SLB

In 1919 the brothers Conrad and Marcel Schlumberger, with financing from their father, founded their first company. In 1926 they founded the Société de Prospection Électrique, the precursor of SLB.⁠[1]

In September 1927, the brothers lowered an electric sonde down a 1,600-ft (488-m) well in France’s Pechelbronn field, creating the first well log.⁠[2]

In 1935 the brothers established an affiliated company in the United States. After Conrad’s death, Marcel ran the company with a number of family members.⁠[1]

On August 27, 2010, Schlumberger acquired all outstanding shares of Smith International, Inc., issuing 176 million shares of common stock valued at approximately $9.8 billion. The registrant was then Schlumberger N.V., incorporated in Curaçao, with approximately 108,000 employees at the end of 2010.⁠[3]

On March 25, 2015, Schlumberger Limited resolved a U.S. Department of Justice investigation: a non-U.S. subsidiary agreed to plead guilty to one count of conspiracy to violate the International Emergency Economic Powers Act over past sanctions violations in Iran and Sudan. The company was to pay about $232.7 million.⁠[4]

On April 1, 2016, Schlumberger closed its merger with Cameron. Each Cameron share was exchanged for 0.716 Schlumberger shares and $14.44 in cash, and Schlumberger issued approximately 138 million shares. Paal Kibsgaard said, “I am very pleased to welcome Cameron employees, customers and shareholders to Schlumberger.”⁠[5]

On July 19, 2019, Schlumberger announced that Olivier Le Peuch would succeed Paal Kibsgaard as CEO effective August 1, 2019. Kibsgaard also stepped down as Chairman and left the Board, and Mark G. Papa became non-executive Chairman. Le Peuch had 32 years with the company.⁠[6]

In July 2023, in response to the continued expansion of international sanctions, SLB extended its 2022 restrictions worldwide and stopped shipping products and technology to Russia from all operations. Its work for Russian companies including Gazprom Neft and Rosneft involved 9,600 employees and 5% of its annual revenue of about $28 billion.⁠[7]

In October 2024, 52 U.S. lawmakers wrote to Treasury Secretary Janet Yellen and Secretary of State Antony Blinken urging tougher Russian oil sanctions and questioning SLB’s exception. SLB had signed new contracts, recruited hundreds of staff and imported nearly $18 million in equipment into Russia. Assistant Secretary of State Geoffrey Pyatt had said SLB “had not violated” sanctions.⁠[8]

In January 2025, the United States issued sanctions cutting off Russia’s access to U.S. services for crude oil extraction and production. SLB said its current Russia business still aligned with them. Russia accounted for 4% of its 2024 revenue, and SLB was one of the few Western firms to remain there after the 2022 invasion of Ukraine.⁠[9]

On October 24, 2022, Schlumberger announced its new name, SLB, unifying the legacy brand and nearly all affiliated brands and marking its shift from an oilfield services company to “a global technology company.”⁠[10]

After the rebranding, SLB’s Simplified Chinese website continued to use the company’s established Chinese name.⁠[11]

In 2025 SLB changed the legal name of its listed parent, now SLB N.V. (SLB Limited). Its fiscal 2025 annual report lists four divisions, Digital, Reservoir Performance, Well Construction and Production Systems, and about 109,000 people in more than 100 countries.⁠[12]

On July 16, 2025, SLB closed its previously announced acquisition of ChampionX Corporation. ChampionX shareholders received 0.735 SLB shares per share and came to own approximately 9% of SLB’s outstanding common stock. Le Peuch said the move “expands SLB’s presence in this important, less cyclical, and growing market.”⁠[13]

On January 23, 2026, SLB announced full-year 2025 revenue of $35.71 billion, down 2% year on year, and net income attributable to SLB of $3.374 billion (2024: $4.461 billion). The board raised the quarterly dividend 3.5% to $0.295 per share, and SLB committed to returning more than $4 billion to shareholders in 2026.⁠[14]

In October 2026, SLB announced third-quarter 2026 revenue of $9.45 billion, up 5% sequentially and 6% year on year, net income attributable to SLB of $735 million and GAAP diluted EPS of $0.49. Le Peuch said, “SLB delivered solid third-quarter results with all regions growing sequentially.”⁠[15]