Houston, TX-based SLB is a leading oilfield services company, providing services to the oil and gas explorers, and producers across the world. Through oilfield services contracts, SLB helps the upstream energy players to locate oil and gas, and to drill and evaluate hydrocarbon wells. The company, founded in 1926, also supports the explorers to construct oil and gas wells and produce optimum volumes of the commodities from the existing wells.
From the onset of 2020 through mid-2022, the broader energy market felt the impact of the coronavirus pandemic. Upstream energy companies reduced capital spending to navigate ...
Houston, TX-based SLB is a leading oilfield services company, providing services to the oil and gas explorers, and producers across the world. Through oilfield services contracts, SLB helps the upstream energy players to locate oil and gas, and to drill and evaluate hydrocarbon wells. The company, founded in 1926, also supports the explorers to construct oil and gas wells and produce optimum volumes of the commodities from the existing wells.
From the onset of 2020 through mid-2022, the broader energy market felt the impact of the coronavirus pandemic. Upstream energy companies reduced capital spending to navigate through the challenges of lower oil prices caused by the pandemic. Consequently, demand for oilfield services plummeted, as these service providers play a crucial role in assisting upstream firms in efficiently drilling oil wells. However, there has been a significant shift in recent times. Oil prices have rebounded substantially and are anticipated to remain robust in 2024. As a result, the overall business landscape is poised to remain favorable, with increased exploration and production activities driving up the demand for oilfield services, thereby benefiting SLB.
Overall, with operations across 120 countries, the company provides the most comprehensive range of oilfield services and products to the explorers and producers of hydrocarbons. Notably, with presence in almost all the key oilfield services markets across the globe, SLB conducts its business through four segments — Digital & Integration, Reservoir Performance, Well Construction and Production Systems.
In 2023, SLB's revenue distribution was as follows: Digital & Integration contributed 11.67%, Reservoir Performance added 19.3%, Well Construction was the largest with 38.11%, and Production Systems accounted for 32.75%.