Latest news with #Schlumberger
Zawya
6 days ago
- Business
- Zawya
ADNOC Drilliing to take 70% stake in rigs JV with SLB
ADNOC Drilling Co. will acquire a 70% stake in a joint venture (JV) with SLB's land drilling rigs business in Kuwait and Oman, comprising eight fully operational land rigs under contract with the respective national oil companies of both countries. The formation of the JV and the acquisition of a 70% stake, is expected in Q1 2026 once regulatory approvals are secured. ADNOC Drilling did not disclose the value of the stake. The NYSE-listed SLB, formerly known as Schlumberger Limited, is a technology and services provider to the energy industry. Through this acquisition, ADNOC Drilling will gain immediate access to earnings, cashflow and returns through two operating land drilling rigs in Kuwait and six in Oman. ADNOC Drilling, which is listed on the ADX, expects to consolidate the newly acquired business in its financial reporting from 2026. (Writing by Brinda Darasha; editing by Seban Scaria)
Yahoo
7 days ago
- Business
- Yahoo
Schlumberger (SLB) Ascends But Remains Behind Market: Some Facts to Note
Schlumberger (SLB) closed the most recent trading day at $33.93, moving +0.8% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 2.05% for the day. At the same time, the Dow added 1.78%, and the tech-heavy Nasdaq gained 2.47%. Coming into today, shares of the world's largest oilfield services company had lost 1.29% in the past month. In that same time, the Oils-Energy sector gained 1.87%, while the S&P 500 gained 5.21%. The investment community will be closely monitoring the performance of Schlumberger in its forthcoming earnings report. The company is predicted to post an EPS of $0.77, indicating a 9.41% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $8.49 billion, reflecting a 7.08% fall from the equivalent quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.18 per share and a revenue of $35.98 billion, indicating changes of -6.74% and -0.84%, respectively, from the former year. Investors should also take note of any recent adjustments to analyst estimates for Schlumberger. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.5% lower within the past month. Schlumberger is currently a Zacks Rank #4 (Sell). Investors should also note Schlumberger's current valuation metrics, including its Forward P/E ratio of 10.59. This represents a discount compared to its industry's average Forward P/E of 14.47. One should further note that SLB currently holds a PEG ratio of 8.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 2.4. The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 31% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schlumberger Limited (SLB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
17-05-2025
- Business
- Irish Times
Riesling, muscadet, sherry: Time to give these unloved wines a second chance
This week some great unloved wines . They include once popular regions, countries and grape varieties that have fallen out of favour for a variety of reasons. Often it happens when the producers of a popular region meet increased demand with cheaper and inferior versions of the real thing. Not surprisingly sales drop and it can be difficult to rebuild a name. Muscadet, sherry, and German wine arguably fall into this category. Other wines have managed to seduce us back. Austria, once shunned by Irish wine drinkers following a scandal in the 1980s, is now back on our shelves, where it is joined by an ever-growing array of fantastic Beaujolais. Muscadet has always puzzled me. It is generally light, fresh and fruity, perfect for all those albariño and sauvignon blanc drinkers. The multiples offer decent inexpensive versions, and some of the independents have a few seriously good wines that offer great value. At one stage, Alsace was one of our go-to wine regions. Names such as Trimbach, Hugel and Schlumberger appeared in every restaurant wine list and wine shop. As with Muscadet, the style is generally very appealing; fresh, dry white wines without any oak influence. READ MORE Riesling in general, and German riesling in particular, is one of the world's great wines. Wines labelled Trocken are dry, those labelled Kabinett deliciously delicate, low alcohol and off-dry – perfect for sipping over the summer months. [ Two German wines that are a little bit more expensive, but certainly worth it Opens in new window ] I have come to accept that there will never be a real sherry revolution. It will remain an object of adoration to a small group of aficionados (I include myself) who are aware how great these wines are and what value they offer. Muscadet de Sèvre & Maine Sur Lie, Château de l'Auberdière 2023 Muscadet de Sèvre & Maine Sur Lie, Château de l'Auberdière 2023 12%, €9.20, €11.50 Light and fresh with mouth-watering orchard fruits, lemon zest and a lip-smacking dry finish. This would be perfect with mussels, oysters and other seafood. From Aldi Kuentz-Bas Mosaïk Riesling 2022 Kuentz-Bas Mosaïk Riesling 2022 12.5%, €21.95 An excellent racy refreshing dry riesling with vibrant citrus and minerals. Perfect with chicken, pork and fish dishes as well as summery salads. From O'Briens Wagner Stempel Riesling Trocken 2023 Wagner Stempel Riesling Trocken 2023 12%, €23 Floral, with succulent elegant ripe peach fruits, a touch of spice and a dry finish. This would go nicely with Asian seafood and chicken dishes. From BaRossa, D4; Baggot Street Wines; Martins, D3; Green Man, D6; Donnybrook Fair; Lilith, D7; Mortons, D6 Lustau Puerto Fino Sherry Lustau Puerto Fino Sherry 15%, €13-€14 per half-bottle Delightfully racy, tangy green apples, with almonds, green olives and a lovely saline note. It finishes dry and long. Heavenly with almonds, Iberico ham and fish tapas. From Mitchells, Glasthule, Hatch Street and Avoca stores; Prim's, Kinsale; Whelehan's, Loughlinstown; The Vintry, D6; Ardkeen, Waterford; Redmonds, D6; The Wine Centre, Kilkenny; Barnhill Stores, Dalkey; Bradleys, Cork
