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SLB, formerly known as Schlumberger Limited, is a global technology company dedicated to advancing energy innovation and supporting the energy transition. Operating in over 100 countries, SLB is organized into four main divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems . The company offers a range of products and services designed to enhance energy efficiency, optimize reservoir productivity, and improve well and production systems . In 2023, SLB's international operations represented a significant portion of its revenue, underscoring its global reach .
- Reservoir Performance - Focuses on reservoir-centric technologies and services to optimize reservoir productivity and performance, developing technologies for evaluating, intervening, and stimulating reservoirs to maximize return on investment .
- Well Construction - Offers a comprehensive portfolio of products and services aimed at optimizing well placement and performance, maximizing drilling efficiency, and improving wellbore assurance .
- Production Systems - Develops technologies and provides expertise to enhance production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries, including artificial lift, completions equipment, surface systems, valves, processing solutions, and OneSubsea integrated solutions for the subsea market .
- Digital & Integration - Combines SLB's digital solutions and data products with its Asset Performance Solutions (APS) to enhance performance by reducing cycle times, accelerating returns, and lowering costs and carbon emissions, including digital solutions, exploration data, and data processing services .
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Given the cautious approach to discretionary short-cycle spending and the expectation of low to mid-single-digit growth in international upstream spending in 2025, how confident are you in delivering further margin expansion, and what specific strategies will you employ to achieve this in a potentially flat revenue environment?
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With the integration of ChampionX now anticipated to close in the first quarter of 2025, have any new challenges emerged that could impact the expected synergies, and can you provide more detail on how this acquisition will enhance your financial performance amidst evolving market conditions?
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Considering the ongoing pressures from commodity price fluctuations and concerns over an oversupplied market, how are you adjusting your strategy in North America where activity remains constrained, and what specific measures are you taking to mitigate the impact on your revenues and margins in this region?
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Your digital business has shown strong growth, but as upstream spending potentially slows, how sensitive is your digital revenue growth to reductions in upstream investment, and can you quantify the potential impact on your digital growth trajectory?
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With the planned sale of the Palliser asset, which contributes approximately $500 million in annual revenue, how do you plan to offset the loss of this revenue in the long term, and what impact will this divestment have on your production capacity and earnings volatility?