SLB is set to create Turnwell Industries, along with ADNOC and Patterson-UTI, to advance the UAE's unconventional oil and gas program.
Schlumberger (SLB) concluded the recent trading session at $42.98, signifying a +0.19% move from its prior day's close.
The partnership is likely to enable SLB's industry-leading subsurface software, Petrel, and wellbore software, Techlog, to be accessible on AWS, starting in 2024.
The energy industry has come into the spotlight recently as crude oil and natural gas prices have retreated. Most oil stocks have pulled back as investors have embraced the new normal of lower prices as demand concerns have remained.
SLB and Aramco are working to develop digital solutions aimed at reducing greenhouse gas emissions. The idea is to consolidate these solutions into SLB's digital sustainability platform.
SLB's strong fundamentals drive premium valuations with high growth expectations, but there remains some uncertainty.
SLB partners with NVIDIA to develop AI solutions for the energy sector, enhancing exploration, production, data management, and sustainable energy initiatives.
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Schlumberger (SLB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
SLB launches the Lumi platform, integrating advanced AI across energy workflows. This helps improve decision-making skills and drives operational efficiencies.
SLB CEO Olivier Le Peuch joins 'Squawk Box' to discuss the state of the global energy market, impact of AI on the energy industry, the company's continued presence in Russia, and more.
Schlumberger is poised for strong growth and margin expansion in 2H24, driven by high-quality backlog turning to revenue. SLB's growth is expected internationally, with deepwater developments in Latin America and Africa, and a focus on gas production in the Middle East and Asia. Management's focus on operational efficiency, strategic resource allocation, and the ChampionX acquisition supports margin improvement and an expansion of offerings.