HOUSTON--(뉴스와이어)--SLB (NYSE: SLB) today announced results for the third-quarter 2025.

Third-Quarter Results

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Resilience Amidst Evolving Market Dynamics

“The third quarter played out in line with our expectations as our revenue increased sequentially supported by two months’ additional ChampionX revenue, further growth in Digital and the resilient performance of our Core business. SLB improved revenue despite the backdrop of a fully supplied oil market, an uncertain geopolitical environment and subdued commodity prices.

“In this context, international markets — while facing challenges in some regions — are demonstrating resilience, with several countries across the Middle East and Asia continuing to show robust growth. Looking ahead, we expect OPEC+ production releases to support investment across many countries where SLB is well established,” said SLB Chief Executive Officer Olivier Le Peuch.

Production and Recovery Business Aligned to Enable Customers’ Changing Priorities

“As industry economics tighten, customers are increasingly prioritizing production and recovery solutions to offset decline by unlocking incremental barrels at the lowest possible cost. At the same time, they continue to accelerate the most critical FIDs and execute in-flight development projects.

“SLB has a differentiated opportunity to support customers on this journey — leveraging our subsurface expertise, production technology, portfolio integration and digital/AI capabilities — to unlock new value for mature assets and consequently expand our addressable market.

“ChampionX enhances our portfolio and underscores the value of expanding our presence in the less cyclical production market.

“I am confident in the position we are taking in the production and recovery market, and I look forward to deepening our collaboration with our customers to unlock more barrels. I am also excited by the progress we have made integrating the ChampionX team into SLB, and I am thankful for their performance and contribution this quarter,” said Le Peuch.

Digital Delivering Differentiated Growth and Margins

“Digital continues to transform the oil and gas industry, and this has been our fastest-growing business in recent years. We have been on a long journey to digitize the oilfield — from modeling and planning to operations and automation — recognizing that digital transformation is essential for unlocking the highest levels of efficiency, safety and sustainability in prospect selection, reservoir management and hydrocarbon recovery.

“By leveraging software, AI, data analytics, automation and IoT, we are unlocking productivity for geoscientists and engineers, driving a step change in efficiency and safety in operations, and supporting our customers to deliver better wells and higher-producing assets. As such, SLB Digital solutions are increasingly mission critical for our customers to stay ahead on innovation, efficiency and AI deployment.

“We are reporting Digital as a standalone division for the first time and are sharing details of the four revenue categories where SLB offers solutions for our customers: Platforms & Applications, Digital Operations, Digital Exploration and Professional Services.

“Our Digital business delivered revenue growth both sequentially and year on year. This high-margin and growing business is a true differentiator and reflects our industry leadership in this domain,” Le Peuch said.

International Markets to Lead Future Activity Rebound

“Looking ahead, it is more likely that the international markets will lead an activity rebound when supply and demand rebalance, supported by sustained investment for oil capacity, gas expansion projects and a constructive outlook for deepwater. SLB is well positioned to benefit from such a recovery.

“In the near term, we foresee revenue growth in the fourth quarter driven by the international markets, Digital and a full quarter of activity from the acquired ChampionX businesses,” Le Peuch concluded.

Other Events

During the quarter, SLB repurchased 3.2 million shares of its common stock for a total purchase price of $114 million. For the first nine-months of 2025, SLB repurchased a total of 60.0 million shares of its common stock for a total purchase price of $2.41 billion.

On July 16, 2025, SLB completed its acquisition of ChampionX. The combined portfolio, technology capabilities and digital leadership will position SLB to create value for its customers and stakeholders by increasing its exposure to the growing production and recovery market while delivering best-in-class workflow integration across production chemicals and artificial lift.

On October 16, 2025, SLB’s Board of Directors approved a quarterly cash dividend of $0.285 per share of outstanding common stock, payable on January 8, 2026, to stockholders of record on December 3, 2025.

Third-Quarter Revenue by Geographical Area

Third-quarter revenue of $8.93 billion increased 4% sequentially with international revenue increasing 1% and North America revenue increasing 17%. This reflects two months of activity from the acquired ChampionX businesses, which contributed revenue of $579 million, consisting of $387 million in North America and $171 million in the international markets. Excluding the impact of this acquisition, international third-quarter 2025 revenue declined 1% and North America third-quarter 2025 revenue declined 7% sequentially. International revenue slightly decreased due to the production interruption on the APS project in Ecuador and North America revenue declined due to the divestiture of the APS project in Canada.

