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MarketScreener Homepage  >  Equities  >  Nyse  >  Schlumberger Limited    SLB   AN8068571086

SCHLUMBERGER LIMITED

(SLB)
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Schlumberger : Introduces StrataBlade Concave Diamond Element Bit

10/30/2020 | 07:46am EST

Smith Bits, a Schlumberger company, introduced today the StrataBlade* concave diamond element bit that improves the rate of penetration (ROP) in a wide range of rock types, while withstanding impact damage often associated with drilling interbedded formations.

'The StrataBlade bit is the latest addition to our three-dimensional cutting elements portfolio, which expands our holistic drilling solutions offering and enables operators to enhance overall drilling performance in challenging formations,' said Jesus Lamas, president, Well Construction, Schlumberger. 'With the introduction of this new technology operators can improve ROP, increase overall drilling efficiency and reduce well construction costs.'

The StrataBlade bit incorporates new geometry Strata* concave diamond elements across the bit face, which increases cutting efficiency and results in higher instantaneous ROP with the same operating parameters. In deep lateral wells where weight transfer to the bit is a challenge, the StrataBlade bit drills with higher ROP when compared with traditional PDC bits with flat cutters. Improved cutting efficiency also means a better torque response at the bit for conformance to directional plans.

The StrataBlade bit has undergone field testing in North America, specifically in the Haynesville Shale and the Appalachian Basin. In the East Texas Travis Peak and Cotton Valley formations, the StrataBlade bit enabled an operator to eliminate two bit runs while drilling to 10,000-ft measured depth with an average ROP increase of 28% compared to direct offset wells. In the Marcellus Formation in northeastern Pennsylvania, the StrataBlade bit drilled an 8 3/4-in section with a measured depth of 3,149 ft in under 12 drilling hours. The operator achieved an on-bottom ROP of 264 ft/h, resulting in a 15% improvement compared with average offset runs with other PDC bits.

For more information about the StrataBlade concave diamond element bit, introduced at the Schlumberger Online Conference, visit www.slb.com/StrataBlade.

About Schlumberger

Schlumberger is the world's leading provider of technology and digital solutions for reservoir characterization, drilling, production, and processing to the energy industry. With product sales and services in more than 120 countries and employing approximately 82,000 people as of the end of third quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably.

Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com.

*Mark of Schlumberger

For further information, contact:

Moira Duff

Corporate Communication Manager

Schlumberger Limited

Office: +1 (713) 375-3494

communication@slb.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 23 261 M - -
Net income 2020 -10 707 M - -
Net Debt 2020 13 761 M - -
P/E ratio 2020 -3,38x
Yield 2020 3,58%
Capitalization 36 137 M 36 137 M -
EV / Sales 2020 2,15x
EV / Sales 2021 2,27x
Nbr of Employees 105 000
Free-Float 96,9%
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 26,87 $
Last Close Price 25,96 $
Spread / Highest target 84,9%
Spread / Average Target 3,49%
Spread / Lowest Target -34,5%
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Managers and Directors
NameTitle
Olivier Le Peuch Chief Executive Officer & Director
Mark G. Papa Non-Executive Chairman
Stephane Biguet Chief Financial Officer & Executive Vice President
Demosthenis Pafitis Chief Technology Officer
Nikolay Kudryavtsev Independent Director
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