No matter what the headlines say, we expect to see increasing global exploration and production of fossil fuels far into the future.
Schlumberger Ltd. (NYSE:SLB) is the world’s largest provider of services and equipment used in drilling, evaluation, completion, production and maintenance of Oil & Gas wells, spending in this sector is huge.
SLB broke out at 18 on 13 November 2020 and confirmed on 3 February at 24.18, thus garnering a Cash Pile LTN buy rating with a long-term target at 84/share.
This is the Bluest Chip in the sector and pays a 2.25% dividend.
The support is Strong and deep and there is no overhead resistance. Our Key technicals are flashing Very Bullish in here.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the Oil & Gas industry worldwide.
It operates in 4 divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
The company offers reservoir interpretation and data processing services, open and cased-hole, and slickline services, exploration and production pressure and flow-rate measurement services, tubing-conveyed perforating services, integrated production systems, software, consulting, information management, and IT infrastructure services, reservoir characterization, field development planning, production enhancement consulting services, and petro technical data services and training solutions.
SLB designs, manufactures, and markets roller cone and fixed cutter drill bits; supplies drilling fluid systems, fluid systems and specialty equipment, production technology solutions, and engineered managed pressure and underbalanced drilling solutions; and offers environmental services and products; provides drilling and measurement, land drilling rigs, and related support services; and supplies well planning and drilling, engineering, supervision, logistics, procurement, and contracting services, as well as drilling rig management services.
In addition, the company offers well services; coiled tubing equipment; hydraulic fracturing, multistage completions, perforating, coiled tubing equipment, and services; well completion services and equipment; artificial lift production equipment and optimization services; and production management services.
Further, it provides integrated subsea production systems, drilling equipment and services, onshore and offshore platform wellhead systems and processing solutions; and valve and process systems.
The company was formerly known as Societe de Prospection Electrique. Schlumberger Limited was founded in Y 1926 and is HQ’d in Houston, Texas.
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