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2024.

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

International

Pro forma revenue in Latin America of $1.51 billion decreased 4% sequentially. Higher offshore drilling activity in Guyana was more than offset by reduced APS revenue due to production interruption arising from a pipeline disruption in Ecuador and lower drilling and fracturing activity in Argentina.

Year on year, pro forma revenue declined 14%, primarily due to a significant reduction in land drilling activity in Mexico and reduced APS revenue in Ecuador.

Europe & Africa pro forma revenue of $2.46 billion was flat sequentially with improved activity in Sub-Saharan Africa and offshore Scandinavia being offset by lower activity in Europe and North Africa.

Year on year, pro forma revenue declined 3% as strong activity in North Africa, Europe and Azerbaijan was more than offset by reduced deepwater activity in offshore Angola, Central & East Africa.

Pro forma revenue in the Middle East & Asia of $3.03 billion decreased 1% sequentially as robust activity in Iraq, Oman, United Arab Emirates, Egypt, India, East Asia, Indonesia, China and Australia was more than offset by activity declines in Saudi Arabia.

Year on year, pro forma revenue declined 11% as higher revenue in the United Arab Emirates, Iraq, Kuwait, Oman and China was more than offset by significantly reduced activity in Saudi Arabia. Declines were also noted in Australia and East Asia.

North America

North America pro forma revenue of $2.13 billion decreased 4% sequentially. The decline stemmed from the absence of APS revenue of $97 million following the divestiture of the interest in the Palliser project in Canada, coupled with lower activity in U.S. land due to reduced rig count. These declines were partially offset by higher digital exploration offshore and increased revenue from data center solutions.

Year on year, pro forma revenue declined 5%, driven by the divestiture of the APS project in Canada, coupled with a sharp decline in U.S. land drilling activity, partially offset by growth in data center solutions.

Third-Quarter Results by Division

Digital

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Digital revenue of $658 million increased 11% sequentially driven by a robust increase in Digital Operations revenue which reflects the impact of ChampionX as well as organic growth, a strong increase in Digital Exploration revenue, and higher revenue in Platforms & Applications.

Year on year, Digital revenue increased 3% driven by strong growth in Digital Operations revenue, reflecting both organic growth and the impact of ChampionX as well as higher revenue in Platforms & Applications, partially offset by a decline in Digital Exploration revenue.

Annual recurring revenue (ARR) for the Digital Division as of September 30, 2025, was $926 million compared to $869 million for the same period last year.

Digital pretax operating margin of 28% expanded 250 basis points (bps) sequentially. Profitability improved due to strong Digital Exploration activity, robust revenue growth from Digital Operations and higher Platforms & Applications revenue.

Year on year, pretax operating margin contracted 135 bps due to substantially lower Digital Exploration revenue, partially mitigated by improved profitability in Digital Operations and Platforms & Applications.

Please refer to the section “Supplementary Information” (Question 11) for description of the revenue categories comprising the Digital Division. Please refer to Question 12 for the revenue, pretax operating income and adjusted EBITDA of the Digital Division for the first nine months of 2025 and first nine months of 2024. For the definition of ARR, please refer to Question 13.

Reservoir Performance

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Reservoir Performance revenue of $1.68 billion declined 1% sequentially as higher activity in Europe & Africa was more than offset by lower revenue in the Middle East & Asia, mainly due to lower intervention and stimulation activity in Saudi Arabia.

Year on year, revenue dropped 8%, primarily due to lower activity in Saudi Arabia and Mexico. These decreases were partially mitigated by robust activity in Argentina, United Arab Emirates, Kuwait and Qatar.

Reservoir Performance pretax operating margin of 19% was essentially flat sequentially and contracted 159 bps year on year due to lower profitability in evaluation and intervention.

Well Construction

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Well Construction revenue of $2.97 billion was flat sequentially. Higher revenue in offshore Guyana and North America, coupled with higher land activity in Iraq, Oman and Asia, were offset by declines in drilling activity in Saudi Arabia, Argentina, Qatar and United Arab Emirates.