Yahoo
14-05-2025
- Business
- Yahoo
Halliburton, Schlumberger Brace for the Next Oil Slump
U.S. oilfield service majors had a good run after the pandemic lockdowns ended. Demand for oil rebounded strongly, drillers drilled more, and even the climate-focused energy policies of the Biden administration could not ruin that. Now, a price rout that has already prompted the E&P segment to issue warning after warning is putting the good run on an extended pause. All of the majors reported lower earnings for the first quarter—yet more evidence that the lower prices have started to cause some real financial pain in the oilfield services sector. As producers begin to revise their production growth plans for the year—which most of them did at the release of their first-quarter results—the effects of that revision will bite oilfield service providers. Baker Hughes posted a 27% drop in net profits for the first quarter, to $509 million, and warned about 'broader macro and trade policy uncertainty,' meaning tariffs and the oft-cited risk of a global slowdown as a result of these tariffs. But now OPEC+ is also pumping more—much more than it said it would—and this additional supply is making things even worse for producers. Schlumberger also had a word of warning at the release of its first-quarter figures, which featured a more modest net earnings decline of 4% from a year ago but a 22% decline from a quarter earlier. Schlumberger's CEO said, 'The industry may experience a potential shift of priorities driven by changes in the global economy, fluctuating commodity prices and evolving tariffs — all of which could impact upstream oil and gas investment and, in turn, affect demand for our products and services.'Halliburton sounded the same alarm when it reported first-quarter performance, especially worried about the possibility that tariffs would lead to a surge in the price of oilfield services equipment—something that producers also worried about earlier this year when President Trump launched his trade policy offensive. Yet it seems the primary concern of the oilfield services sector is the price of crude. 'With oil prices falling out of the well-defined range that had persisted for much of the past 2+ years, producer budgets are encountering meaningful strain for the first time in several years,' analysts from Raymond James said, as quoted by Reuters recently. Indeed, while there is a debate about the severity of price decline that U.S. shale drillers could endure without shrinking activity, Dallas Fed survey data and Baker Hughes' weekly rig count reports suggest that West Texas Intermediate below $65 begins to affect activity and the lower it goes, the more severe the impact on drillers, and, by extension, oilfield service providers. Already some energy companies active in the shale patch are cutting their drilling budgets for the year. Diamondback Energy and Coterra Energy are among them, while the CEO of Formentera Partners, Bryan Sheffield, told Bloomberg last month that 'The industry needs to cut immediately and hunker down to let the tariff war play out,' describing the current situation in the industry as a 'bloodbath'. The situation looks worse at home for the oilfield services majors because of shale oil's relatively high production costs, but it appears that global operations will also see some pain from the tariff war while it lasts. Schlumberger expects a decline in global oil investment, and Baker Hughes and Halliburton expect a direct impact on their share prices and earnings from the fallout from the tariff war. On the flip side, cheap oil stimulates demand for the commodity, which would ultimately lead to higher prices as history tells us—and it would mitigate the impact of the tariffs. 'Unless you export the stuff, cheaper oil should bring some tailwinds for the global economy,' ING's Global Head of Macro, Carsten Brzeski, wrote in a recent note. 'It probably won't be enough to fully offset the tariff-driven inflation surge in the US, but it could help compensate for the adverse effect on eurozone growth and will definitely add to the current disinflationary trend.' So, it seems Bryan Sheffield was right when he advised the industry to 'hunker down' and let the turbulent times play out. This is what drillers have been doing every few years as the cyclical nature of the industry manifests itself in yet another price rout. Indeed, there were warnings that the trough of the cycle was coming even before Trump began tariffing imports left and right. In January, Rystad Energy said the oilfield services sector was slowing down, and the slowdown would intensify this year. 'Market volatility, heightened geopolitical tensions and cost and capacity challenges,' were the issues Rystad Energy identified for the sector back in January, which suggests that even without a tariff war, oilfield services providers would be having a tough 2025. Yet it's not all doom and gloom—LNG is thriving, and offshore oil and gas is set to grow, too. The industry will weather this period of depression just as it weathered all the others that came before it. By Irina Slav for More Top Reads From this article on
