SLB (SLB) Stock News & Articles

Chevron and other US firms are nearing deals to invest billions in Venezuelan oil fields, following political changes. Chevron increased its stake in a joint venture and aims to boost production to 375,000 barrels per day. Hunt Oil and SLB also signed agreements, while ExxonMobil and ConocoPhillips remain cautious. Venezuela's oil output is recovering, with half of exports going to the US.

SLB (NYSE:SLB) secured data access from PDVSA and discussed reactivating Venezuelan drilling rigs, with four potentially returning by year-end. SLB is up 41% YTD, driven by international upcycle. PDVSA previously defaulted on billions owed to SLB, and payment terms remain confidential. SLB's Q2 revenue from Latin America was $1.714B, up 15% YoY. The company trades at a forward P/E of 21x with an analyst target of $61.93.

SLB and its joint venture OneSubsea have secured a FEED contract for the Havstjerne CCS hub in the Norwegian North Sea. The project, led by Harbour Energy and Stella Maris CCS, aims to store CO2 emissions from European industrial facilities. SLB will handle reservoir analysis and well design, while OneSubsea manages subsea injection systems. The project received $226.5 million in EU funding and confirmed suitable reservoir characteristics in a 2025 appraisal well.

SLB and Venezuela's PDVSA have signed a contract granting SLB access to Venezuela's oilfield data. The deal aims to modernize PDVSA's outdated databases and improve data management using new technology, including AI. The contract follows years of delayed payments and recent cyberattacks on PDVSA's systems, according to sources.

SLB Ltd, a leading oilfield services provider, was named a strategic partner for the Havstjerne carbon storage project in the Norwegian North Sea. The company offers a 2.15% dividend yield with a 42% payout ratio and a 20.6% 3-year dividend growth rate. Its stock is trading 18.5% above the GF Value™ intrinsic value of $45.56, with a GF Score™ of 79/100. Insiders have sold $20.8 million worth of shares in the past year, while 21 premium gurus hold SLB shares, with mixed activity.

SLB (NYSE: SLB) was chosen as the strategic reservoir partner for the Havstjerne carbon storage project in the Norwegian North Sea, operated by Harbour Energy (LSE: HBR) and Stella Maris CCS. SLB will provide technology and engineering services for the project's concept and FEED phases, aiming to support a final investment decision. The project received 225 million euros from the EU Innovation Fund in 2025 and focuses on cost-effective, large-scale CO2 storage for European industrial emitters.