Year on year, revenue fell 10%, driven by a broad reduction in drilling activity across Mexico, Saudi Arabia, Namibia, North America and Asia. These decreases were partially offset by stronger performance in the United Arab Emirates, Guyana, North Africa, Iraq and Kuwait.

Well Construction pretax operating margin of 19% was up 22 bps sequentially but declined 273 bps year on year. Margin compression year on year stemmed from the widespread activity reductions in North America and several international markets.

Production Systems

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Production Systems as-reported revenue of $3.47 billion increased 18% sequentially and 14% year on year, reflecting two months of activity from the acquired ChampionX production chemicals and artificial lift businesses, which contributed $575 million of revenue and pretax operating income of $106 million. Excluding the impact of this acquisition, Production Systems third-quarter 2025 revenue decreased 1% sequentially and 5% year on year.

Production Systems pretax operating margin of 16% contracted 66 bps sequentially and 98 bps year on year. The sequential margin contraction was primarily driven by an unfavorable geographical mix in completions and lower subsea margins. The year-on-year decline was driven by an unfavorable geographic mix primarily impacting surface production systems and completions. These declines were partially offset by the accretive margin contribution from ChampionX.

The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2024.

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Production Systems pro forma revenue of $3.77 billion was flat sequentially. Increased sales of valves and production chemicals was offset by lower sales of completions.

Year on year, pro forma revenue declined 3% due to decreased sales of subsea production systems, completions and surface production systems, partially offset by higher sales of artificial lift and production chemicals.

All Other

Commencing in the third quarter of 2025, SLB began reporting its APS, Data Center Solutions and SLB Capturi in the All Other category. Prior periods have been recast to conform to the current period presentation.

Revenue of $397 million declined 32% sequentially and 28% year on year due to lower APS revenue following the divestiture of the interest in the Palliser asset in Canada, and the full month of production interruption arising from the pipeline disruption in Ecuador. These revenue declines were partially offset by higher Data Center Solutions revenue, which grew 26% sequentially and 98% year on year.

Pretax operating income of $96 million declined both sequentially and year on year due to lower APS revenue following the divestiture of the APS project in Canada and the production interruption in Ecuador.

Quarterly Highlights

CORE

Contract Awards

SLB continues to win new contract awards that align with SLB’s strengths in the Core. Notable highlights include the following:

· Offshore Brazil, SLB was awarded a major contract by Petrobras to provide services and technology for up to 35 ultra-deepwater wells in the strategically important Santos Basin. As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.

· Offshore Norway, SLB OneSubsea™ was awarded an engineering, procurement and construction (EPC) contract by Equinor for a 12-well, all-electric subsea production system in the Fram Sør field. The award follows a collaborative, year-long front-end engineering design phase, where Equinor and SLB OneSubsea jointly matured the project, culminating in the development plan and FID. As part of the resulting EPC scope, SLB OneSubsea will deliver four subsea templates and 12 all-electric subsea trees, eliminating the need for hydraulic fluid supplied by the host platform and keeping topside modifications to a minimum.

· In Uzbekistan, Yangi Kon, the project office under the Reconstruction and Development Fund, awarded SLB a contract for integrated well construction. The scope includes drilling the country’s deepest high-pressure, high-temperature well, targeting a total depth of 7,500 meters in the fourth quarter of 2025. SLB will provide the rig and deliver key services, including directional drilling, logging while drilling, wireline and testing, cementing, drilling and completions fluids, and wellheads. The project also covers all necessary infrastructure, such as access roads and water wells.

· In Colombia, SLB, through the recently acquired ChampionX, was awarded a six-year contract by Ecopetrol to deploy Oil Lift™ technology. Under this agreement, SLB will be the first call provider for progressing cavity pumps, driveheads and rod locks. This award reflects the superior quality and reliability of SLB artificial lift solutions, which were key factors in earning Ecopetrol’s confidence. This contract strengthens SLB’s regional position with a key operator and opens pathways to deploy additional technologies to support Ecopetrol’s long-term production goals.

