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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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Abdellah Merad Executive | EVP, Core Services and Equipment | None | EVP since April 2022, with 26 years at SLB. Focused on operational excellence and sustainability. | |
Carmen Rando Bejar Executive | Chief People Officer | None | Chief People Officer since April 2022, leading recruitment and diversity initiatives. | |
Demosthenis Pafitis Executive | Chief Technology Officer (CTO) | None | CTO since February 2020, driving SLB's technological advancements and digital transformation. | |
Dianne Ralston Executive | Chief Legal Officer and Secretary | None | CLO since December 2020, responsible for legal and corporate governance matters. | |
Gavin Rennick Executive | President, New Energy | None | President since April 2022, focusing on decarbonization and clean energy technologies. | |
Howard Guild Executive | Chief Accounting Officer (CAO) | None | CAO since July 2005, overseeing accounting operations and compliance. | |
Kevin Fyfe Executive | Vice President and Treasurer | None | VP and Treasurer since July 2022, previously VP and Controller. | |
Khaled Al Mogharbel Executive | Executive Vice President, Geographies | None | EVP since July 2020, with extensive operational experience in global markets. | |
Olivier Le Peuch Executive | Chief Executive Officer (CEO) | None | CEO since August 2019, with over 35 years at SLB in various leadership roles. Focused on energy transition and technology differentiation. | View Report → |
Rakesh Jaggi Executive | President, Digital and Integration | None | President since April 2023, previously SVP of Sales & Commercial. | |
Stephane Biguet Executive | Executive Vice President and CFO | None | CFO since January 2020, previously VP of Finance. Oversees financial operations and compliance. | |
Ugo Prechner Executive | Vice President and Controller | None | VP and Controller since August 2022, with prior roles in financial management. | |
Vijay Kasibhatla Executive | Director of Mergers and Acquisitions | None | Director since January 2013, leading M&A activities. | |
Jeff Sheets Board | Independent Director | Director at Enerplus Corporation and Westlake Corporation | Director since 2019, former CFO of ConocoPhillips, with expertise in finance and capital management. | |
Jim Hackett Board | Independent Chair of the Board | Chair of NuScale Power, Director of Enterprise Products Holdings, Director of Fluor Corporation | Independent Chair since July 2023, with extensive leadership experience in the energy sector. | |
Maria Moræus Hanssen Board | Independent Director | Director at Scatec ASA, Kosmos Energy, and Å Energi | Director since 2020, former CEO of DEA Deutsche Erdoel AG, with expertise in energy transition. | |
Miguel Galuccio Board | Independent Director | Chairman and CEO of Vista, Chairman of GRIDX | Director since 2017, former SLB executive, with expertise in energy exploration and production. | |
Patrick de La Chevardière Board | Independent Director | Chair of Audit Committee at Michelin | Director since 2019, former CFO of TotalEnergies, with expertise in finance and energy markets. | |
Peter Coleman Board | Independent Director | Chair of Arcadium Lithium, Chair of Infinite Green Energy, Chair of H2EX, Chair of DIRECT Infrastructure | Director since 2021, former CEO of Woodside Petroleum, with expertise in energy transition and governance. | |
Samuel Leupold Board | Independent Director | Chair of Corio Generation, Director of Axpo Holding AG | Director since 2021, former CEO of Ørsted Wind Power, with expertise in renewable energy. | |
Tatiana Mitrova Board | Independent Director | Research Fellow at Columbia University, Visiting Professor at Paris School of International Affairs | Director since 2018, with expertise in energy markets and sustainability. | |
Ulrich Spiesshofer Board | Independent Director | Senior Advisor at Blackstone, Director at Infineon Technologies | Director since 2021, former CEO of ABB Ltd., with expertise in industrial and digital transformation. | |
Vanitha Narayanan Board | Independent Director | Director at ReNew Energy Global and HCL Technologies | Director since 2021, former Chairman of IBM India, with expertise in technology and digital transformation. |
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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?
