainability Report.

SLB (NYSE: SLB) has announced its upcoming third-quarter 2024 results conference call, scheduled for October 18, 2024. The call will begin at 9:30 am US Eastern time, with a press release detailing the results to be issued at 7:00 am US Eastern time. Investors can access the call by contacting the Conference Call Operator at +1 (844) 721-7241 (North America) or +1 (409) 207-6955 (outside North America) using the access code 8858313.

A live webcast will be available at www.slb.com/irwebcast for listen-only participants. Following the call, a replay will be accessible at the same website until November 18, 2024, and via phone using the access code 8893594.

SLB (NYSE: SLB) has announced a joint venture agreement with ADNOC Drilling Company and Patterson-UTI to create Turnwell Industries OPC. This partnership aims to accelerate the UAE's unconventional oil and gas program, with an initial target of completing 144 wells by the end of 2025. The joint venture will leverage AI, smart drilling design, completions engineering, and production solutions.

SLB will provide integrated drilling, stimulation, and completion services, along with project management, digital capabilities, and subsurface support. ADNOC Drilling will hold a 55% majority stake, SLB a 30% stake, and Patterson-UTI the remaining 15%. The partnership is expected to elevate the performance of UAE's unconventional energy assets in a safe and sustainable manner.

SLB and Aker Carbon Capture Joint Venture has unveiled its new company name: SLB Capturi. The company aims to accelerate industrial decarbonization through innovative, industrial-scale carbon capture solutions. SLB Capturi offers a modular product platform with Just Catch™ and Big Catch™ solutions, designed for efficient integration across various industrial sectors.

SLB Capturi is already involved in significant carbon capture projects in Norway, Denmark, and the Netherlands. In August 2024, the company announced its first US-based project for a large-scale carbon capture plant at a pulp and paper facility on the U.S. Gulf Coast, aiming to remove 800,000 tonnes of CO2 annually.

The company's technologies have been tested across multiple industrial processes, ensuring reliability and efficiency in various industry segments. SLB Capturi is positioned to play a leading role in the global effort to combat climate change through the deployment of commercial-ready carbon capture technology and advancement of next-generation innovations.

SLB (NYSE: SLB) and NVIDIA are collaborating to develop generative AI solutions for the energy industry. This partnership aims to accelerate the deployment of industry-specific AI foundation models across SLB's platforms, including Delfi™ and Lumi™. The collaboration leverages NVIDIA NeMo™ to create custom generative AI for subsurface exploration, production operations, and data management.

The initiative seeks to optimize operations, enhance efficiency, and reduce carbon footprints in the energy sector. SLB will integrate NVIDIA NeMo and NIM™ inference microservices to offer customers a robust platform for implementing generative AI in technical workflows. This collaboration builds on a partnership that began in 2008, focusing on GPU use for subsurface imaging and geoscience interpretation.

SLB (NYSE: SLB) has launched the Lumi™ data and AI platform, integrating advanced AI capabilities, including generative AI, with workflows across the energy value chain. The platform aims to accelerate AI adoption at scale for SLB's global customers in the energy industry. Key features include:

- Open, secure, and modular design
- Access to high-quality data across various domains
- Embedded large language models (LLMs) and industry-optimized domain foundation models
- Availability on major cloud service providers and on-premises
- Compliance with NIST cybersecurity standards and emerging AI regulations

The Lumi platform is expected to enhance SLB's Delfi™ digital platform, enabling more powerful reservoir modeling, seismic interpretation, and operational efficiencies for energy customers.

ILiAD Technologies celebrates the successful use of its direct lithium extraction (DLE) technology at SLB's Clayton Valley Demonstration Plant in Nevada. The plant, commissioned in March 2024, operates at one-tenth of commercial scale and has demonstrated significant improvements in lithium production:

- 500 times faster production time
- 96% lithium recovery rate
- Reduced land and water use
- Low-temperature processing at 95°F

ILiAD's technology, part of SLB's integrated solution, efficiently extracts high-purity lithium chloride from brines with a smaller environmental footprint compared to traditional methods. This success follows SLB's significant investment in ILiAD Technologies earlier this year, positioning the company to meet growing global demand for lithium in electric vehicle batteries.

SLB has demonstrated a breakthrough in sustainable lithium production at its Nevada plant, integrating direct lithium extraction (DLE), concentration, and conversion technologies. The process produces lithium 500 times faster than conventional methods, using only 10% of the land and significantly less water and chemical reagents. Key achievements include:

- 96% lithium recovery rate from brine, verified independently
- Production of high-purity lithium carbonate or hydroxide
- Flexible output of lithium chloride, carbonate, or hydroxide
- Process completion in hours, compared to 18 months for evaporation methods
- Reduced environmental impact with spent brine returned to its source

This innovative approach positions SLB to accelerate the deployment of commercial-scale facilities for high-quality lithium products, important for the electrification economy.