· In India, SLB, through the recently acquired ChampionX, received a purchase order from Essar to supply 100 Oil Lift progressing cavity pumps. This order demonstrates SLB’s ability to deliver reliable, high-quality artificial lift solutions that meet both technical requirements and commercial expectations.

Technology and Innovation

Notable technology introductions and deployments in the quarter include the following:

· SLB announced a definitive agreement to acquire RESMAN Energy Technology, a global leader in wireless reservoir surveillance solutions. RESMAN’s advanced chemical tracers provide unmatched precision and accuracy in tracking water, gas, oil and CO2 movement within reservoirs and wells, delivering critical insights to optimize production and recovery. RESMAN’s cutting-edge tracer technology enables operators to monitor reservoir flow without disruption, offering unparalleled accuracy at parts per trillion detection levels. These insights are vital for well performance and reservoir monitoring across oil and gas, CO2 storage and geothermal applications, helping operators enhance production and improve recovery.

· SLB introduced the OnWave™ autonomous logging platform that enables more efficient and reliable acquisition of formation evaluation measurements in any well condition. This first-of-its-kind technology autonomously acquires multiple, high-fidelity measurements downhole, without the need of a wireline unit and wireline cable. The OnWave platform’s cable-free design takes less than half the time to deploy compared with conventional wireline platforms, while enabling drillpipe rotation and mud circulation during logging operations, to enhance well safety and minimize stuck pipe events.

· In Norway, an SLB OneSubsea subsea compressor system recently came online at Shell’s Ormen Lange field, the second largest gas field in Norway. This OneSubsea compressor system will help Shell, the operator for the Ormen Lange field, unlock 30-50 billion cubic meters of additional gas reserves for export to Europe. The Ormen Lange Phase 3 project sets a record for the deepest installation of a subsea compression system in water depths more than 900 meters below sea level. The gas will be delivered to the Nyhamna gas plant 120 kilometers away — setting another record as the longest subsea step-out.

· In Oman, SLB and Petroleum Development Oman (PDO) enhanced production from its longest horizontal well in a tight clastic formation using an integrated stimulation solution. Precise wireline ThruBit Dipole™ acoustic service deployment and data acquisition was achieved with an angled hole finder and tool taxi, logging the target reservoir sections to deliver critical stress and geomechanical data. Now™ accelerated answer products, with Acoustics Now, enabled near real-time interpretation to optimize fracturing stage design. Eight engineered stages, including BroadBand Sequence™ fracturing service in the final three, achieved 100% placement and completed the well 26.5 days ahead of plan. Eliminating contingency cleanouts and repeated fracturing jobs saved an estimated 50 metric tons of CO2e and 4,500 barrels of water. PDO plans to replicate this success in future wells.

· Also in Oman, bp and SLB deployed Hiway Flex™ customizable flow-channel fracturing technology across multiple formations in the Block-61 gas field. Designed for challenging environments prone to screenout, the fracturing technology improved proppant placement efficiency, eliminating the need for standby coiled tubing units. The deployment enabled a measurable reduction in well intervention costs and increased operational reliability. Early flowback and production data indicate enhanced reservoir contact and fracture conductivity, with treated wells delivering more than 50% higher gas output compared with offset wells using conventional methods.

· Offshore Guyana, SLB and ExxonMobil Guyana Limited (EMGL) executed the first deployment of the Ora™ probe for focused sampling in July. The Ora platform captured uncontaminated samples in complex environments, which reduced cleanup time from an average of three hours to under one hour, saving rig time and mitigating sticking risks. EMGL also deployed PressureXpress™ reservoir pressure-while-logging service and the SLB intelligent pretesting digital solution, which leveraged AI-driven automation to improve pressure acquisition by 50%. The combined solutions saved more than 10 hours of rig time, demonstrating these solutions as valuable options for formation sampling workflows in the region.

