SLB, ADNOC Drilling, Patterson-UTI Join Forces To Accelerate UAE's Unconventional Oil Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 01 2024
0mins
Should l Buy SLB?
Source: Benzinga
Joint Venture Formation: Schlumberger, ADNOC Drilling, and Patterson-UTI have formed a joint venture named Turnwell Industries LLC OPC to enhance the UAE's unconventional oil and gas program, aiming to complete 144 wells by 2025.
Technological Innovations: The partnership will leverage advanced technologies in AI, smart drilling, and completions engineering, with ADNOC Drilling holding a majority stake of 55% in the JV.
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Analyst Views on SLB
Wall Street analysts forecast SLB stock price to fall
16 Analyst Rating
16 Buy
0 Hold
0 Sell
Strong Buy
Current: 50.030
Low
43.00
Averages
48.71
High
55.00
Current: 50.030
Low
43.00
Averages
48.71
High
55.00
About SLB
SLB N.V. is a global technology company. The Company’s segments include Digital, Reservoir Performance, Well Construction, Production Systems, and All Other. Digital segment includes products, services, and solutions that span the energy value chain from subsurface characterization through field development and hydrocarbon production to carbon management and the integration of adjacent energy systems. Reservoir Performance segment consists of reservoir-centric technologies and services that are critical to optimizing reservoir productivity and performance. Well Construction segment provides operators and drilling rig manufacturers with services and products related to the design and construction of a well. Production Systems segment develops technologies and provides expertise that enhances production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries. All Other segment includes asset performance solutions, data center solutions and SLB Capturi.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Opportunity: The global subsurface exploration and production technology market exceeds $150 billion annually, and VisionWave's research aims to introduce next-generation sensing capabilities to address the long-standing lack of innovation in this sector, potentially providing substantial market opportunities for the company.
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See More
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- Market Opportunity Identification: The global subsurface exploration and production technology market exceeds $150 billion annually, and VisionWave's research aims to introduce next-generation sensing and computational capabilities targeting this structurally underinnovated sector, potentially providing significant competitive advantages.
- Future Development Outlook: Although the technology is still in the research and evaluation stage, CEO Doug Davis emphasizes that this direction represents a meaningful long-term opportunity to enhance understanding of subsurface environments, highlighting the strategic importance of the company's engagement with the National Oil Company of Liberia.
See More
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- Press Release Timing: A press release detailing the results will be issued at 7:00 a.m. US Eastern time, aimed at providing timely information to investors and enhancing their understanding of the company's financial performance.
- Participation Details: Investors can access the call by dialing +1 (833) 470-1428 within North America or +1 (404) 975-4839 internationally, with a recommendation to call 10 minutes prior to the start, demonstrating the company's consideration for investor accessibility.
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See More