Research analysts who have asked questions during SLB LIMITED/NV earnings calls.
Arun Jayaram
JPMorgan Chase & Co.
4 questions for SLB
Neil Mehta
Goldman Sachs
4 questions for SLB
Roger Read
Wells Fargo & Company
4 questions for SLB
Scott Gruber
Citigroup
4 questions for SLB
John Anderson
Barclays
3 questions for SLB
Stephen Gengaro
Stifel Financial Corp.
3 questions for SLB
Kurt Hallead
The Benchmark Company
2 questions for SLB
Saurabh Pant
Bank of America
2 questions for SLB
Daniel Kutz
Morgan Stanley
1 question for SLB
James West
Evercore ISI
1 question for SLB
J. David Anderson
Barclays
1 question for SLB
Josh Silverstein
UBS Group
1 question for SLB
Keith MacKey
RBC Capital Markets
1 question for SLB
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
ChampionX Corporation | 2024 | SLB’s all-stock acquisition of ChampionX has a total enterprise value of $8.2 billion, with ChampionX shareholders receiving 0.735 SLB shares per common share, resulting in a 14.7% premium to their closing price, and post-transaction, they will hold approximately 9% of SLB’s stock. This move strengthens SLB’s position in the production stage of oil and gas, integrating ChampionX’s production chemicals, artificial lift systems, and digital technologies to achieve around $400 million in annual pre-tax synergies, with closing expected in Q4 2024 or Q1 2025 subject to regulatory approvals. |
Aker Carbon Capture | 2024 | SLB’s acquisition of an 80% stake in Aker Carbon Capture was executed for NOK 4.1 billion (approximately $0.4 billion) in cash, with additional performance-based payments up to NOK 1.4 billion, alongside structured put and call options setting fair market value floors and ceilings. The deal strategically enhances SLB’s carbon capture and storage capabilities, positioning it to support accelerated industrial decarbonization and compete in a CCS market growing at more than 50% annually with projects spanning North America, Europe, and the Middle East. |
Gyrodata Incorporated | 2023 | SLB completed the acquisition of Gyrodata Incorporated on February 3, 2023, after an announcement in October 2022, as part of a broader investment effort totaling $244 million, net of cash acquired. This acquisition, focused on gyroscopic wellbore positioning and survey technology, was integrated into SLB’s Well Construction business to accelerate the development of wired drillpipe technology and enhance drilling accuracy and efficiency. |
Recent press releases and 8-K filings for SLB.
- SLB launched Tela™, an agentic AI assistant built to automate and transform workflows in the upstream energy sector.
- Tela runs on SLB’s Lumi™ data and AI platform, leveraging large language models and domain foundation models to generate insights and adapt workflows in real time.
- The system follows a five-step agentic AI loop—observe, plan, generate, act, learn—to enable proactive decision-making and continuous improvement.
- Available across SLB’s applications and platforms, Tela is deployable on cloud or on-premises, targeting enhanced productivity in drilling and equipment optimization.
- SLB OneSubsea获得两项EPC合约，将为PTTEP位于马来西亚近海深水的H区（Alum、Bemban、Permai）及首个深水项目Kikeh提供完整海底生产系统（SPS）.
- 合约建立在双方20年合作基础，涵盖生产树、海底设施、控制系统及维护服务.
- H区项目自2021年2月起生产，Kikeh自2007年持续运营，此次合作将延长两油气田生产周期.
- 执行长Mads Hjelmeland表示，将凭借深水环境经验助PTTEP实现项目最大价值.
- SLB’s OneSubsea joint venture has been awarded two EPC contracts by PTT Exploration and Production (PTTEP) for deepwater projects off Malaysia.
- The contracts involve delivery of comprehensive subsea production systems for the Alum, Bemban and Permai gas fields in Block H, plus the Kikeh oil field—Malaysia’s first deepwater oil project.
- These awards build on a 20-year collaboration between SLB and PTTEP.