DIGITAL

SLB is deploying digital technology at scale, partnering with customers to migrate their technology and workflows into the cloud, to embrace new AI-enabled capabilities, and to leverage insights to elevate their performance. Notable highlights include the following:

· In Abu Dhabi, SLB and AIQ will closely collaborate to advance AIQ’s continued development and deployment of its ENERGYai agentic AI solution across ADNOC’s subsurface operations. ENERGYai combines large language model (LLM) technology with cutting-edge agentic AI, which is trained for specific workflows across ADNOC’s upstream value chain. AIQ and SLB will jointly design and deploy new agentic AI workflows across ADNOC’s subsurface operations, including for geology, seismic explorations and reservoir modeling, supported by SLB’s Lumi™ data and AI platform and other digital technologies.

· SLB and SBM Offshore, a global leader in Floating Production Storage and Offloading (FPSO) solutions, announced an agreement to enter into an exclusive digital alliance to optimize the performance of offshore production systems. The alliance brings together SLB’s digital and domain expertise in subsurface, subsea, and surface production and recovery with SBM Offshore’s digital and FPSO life cycle capabilities. The companies will leverage their respective digital capabilities to create an AI-powered digital ecosystem that enhances FPSO digital asset management — improving uptime performance and reducing total cost of ownership for offshore operators. The digital ecosystem will integrate SBM Offshore’s operational workflows, data and life cycle expertise with SLB’s digital technologies, including its OptiSite™ solutions which are enabled by Cognite Data Fusion, as part of SLB’s Lumi data and AI platform.

· SLB acquired Stimline Digital AS, a leading cloud-based software company for the energy sector specializing in well intervention. Stimline Digital’s IDEX™ platform provides operators with a powerful visualization canvas and collaborative environment to optimize the planning and execution of well intervention operations. Integrating the IDEX platform into SLB's data environment will provide advanced intervention applications for planning and modeling which gives operators the ability to create intelligent, data-driven workflows — enabling greater consistency, efficiency and performance for well interventions.

· Offshore Angola, SLB and TotalEnergies Angola deployed its first autonomous drilling system from a Block 17/06 deepwater rig, resulting in increased drilling speed, fewer downlinks and 32 hours of potential rig savings over two drilling sections. The system integrated DrillPlan™ and DrillOps™ solutions, Neuro™ autonomous directional drilling and Presspro RT™ software into a continuous feedback loop — automatically recommending drilling parameters as conditions changed. The system improved trajectory control and optimized tripping, hole cleaning and torque and drag follow-up. With faster, more informed decisions and seamless remote collaboration, this operation set a new benchmark for drilling efficiency and performance.

· In Norway, SLB was awarded a contract by the government-owned Petoro for generative AI to better optimize drilling resources by combining near-term and longer-term field development plans. Delivered through SLB’s Innovation Factori™ AI collaboration workspace, the solution leverages a combination of the FDPlan™ agile field development planning solution and domain AI models on the Lumi data and AI platform. By automating extraction from structured and unstructured data, this integrated approach enhances decision making and improves overall field performance.

· In Indonesia, SLB was awarded a contract by MedcoEnergi to implement advanced AI, generative AI and machine learning capabilities through the Lumi data and AI platform. This open platform integrates technology from SLB and third parties to enable data-driven insights, automate routine workflows and identify emerging trends within complex datasets. Using the Lumi platform, including data science technologies from Dataiku, MedcoEnergi is positioned to foster innovation, enhance operational agility and increase its competitive edge in the long term.

· In Kuwait, SLB was awarded a five-year master service agreement by Kuwait Oil Company (KOC) for consultancy services in exploration and development. SLB will deploy advanced digital solutions — including generative AI for production optimization and reservoir performance — to accelerate decision making, enhance operational efficiency and support KOC’s strategic vision for a digitally integrated future.

· In the Netherlands, SLB and Energie Beheer Nederland (EBN) signed a three-year contract to use the Lumi data and AI platform. The Lumi platform transforms how energy companies leverage data to deliver trusted intelligence and actionable insights that drive increased efficiency and performance. EBN is dedicated to ensuring a sustainable, reliable and affordable energy supply for the Netherlands, which digital technology such as the Lumi platform helps deliver by driving innovation and efficiency.

· In the United States, SLB entered a partnership with a Houston-based global independent energy company to deploy OptiSite facility, equipment and pipeline solutions. The AI and digital twin driven solutions offer unprecedented visibility into production operations, providing automated, data-driven insights tailored to user roles and responsibilities. OptiSite solutions are enabled by the SLB Operations Data Foundation and powered by Cognite Data Fusion. The initiative will bring immediate improvements in the customer’s facility uptime and safety, while paving the way for integrated AI, cloud and edge technologies to enhance pipeline throughput performance via autonomous operations.

