Rothschild & Co Redburn Adjusts PT on SLB to $68 From $66, Maintains Buy Rating

SLB (Schlumberger) secured four three-year integrated well construction contracts with Aramco in Saudi Arabia and a project with OQ Exploration in Oman. These deals expand SLB's long-duration project workload and link digital services to recurring revenue. Analysts highlight the potential for 19% upside, with projections of $42.2B revenue and $5.6B earnings by 2029. The contracts support SLB's narrative of international spending and higher-margin digital workflows, though execution risks remain.

SLB has secured four contracts from Saudi Aramco to construct over 450 wells in Saudi Arabia. The three-year deals, with a two-year extension option, involve integrated well construction services. SLB's approach combines planning, digital workflows, and execution. The contracts expand SLB's business in the region and reflect Aramco's confidence in SLB's capabilities.

SLB has secured four multi-year contracts with Aramco to deliver multiple wells in various operating environments in Saudi Arabia. The contracts position SLB to provide services across diverse settings.

SLB announced it won four contracts from Saudi Aramco to deliver over 450 wells, supporting oil and gas development in Saudi Arabia. The company called this a significant expansion of its integrated well services. SLB is a publicly traded company on the NYSE.

SLB has secured four contracts from Aramco to construct over 450 oil and gas wells in Saudi Arabia. Each contract spans three years, with possible two-year extensions. SLB will provide comprehensive well construction services, leveraging its integrated model and digital technologies. The deals strengthen SLB's presence in Saudi Arabia and its partnership with Aramco. Financial details were not disclosed.

SLB has secured four integrated well construction contracts from Aramco, valued at over 450 wells over three years, with a potential two-year extension. The contracts cover end-to-end well construction services, aiming to reduce costs and improve efficiency. According to SLB, this reflects Aramco's confidence in their integrated model and capabilities, supporting Aramco's plans to expand oil and gas production.