About the Company
Schlumberger is a leading enterprise that deals with oilfield services and is headquartered at Houston, Texas, United States. Brothers Marcel and Conrad Schlumberger started their careers as an engineer and a scientist, respectively. Conrad Schlumberger came up with the method of detecting metals by their electrical conductivity rather than speculation. Conrad’s dream of using equipotential curves to detect ores was brought to fruition in his native place of Caen, France. However, World War 1 stalled his efforts. Later, in 1919, the commercial prospect of electrical speculating was developed. In 1926, they created a society for electrical prospecting called Pros. Using their technique, they understood what lay beneath the surface as, before this, it was impossible to know what was below the surface except through looking at the samples of rock that were bored. Pros grew into three international companies that ultimately became Schlumberger. In 1934, the Schlumberger Well Surveying Corporation was set up. In 1940, this company moved to Houston, Texas.
This company has been a part of several acquisitions and mergers over the years. Schlumberger acquired the oilfield equipment producer Cameron International for $14.8 billion in 2015. In 2014, this company announced the complete purchase of SES Holdings Ltd. In 2010, it acquired Smith International for $11 billion. 2006 saw it complete the purchase of WesternGeco for $2.4 billion. Waterloo Hydrogeologic was taken over in 2005, and Westbay Instruments and Van Essen Instruments were also purchased around this period. Back in 2004, the company launched Schlumberger Business Consulting which it later sold off to Accenture. 2001 saw this company acquire Sema Group plc which it later sold off for $1.5 billion. 1992 saw the company, along with Smith International, create a joint venture in drilling.
Schlumberger shares trade on the New York Stock Exchange, SIX Swiss Exchange, London Stock Exchange, Euronext Paris and NASDAQ under the ticker symbol “SLB”. Institutional Investor ranked this company first place for Best CEO, Best CFO, Best IRO under the Oil Services & Equipment sector in 2017. It received the Penn State Corporate Sponsor of the Year Award in the year 2017. Petroleum Economist recognised Schlumberger with the Service Company of the Year award in 2017. Schlumberger was awarded in four categories of Artificial Lift, Drill Bits, Marin Construction and Decommissioning, and Subsea Systems by the Meritorious Awards for Engineering Innovation. The company has four main offices in The Hague, London, Paris and Houston.;
|Industry||Oil & Gas Equipment & Services|