Yahoo
13-05-2025
- Business
- Yahoo
Halliburton, Schlumberger Brace for the Next Oil Slump
U.S. oilfield service majors had a good run after the pandemic lockdowns ended. Demand for oil rebounded strongly, drillers drilled more, and even the climate-focused energy policies of the Biden administration could not ruin that. Now, a price rout that has already prompted the E&P segment to issue warning after warning is putting the good run on an extended pause. All of the majors reported lower earnings for the first quarter—yet more evidence that the lower prices have started to cause some real financial pain in the oilfield services sector. As producers begin to revise their production growth plans for the year—which most of them did at the release of their first-quarter results—the effects of that revision will bite oilfield service providers. Baker Hughes posted a 27% drop in net profits for the first quarter, to $509 million, and warned about 'broader macro and trade policy uncertainty,' meaning tariffs and the oft-cited risk of a global slowdown as a result of these tariffs. But now OPEC+ is also pumping more—much more than it said it would—and this additional supply is making things even worse for producers. Schlumberger also had a word of warning at the release of its first-quarter figures, which featured a more modest net earnings decline of 4% from a year ago but a 22% decline from a quarter earlier. Schlumberger's CEO said, 'The industry may experience a potential shift of priorities driven by changes in the global economy, fluctuating commodity prices and evolving tariffs — all of which could impact upstream oil and gas investment and, in turn, affect demand for our products and services.'Halliburton sounded the same alarm when it reported first-quarter performance, especially worried about the possibility that tariffs would lead to a surge in the price of oilfield services equipment—something that producers also worried about earlier this year when President Trump launched his trade policy offensive. Yet it seems the primary concern of the oilfield services sector is the price of crude. 'With oil prices falling out of the well-defined range that had persisted for much of the past 2+ years, producer budgets are encountering meaningful strain for the first time in several years,' analysts from Raymond James said, as quoted by Reuters recently. Indeed, while there is a debate about the severity of price decline that U.S. shale drillers could endure without shrinking activity, Dallas Fed survey data and Baker Hughes' weekly rig count reports suggest that West Texas Intermediate below $65 begins to affect activity and the lower it goes, the more severe the impact on drillers, and, by extension, oilfield service providers. Already some energy companies active in the shale patch are cutting their drilling budgets for the year. Diamondback Energy and Coterra Energy are among them, while the CEO of Formentera Partners, Bryan Sheffield, told Bloomberg last month that 'The industry needs to cut immediately and hunker down to let the tariff war play out,' describing the current situation in the industry as a 'bloodbath'. The situation looks worse at home for the oilfield services majors because of shale oil's relatively high production costs, but it appears that global operations will also see some pain from the tariff war while it lasts. Schlumberger expects a decline in global oil investment, and Baker Hughes and Halliburton expect a direct impact on their share prices and earnings from the fallout from the tariff war. On the flip side, cheap oil stimulates demand for the commodity, which would ultimately lead to higher prices as history tells us—and it would mitigate the impact of the tariffs. 'Unless you export the stuff, cheaper oil should bring some tailwinds for the global economy,' ING's Global Head of Macro, Carsten Brzeski, wrote in a recent note. 'It probably won't be enough to fully offset the tariff-driven inflation surge in the US, but it could help compensate for the adverse effect on eurozone growth and will definitely add to the current disinflationary trend.' So, it seems Bryan Sheffield was right when he advised the industry to 'hunker down' and let the turbulent times play out. This is what drillers have been doing every few years as the cyclical nature of the industry manifests itself in yet another price rout. Indeed, there were warnings that the trough of the cycle was coming even before Trump began tariffing imports left and right. In January, Rystad Energy said the oilfield services sector was slowing down, and the slowdown would intensify this year. 'Market volatility, heightened geopolitical tensions and cost and capacity challenges,' were the issues Rystad Energy identified for the sector back in January, which suggests that even without a tariff war, oilfield services providers would be having a tough 2025. Yet it's not all doom and gloom—LNG is thriving, and offshore oil and gas is set to grow, too. The industry will weather this period of depression just as it weathered all the others that came before it. By Irina Slav for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