NEW ENERGY

SLB continues to participate in the global transition to low-carbon energy systems through innovative technology and strategic partnerships, including the following:

· In the North Sea, SLB was awarded a technologies and services contract for carbon storage site development by the Northern Endurance Partnership, an incorporated joint venture between bp, Equinor and TotalEnergies. SLB will deploy its Sequestri™ carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells. The project scope includes drilling, measurement, cementing, fluids, completions, wireline and pumping services.

FINANCIAL TABLES

Condensed Consolidated Statement of Income

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Condensed Consolidated Balance Sheet

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Liquidity

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Charges & Credits

In addition to financial results determined in accordance with US generally accepted accounting principles (GAAP), this third-quarter 2025 earnings release also includes non-GAAP financial measures (as defined under the SEC’s Regulation G). In addition to the non-GAAP financial measures discussed under “Liquidity”, SLB net income, excluding charges & credits, as well as measures derived from it (including diluted EPS, excluding charges & credits; effective tax rate, excluding charges & credits; adjusted EBITDA and adjusted EBITDA margin) are non-GAAP financial measures. Management believes that the exclusion of charges & credits from these financial measures provide useful perspective on SLB’s underlying business results and operating trends, and a means to evaluate SLB’s operations period over period. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of certain of these non-GAAP measures to the comparable GAAP measures. For a reconciliation of adjusted EBITDA to the comparable GAAP measure, please refer to the section titled “Supplementary Information” (Question 9).

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

Divisions

Supplementary Information

Frequently Asked Questions

To view the table, please visit https://www.businesswire.com/news/home/20251015948706/en/

About SLB

SLB (NYSE: SLB) is a global technology company driving energy innovation for a balanced planet. With a global presence in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Conference Call Information

SLB will hold a conference call to discuss the earnings press release and business outlook on Friday, October 17, 2025. The call is scheduled to begin at 9:30 a.m. U.S. Eastern time. To access the call, which is open to the public, please contact the conference call operator at +1 (833) 470-1428 within North America, or +1 (646) 844-6383 outside of North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 188290. At the conclusion of the conference call, an audio replay will be available until October 24, 2025, by dialling +1 (866) 813-9403 within North America, or +1 (929) 458-6194 outside of North America, and providing the access code 405384. The conference call will be webcasted simultaneously at https://events.q4inc.com/attendee/686550547 on a listen-only basis. A replay of the webcast will also be available at the same website until October 24, 2025.

Forward-Looking Statements

This third-quarter 2025 earnings press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “outlook,” “expectations,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “scheduled,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and performance targets and other forecasts or expectations regarding, or dependent on, our business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); the benefits of the ChampionX acquisition, including the ability of SLB to integrate the ChampionX business successfully and to achieve anticipated synergies and value creation from the acquisition; oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; capital expenditures by SLB and the oil and gas industry; our business strategies, including digital and “fit for basin,” as well as the strategies of our customers; our capital allocation plans, including dividend plans and share repurchase programs; our APS projects, joint ventures, and other alliances; the impact of the ongoing or escalating conflicts on global energy supply; access to raw materials; future global economic and geopolitical conditions; future liquidity, including free cash flow; and future results of operations, such as margin levels. These statements are subject to risks and uncertainties, including, but not limited to, changing global economic and geopolitical conditions; changes in exploration and production spending by our customers, and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of our customers and suppliers; the inability to achieve our financial and performance targets and other forecasts and expectations; the inability to achieve our net-zero carbon emissions goals or interim emissions reduction goals; general economic, geopolitical, and business conditions in key regions of the world; foreign currency risk; inflation; changes in monetary policy by governments; tariffs; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays, or cancellations; challenges in our supply chain; production declines; the extent of future charges; the inability to recognize efficiencies and other intended benefits from our business strategies and initiatives, such as digital or new energy, as well as our cost reduction strategies; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission (the “SEC”).

If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this press release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this press release are made as of the date of this release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251015948706/en/