Latest news with #WellConstruction
Globe and Mail
03-07-2025
- Business
- Globe and Mail
Expro Enhances Rig Floor Safety With Innovative Catwalk Sensor Technology
Expro's (NYSE: XPRO) Frank's Tubular Running Services (TRS) division has successfully deployed its new Catwalk Sensor technology across its United States land operations, delivering a significant leap forward in safety for land-based drilling rigs. This press release features multimedia. View the full release here: Expro Catwalk Sensor Safety Innovation The Catwalk Sensor is designed to address a critical safety gap in manual rig environments. Installed on the rig's catwalk or slingshot system, the sensor emits real-time audible alerts whenever pipe enters the V-door area. This immediate warning system serves as a proactive risk reduction technology so that all personnel on the rig floor are instantly aware of potential hazards enabling swift, proactive responses. 'This is an effective and powerful solution,' said Jeremy Angelle, VP of Well Construction of Expro. 'Even on the most basic rig floors, the Catwalk Sensor helps create a safer environment by alerting crews to pipe movement before an incident can occur.' Expro's Catwalk Sensor is a standalone system that has been designed for easy installation and maintenance, which is intended for all rigs utilizing catwalk or slingshot type pipe handling systems. Jeremy Angelle added: 'This initiative reflects Expro's ongoing commitment to operational excellence and stakeholder value, and more importantly, to the safety of its crews and partners around the world.' Notes to Editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has approximately 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success, safety, efficiency and sustainability of the Company's tubular running services technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Ottawa Citizen
25-04-2025
- Business
- Ottawa Citizen
SLB Announces First-Quarter 2025 Results; Remains Committed to Return a Minimum of $4 Billion to Shareholders in 2025
Article content Revenue of $8.49 billion decreased 3% year on year GAAP EPS of $0.58 decreased 22% year on year EPS, excluding charges and credits, of $0.72 decreased 4% year on year Net income attributable to SLB of $797 million decreased 25% year on year Adjusted EBITDA of $2.02 billion decreased 2% year on year Cash flow from operations of $660 million increased $333 million year on year Board approved quarterly cash dividend of $0.285 per share Article content Article content HOUSTON — SLB (NYSE: SLB) today announced results for the first-quarter 2025. Article content Article content (Stated in millions) Three Months Ended Change Mar. 31, 2025 Dec. 31, 2024 Mar. 31, 2024 Sequential Year-on-year Revenue by Division Digital & Integration $1,006 $1,156 $953 -13% 6% Reservoir Performance 1,700 1,810 1,725 -6% -1% Well Construction 2,977 3,267 3,368 -9% -12% Production Systems 2,938 3,197 2,818 -8% 4% Other (131) (146) (157) n/m n/m $8,490 $9,284 $8,707 -9% -3% Pretax Operating Income by Division Digital & Integration $306 $442 $254 -31% 21% Reservoir Performance 282 370 339 -24% -17% Well Construction 589 681 690 -14% -15% Production Systems 475 506 400 -6% 19% Other (96) (81) (34) n/m n/m $1,556 $1,918 $1,649 -19% -6% Pretax Operating Margin by Division Digital & Integration 30.4% 38.3% 26.6% -784 bps 380 bps Reservoir Performance 16.6% 20.5% 19.7% -391 bps -311 bps Well Construction 19.8% 20.8% 20.5% -106 bps -71 bps Production Systems 16.2% 15.8% 14.2% 34 bps 197 bps Other n/m n/m n/m n/m n/m 18.3% 20.7% 18.9% -232 bps -60 bps *These are non-GAAP financial measures. See sections titled 'Charges & Credits', 'Divisions' and 'Supplementary Information' for details. n/m = not meaningful Article content 'First-quarter adjusted EBITDA margin was slightly up year on year despite softer revenue as we continued to navigate the evolving market dynamics,' said SLB Chief Executive Officer, Olivier Le Peuch. Article content Article content 'It was a subdued start to the year as revenue declined 3% year on year. Higher activity in parts of the Middle East, North Africa, Argentina and offshore U.S., along with strong growth in our data center infrastructure solutions and digital businesses in North America, were more than offset by a sharper-than-expected slowdown in Mexico, a slow start to the year in Saudi Arabia and offshore Africa, and steep decline in Russia. Article content 'The expansion of our accretive margin digital business and the strength of our Production Systems division, combined with our cost reduction initiatives, have driven another consecutive quarter of year-on-year adjusted EBITDA margin growth. Article content 'These results demonstrate SLB's resilience in changing market conditions. We are continuously exercising cost discipline and aligning our resources with activity levels, leveraging our global reach and industry-leading innovation capabilities, expanding our differentiated digital offerings, and strategically diversifying the portfolio beyond oil and gas,' Le Peuch said. Article content 'In the Core, we continue to see rising demand for production solutions as customers seek to offset declines and maintain or grow production from maturing assets. This is an area that will continue to present strong opportunities for SLB. As a result, Production Systems revenue grew 4% and expanded pretax operating margins by 197 bps year on year, with strong demand for surface production systems, completions, and artificial lift. In addition, Reservoir Performance was supported by strong international unconventional stimulation and intervention activity although it was offset by lower evaluation activity. Article content 'Overall, the combined revenue of the Core divisions was down 4% year on year, as growth in Production Systems was more than offset by declines in Reservoir Performance and Well Construction. Despite the year-on-year decline, our diversified portfolio and broad market position helped to offset lower rig activity,' Le Peuch said.
