Schlumberger

Background

Schlumberger NV manufactures evaluation, drilling, and production equipment and provides field services with assets in over 120 countries. Subsidiaries include OneSubsea, Cameron, M-SWACO, Smith Bits, WesternGeco, and Omni Seals. Operations are organized into four business units: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company is registered in Curaçao with shares listed on the NYSE (SLB), LSE, PAR, and SIX exchanges. The company takes its name from brothers Conrad and Marcel Schlumberger who founded the company.

Société de Prospection Électrique was founded in 1926 in France to specialize in wireline well logging, performing the first electrical resistivity well log in 1927. Formation testing company Johnson Testers was the first significant acquisition in 1956. In 1960, Dow Chemical and Schlumberger formed the Dowell Schlumberger 50-50 joint venture to provide pumping services. Production testing company Flopetrol was acquired in 1971. In 1977, The Analysts directional drilling and mud logging company was acquired. Schlumberger bought 50% of Dowell North America in 1984 and combined The Analysts with Dowell's drilling division to form Anadrill. 50% of Norway-based seismic provider Geco was purchased in 1986 with the remaining shares purchased in 1988. Germany-based Prakla-Seismos was acquired in 1991 and merged with this entity to form the Geco-Prakla division. Schlumberger acquired GeoQuest Systems in 1992, and the petroleum division of Intera Technologies was added in 1995 including the ECLIPSE software. The petroleum division of Intera Technologies was added in 1995. Technoguide was founded in 1996 by former Geomatic employees.

American completion tools manufacturer Camco was acquired in 1998 as well as reservoir fluid sampling company Oilphase. Schlumberger purchased Merak in 1999. The M-I Swaco drilling fluids joint venture composed of legacy Magcobar, IMCO Services, and Anchor Drilling Fluids was formed in 1999, owned 60% by Smith International and 40% by Schlumberger with Halliburton selling a 34% stake in M-I at the formation. In 2000, Geco-Prakla was combined with Western Geophysical including the legacy Geophysical Services Incorporated (GSI) to form the WesternGeco joint venture 70% owned by Schlumberger and 30% by Baker Hughes. Smith acquired Neyrfor Weir in 2002. In 2003, a stake in Russian drilling services provider PetroAlliance was acquired. Schlumberger Information Solutions (SIS) acquired Technoguide in 2003 including Petrel Workflow Tools and Decision Team in 2004. Integrated Project Management (IPM) was introduced in 2005 to provide complete supervision of well construction. Baker Hughes' remaining shares in WesternGeco were acquired in 2006 as well as the remaining shares of PetroAlliance. Schlumberger acquired a majority stake in Norway-based subsea equipment designer Framo Engineering was acquired in 2007. The company acquired U.K.-based V.I.P.S. in 2007, Germany-based Integrated Exploration Systems (IES) in 2008, and France-based Techsia in 2009.

Smith was acquired in 2010, adding their drill bits and drilling tools including PathFinder directional drilling. Also in 2010, France-based Geoservices was acquired including their mud logging and slickline technology. In 2011, Cameron International acquired LeTourneau, and Schlumberger purchased the remaining shares in Framo which was used to form the OneSubsea joint venture with Cameron in 2012. The remaining shares of Canada-based land rig contractor Saxon was acquired in 2014, and a minority stake in Russia-based land rig contractor Eurasia Drilling was purchased in 2015. T&T Engineering were acquired in 2015, and the company acquired Cameron as well as coiled tubing units from Xtreme in 2016. In 2017, a joint venture with Weatherford called OneStim was created to provide hydraulic fracturing services to the United States and Canada. In May 2020, the company began consolidating 17 product lines into four product divisions.

Company Details

Vertical:

Sector:

Control:

Headquarters:

Employees:

Operated Facilities

Well Construction

4
13
6
6
33
54
58
55

Well Servicing

1
18
1
1
15
26
5
17
96
19
12

Oil & Gas Production

1
7
12
1
7
1

Energy Transfer

2
1

Equity Holdings

Power Generation

Well Servicing

37%

Well Construction

49%
49%
14.2%

Marine Construction

Process Control

47%

Oil & Gas Extraction

15%

Commercial Building

Leaders

President of Western Hemisphere Not Available
President of North America Land Production Not Available
EVP of Technology Not Available
VP of Operational Planning & Resource Management Not Available
Director Not Available
EVP of Corporate Engagement Not Available
President of Eastern Hemisphere Not Available
President of WesternGeco Not Available
CEO Not Available
Senior Strategic Advisor to the CEO Not Available
EVP & CFO Not Available
President of North America Land Drilling Not Available