- SLB’s OneSubsea joint venture has been awarded EPC-contracten by PTTEP for two major deepwater projects off Malaysia.
- The contracts involve delivering comprehensive onderzeese productiesystemen for the Alum, Bemban en Permai gas fields in Block H and the Kikeh oil field.
- These awards build on a 20-jarige samenwerking between SLB and PTTEP and mark Malaysia’s first deepwater oil project inclusion.
- SLB OneSubsea, a joint venture of SLB, Aker Solutions and Subsea7, secured EPC contracts from PTTEP to deliver integrated seabed production systems for the Alum, Bemban and Permai gas fields in Malaysia’s H Block and the Kikeh oil and gas field.
- The agreements extend a 20-year strategic partnership with PTTEP and follow the delivery of over 50 SPS units to date, aiming to maximize project value and lifecycle.
- The projects operate in 1,100–1,300 meter water depths, encompassing Malaysia’s first deepwater oil and gas development at Kikeh (online since 2007) and the H Block gas fields (online since July 2021).
- SLB OneSubsea will leverage digitalization and advanced subsea technologies to help PTTEP optimize field performance and reinforce energy security.
- SLB OneSubsea, SLB’s JV with Aker Solutions and Subsea7, received two EPC contracts from PTTEP to deliver integrated subsea production systems for the Alum, Bemban, Permai and Kikeh deepwater fields off Malaysia.
- The contracts build on a 20-year partnership in which OneSubsea has delivered over 50 subsea systems, covering gas projects in Block H (in production since February 2021) and the Kikeh oil field (operational since 2007).
- The scope includes subsea trees, flowlines and control systems for fields in 1,100–1,300 m water depth, aiming to extend field life and bolster regional energy supply.
- SLB OneSubsea was awarded two EPC contracts by PTTEP to deliver subsea production systems for the Alum, Bemban, and Permai gas fields in Block H and the Kikeh oil project off Malaysia.
- The awards extend a 20-year partnership during which over 50 systems have been deployed for PTTEP.
- The scope includes horizontal subsea trees, umbilicals, control systems, and related services to extend field life at water depths of 1,100–1,300 meters.
- Block H’s Rotan and Buluh fields began gas production in February 2021, while Kikeh has been producing oil and gas since 2007, bolstering regional energy security.
- SLB OneSubsea, a joint venture of SLB, Aker Solutions and Subsea7, won two EPC contracts from PTTEP to expand Malaysia’s deepwater fields at depths of 1,100–1,300 m, covering Alum, Bemban, Permai (Block H) and Kikeh.
- The scope includes delivery of horizontal subsea trees, umbilicals, control systems and related services to extend field life and productivity.
- These awards reinforce SLB’s leadership in offshore oilfield services and its strategic growth in international deepwater markets.
- SLB’s trailing twelve-month revenue reached $35.25 billion with a 3-year growth rate of 16.3% and a market cap of ~$54.79 billion, though an Altman Z-Score of 2.7 signals some financial caution.
- SLB OneSubsea JV was awarded two EPC contracts by PTTEP to deliver subsea production systems for the Alum, Bemban, and Permai deepwater gas fields and Malaysia’s first deepwater oil project at Kikeh.
- The scope includes horizontal subsea trees, umbilicals, control systems, and associated services, leveraging a 20-year collaboration to optimize field performance.
- These awards build on Block H gas production (Rotan and Buluh fields from February 2021) and Kikeh operations since 2007 in water depths of 1,100–1,300 meters.
- Revenue of $8.93 billion (+4% QoQ; –3% YoY)
- GAAP EPS of $0.50 (–32% QoQ; –40% YoY); adjusted EPS of $0.69 (–7% QoQ; –22% YoY)
- Net income attributable to SLB of $739 million (–27% QoQ; –38% YoY)
- Adjusted EBITDA of $2.06 billion (flat QoQ; –12% YoY)
- Operating cash flow of $1.68 billion; free cash flow of $1.10 billion (incl. $153 million M&A payments); Q3 dividend of $0.285/share