National Post
25-04-2025
- Business
- National Post
SLB Announces First-Quarter 2025 Results; Remains Committed to Return a Minimum of $4 Billion to Shareholders in 2025
Article content Revenue of $8.49 billion decreased 3% year on year GAAP EPS of $0.58 decreased 22% year on year EPS, excluding charges and credits, of $0.72 decreased 4% year on year Net income attributable to SLB of $797 million decreased 25% year on year Adjusted EBITDA of $2.02 billion decreased 2% year on year Cash flow from operations of $660 million increased $333 million year on year Board approved quarterly cash dividend of $0.285 per share Article content Article content HOUSTON — SLB (NYSE: SLB) today announced results for the first-quarter 2025. Article content Article content (Stated in millions) Three Months Ended Change Mar. 31, 2025 Dec. 31, 2024 Mar. 31, 2024 Sequential Year-on-year Revenue by Division Digital & Integration $1,006 $1,156 $953 -13% 6% Reservoir Performance 1,700 1,810 1,725 -6% -1% Well Construction 2,977 3,267 3,368 -9% -12% Production Systems 2,938 3,197 2,818 -8% 4% Other (131) (146) (157) n/m n/m $8,490 $9,284 $8,707 -9% -3% Pretax Operating Income by Division Digital & Integration $306 $442 $254 -31% 21% Reservoir Performance 282 370 339 -24% -17% Well Construction 589 681 690 -14% -15% Production Systems 475 506 400 -6% 19% Other (96) (81) (34) n/m n/m $1,556 $1,918 $1,649 -19% -6% Pretax Operating Margin by Division Digital & Integration 30.4% 38.3% 26.6% -784 bps 380 bps Reservoir Performance 16.6% 20.5% 19.7% -391 bps -311 bps Well Construction 19.8% 20.8% 20.5% -106 bps -71 bps Production Systems 16.2% 15.8% 14.2% 34 bps 197 bps Other n/m n/m n/m n/m n/m 18.3% 20.7% 18.9% -232 bps -60 bps *These are non-GAAP financial measures. See sections titled 'Charges & Credits', 'Divisions' and 'Supplementary Information' for details. n/m = not meaningful Article content 'First-quarter adjusted EBITDA margin was slightly up year on year despite softer revenue as we continued to navigate the evolving market dynamics,' said SLB Chief Executive Officer, Olivier Le Peuch. Article content 'It was a subdued start to the year as revenue declined 3% year on year. Higher activity in parts of the Middle East, North Africa, Argentina and offshore U.S., along with strong growth in our data center infrastructure solutions and digital businesses in North America, were more than offset by a sharper-than-expected slowdown in Mexico, a slow start to the year in Saudi Arabia and offshore Africa, and steep decline in Russia. Article content 'The expansion of our accretive margin digital business and the strength of our Production Systems division, combined with our cost reduction initiatives, have driven another consecutive quarter of year-on-year adjusted EBITDA margin growth. Article content 'These results demonstrate SLB's resilience in changing market conditions. We are continuously exercising cost discipline and aligning our resources with activity levels, leveraging our global reach and industry-leading innovation capabilities, expanding our differentiated digital offerings, and strategically diversifying the portfolio beyond oil and gas,' Le Peuch said. Article content 'In the Core, we continue to see rising demand for production solutions as customers seek to offset declines and maintain or grow production from maturing assets. This is an area that will continue to present strong opportunities for SLB. As a result, Production Systems revenue grew 4% and expanded pretax operating margins by 197 bps year on year, with strong demand for surface production systems, completions, and artificial lift. In addition, Reservoir Performance was supported by strong international unconventional stimulation and intervention activity although it was offset by lower evaluation activity. Article content 'Overall, the combined revenue of the Core divisions was down 4% year on year, as growth in Production Systems was more than offset by declines in Reservoir Performance and Well Construction. Despite the year-on-year decline, our diversified portfolio and broad market position helped to offset lower rig activity,' Le Peuch said.
