EBITDA Guidance Increase
Q: Did SLB raise its EBITDA guidance?
A: Management confirmed that they now expect year-on-year EBITDA growth of 14% to 15%, slightly higher than the original mid-teens guidance, driven by margin expansion in the second half.

Return of Capital Plans
Q: What are the return of capital intentions?
A: SLB remains committed to returning $3 billion to shareholders in 2024 through dividends and buybacks, having accelerated buybacks in June after the shareholders' vote. They may adjust depending on cash flow and divestiture proceeds but maintain the $3 billion target for now.

Cost-Saving Initiatives
Q: Can you detail the cost efficiency programs?
A: SLB is implementing efficiency programs, including tactical adjustments in U.S. land operations, centralizing digital delivery, and streamlining support structures, resulting in a pretax charge of over $100 million this quarter and expected similar in Q3. These actions are expected to improve margins, with a payback period of 9 to 12 months.

North America Revenue Outlook
Q: What's the outlook for North America revenue growth?
A: Originally guided to positive up to mid-single-digit growth, SLB has revised down North America growth expectations due to market impacts but still sees opportunities to grow in the second half, particularly in deepwater Gulf of Mexico and technology-intensive land markets.

M&A and Capital Allocation
Q: What's the appetite for new acquisitions?
A: Having been active recently, SLB is focusing on integrating current acquisitions like Aker Subsea, Aker Carbon Capture, and the planned ChampionX deal. Currently, they prioritize returns to shareholders over new M&A.

Digital Business and Segmentation
Q: Will you re-segment to highlight digital business?
A: While unable to comment specifically due to regulatory processes, management is considering restructuring at closing to better expose and measure success in the rapidly growing digital business, which could reach $3 billion in revenues next year.

Divestment of Canada APS Business
Q: What's the status of the APS business in Canada?
A: SLB is progressing in divesting its Canada APS asset, having received several offers and moving into negotiations with selected buyers.

Deepwater Market Outlook
Q: How is the deepwater market developing?
A: Management sees a resilient and multi-faceted deepwater market with FIDs exceeding $100 billion this year and next, supported by production, new projects, and exploration activities. SLB is confident in its exposure, with offshore representing about 50% of international revenue.

Unconventional Gas in Middle East
Q: How is SLB positioned in Middle East gas projects?
A: SLB sees strong growth across the Middle East, particularly in unconventional gas projects like Saudi Arabia's Jafurah program. They benefit from recent contract awards and have diversified exposure in the region across production, exploration, and CCS.

Aker Carbon Capture Potential
Q: What's the outlook for Aker Carbon Capture?
A: The carbon capture market is growing over 50% annually. The acquisition allows SLB to offer integrated solutions globally, combining technologies to expand margins as the business scales, with active projects in Europe and new opportunities in North America and the Middle East.

All-Electric Subsea Technology
Q: What's the opportunity with all-electric subsea?
A: SLB is enthusiastic about all-electric subsea technology, which reduces footprint and costs, enables full digital control, and improves carbon footprint. They've secured contracts in Norway and believe this is the future for deepwater development.

Exploration Activity and Data Sales
Q: Is exploration activity impacting data sales?
A: Exploration data license sales are up, contributing to digital growth. This is driven by increased global exploration, with over 70 licensing rounds announced this year. SLB expects this trend to continue, boosting participation in these markets.