SLB unveils new electric well completions tech

HOUSTON - SLB (NYSE: SLB), a global energy technology company with a market capitalization of $45.92 billion and annual revenue of $36.07 billion, announced today the launch of Electris™, a new portfolio of digitally enabled electric well completions technologies. The innovative solution is designed to enhance production and recovery while simultaneously reducing the total cost of ownership of oil and gas assets. According to InvestingPro data, SLB maintains a strong financial health score, positioning it well for continued innovation in the energy sector.

Electris™ completions aim to revolutionize reservoir management by providing real-time production intelligence across the reservoir, enabling operators to respond dynamically to changing production conditions. The technology is said to improve reservoir management throughout the life of the well and access reserves that conventional systems cannot.

According to Paul Sims, president of Production Systems at SLB, Electris™ completions represent a significant advancement in the industry, particularly for operators dealing with increasingly complex reservoirs. Sims highlighted that the technology could shift production economics, leading to higher recovery factors and maximizing return on investment. The company’s focus on innovation is supported by its strong financial foundation, including an impressive 55-year track record of consistent dividend payments and a current dividend yield of 3.38%.

The company has reported over 100 installations of Electris™ technologies in five countries. A notable application in Norway involved deploying the technology offshore to optimize oil production and control water output, resulting in reduced energy consumption for water treatment processes.

The announcement was made during the Offshore Technology Conference currently being held in Houston, Texas. SLB has positioned itself as a leader in energy innovation, focusing on digital solutions, decarbonization, and new energy systems to support the energy transition.

While SLB’s press release contains forward-looking statements, they are subject to various risks and uncertainties, and actual outcomes may differ from expectations. The company has cautioned that these forward-looking statements are predictions based on current assumptions and are not guarantees of future performance.

This news is based on a press release statement from SLB.

In other recent news, SLB reported its first-quarter 2025 financial results, revealing earnings per share of $0.72, which fell short of the forecasted $0.74. The company’s revenue for the quarter was $8.49 billion, also missing the anticipated $8.64 billion. Despite these results, Stifel analysts maintained a Buy rating for SLB, although they revised the stock price target down to $54 from $58. The analysts highlighted SLB’s strong free cash flow and commitment to return at least $4 billion to shareholders in 2025 as positive factors. Additionally, SLB secured a significant engineering, procurement, construction, and installation contract for the Ginger project offshore Trinidad and Tobago. This project marks the first award under a global framework agreement between bp and the Subsea Integration Alliance partners. The collaboration aims to enhance system-level optimization and value creation. These developments reflect the company’s strategic focus on leveraging digital capabilities and optimizing production systems.

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