SLB to Sell Interests in Alberta's Palliser Block by Late 2024

SLB, a leading global energy technology company, has announced a definitive agreement to sell its interests in the Palliser Block, located in Alberta, Canada. The Palliser Block includes oil and gas wells, surface facilities, a pipeline network, and specific oil and gas development rights. This transaction, pending regulatory approval and other standard closing conditions, is anticipated to conclude by the end of the fourth quarter of 2024.

SLB is renowned for its role in energy innovation, operating across more than 100 countries. The company focuses on advancing oil and gas technologies, digital solutions, decarbonization, and developing new energy systems to support the energy transition.

This agreement marks a significant strategic move for SLB as it continues to align its operations with global energy transition goals. The sale is expected to streamline SLB's portfolio, potentially enhancing its focus on new energy systems and decarbonization efforts.