SLB (SLB)
Supplies technology, services, and software from reservoir evaluation through oil and gas production.
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SLB sells the tools, equipment, software and field work used to find oil and gas, drill wells and keep them producing. Production hardware is gaining weight after the ChampionX purchase, while drilling and underground evaluation work are shrinking. Software and factory-built data-center systems are the smaller bets on steadier, less oil-dependent growth.
Item facts: FY2025 · year ended Dec 31, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
7 in detail · 13 more below
Well Construction
Tools, special liquids and crews that steer and seal new wells. Sales fell 11% in FY2025; watch whether multi-year offshore work can offset weaker near-term drilling budgets.
Competes with Drilling and Evaluation (Halliburton) · Well Construction (Baker Hughes) · Well Construction and Completions (Weatherford)
In plain English
Think of a well as a narrow tunnel that must hit a small target deep underground. SLB supplies the drill bits, special liquids that carry broken rock away, sensors that show where the drill is, and crews that steer and seal the hole.
An oil producer can hire one tool for one trip down the well or hand SLB a larger package covering design, equipment, crews and outside suppliers. SLB is paid as each job, tool trip or project step is completed; when customers postpone wells, this revenue disappears quickly.
Reservoir Performance
Measurements, tests and treatments that find productive rock and revive aging wells. Sales fell 5% in FY2025; the counterweight is that old fields need repeated work just to keep flowing.
Competes with Completion and Production (Halliburton) · Completions, Intervention and Measurements (Baker Hughes) · Reservoir Description (Core Laboratories)
In plain English
Before spending on a well, an operator needs to know what is hiding in the rock and whether it will flow. SLB lowers instruments into the hole, tests pressure and fluids, then uses treatments and repair tools to open blocked paths or revive an aging well.
Customers pay for each survey, test, treatment or repair campaign. It is closer to a doctor diagnosing and reopening a clogged artery than to selling a machine: the value comes from choosing the right action and getting more oil or gas moving again.
Production Systems
The largest engine sells the hardware and chemicals that bring oil and gas to the surface and keep it moving. First-half FY2026 sales rose 26%, but the lift came from ChampionX while SLB's older business slipped.
Competes with Production Solutions and Subsea & Surface Pressure Systems (Baker Hughes) · Completion and Production (Halliburton) · Production and Intervention (Weatherford)
In plain English
The unglamorous part that keeps a finished well earning. Once oil or gas starts flowing, SLB supplies pumps that help lift it, valves that control it, chemicals that prevent trouble, and larger processing packages that prepare it for transport.
Producers buy equipment for new developments and return for replacement parts, chemicals, maintenance and improvements as fields age. A sale can be a pump shipment, a valve package or a crew installing a larger system. ChampionX added more chemicals and lifting equipment, making this division bigger even as the operations SLB already owned softened.
SLB OneSubsea
Seafloor production equipment is SLB's clearest long-duration business. SLB had $5.6B of companywide booked work at year-end, but did not separate OneSubsea's portion; watch factory and vessel schedules turn awards into deliveries.
Competes with Subsea (TechnipFMC) · Subsea & Surface Pressure Systems (Baker Hughes)
In plain English
Far below an offshore platform, frames of pipes, valves and controls sit on the seabed and manage each well before the oil reaches shore. OneSubsea designs and builds that equipment, including pumps that add pressure when the natural flow is not enough.
Oil companies place large orders years before a field starts producing. SLB earns as designs are finished, hardware is manufactured, installed and later serviced. The long schedule makes future work easier to see than a one-day field job, but a delayed customer decision, factory step or installation vessel can also push payment into a later period.
Digital
Software that helps energy teams read underground data, plan wells and run fields. Subscriptions and repeat software fees were running at $1.04B a year by mid-FY2026; watch whether adoption accelerates after earlier growth hopes fell short.
Competes with DecisionSpace 365 (Halliburton) · Leucipa and Cordant (Baker Hughes)
In plain English
Instead of passing paper maps and separate computer files between geologists, drillers and production teams, SLB gives them a shared digital workbench. Programs such as Petrel help turn underground measurements into a model, while other tools help plan wells and monitor operating fields.
Customers pay subscriptions, one-time software fees, upkeep, expert help and access to SLB's library of exploration data. The subscription part behaves like renting the same workshop every year: it can repeat without another truck or crew visit, but only if customers keep using the tools and trust the data inside them.
Asset Performance Solutions
SLB can supply people, technology and its own money, then get paid as a field produces or beats an agreed target. About $1.80B was tied up here at year-end; watch output, country terms and collection.
Competes with Asset Solutions (Petrofac) · Integrated Services and Projects (Weatherford)
In plain English
Here SLB puts more skin in the game than on an ordinary service call. It may take responsibility for improving an oilfield, supply the tools and crews, and sometimes fund part of the work itself.
Payment can arrive for each barrel produced, as a slice of the cash the field generates, or only after output rises above an agreed starting point. That makes the arrangement resemble a contractor paid from the extra harvest rather than for hours worked. Success can create years of fees, but weak wells, changed country terms or a customer that pays late leave SLB carrying more of the risk.
Data Center Solutions
Factory-built power, cooling and equipment rooms for giant computing campuses. Sales grew 121% in FY2025 from a tiny base; watch the Meta program and whether the pending Kelvion cooling purchase closes.
Competes with MegaMod (Vertiv) · EcoStruxure Modular Data Center (Schneider Electric)
In plain English
Picture a data-center building arriving in chunks instead of being assembled piece by piece outdoors. SLB designs rooms for power, cooling and computer equipment, builds much of them in a factory, ships them to the site and helps switch everything on.
Companies building giant computing campuses pay for the design, purchased equipment, factory assembly and site delivery as the project advances. Faster repetition is the promise: one tested room can become the pattern for many more. Meta is an anchor customer for a planned Canadian build, while the agreed Kelvion purchase would add more cooling equipment if it closes.
Well ConstructionTools, special liquids and crews that steer and seal new wells. Sales fell 11% in FY2025; watch whether multi-year offshore work can offset weaker near-term drilling budgets.Tools, special liquids and crews that steer and seal new wells. Sales fell 11% in FY2025; watch whether multi-year offshore work can offset weaker near-term drilling budgets.
In plain English
Think of a well as a narrow tunnel that must hit a small target deep underground. SLB supplies the drill bits, special liquids that carry broken rock away, sensors that show where the drill is, and crews that steer and seal the hole.
An oil producer can hire one tool for one trip down the well or hand SLB a larger package covering design, equipment, crews and outside suppliers. SLB is paid as each job, tool trip or project step is completed; when customers postpone wells, this revenue disappears quickly.
Competes with Drilling and Evaluation (Halliburton) · Well Construction (Baker Hughes) · Well Construction and Completions (Weatherford)
Reservoir PerformanceMeasurements, tests and treatments that find productive rock and revive aging wells. Sales fell 5% in FY2025; the counterweight is that old fields need repeated work just to keep flowing.Measurements, tests and treatments that find productive rock and revive aging wells. Sales fell 5% in FY2025; the counterweight is that old fields need repeated work just to keep flowing.
In plain English
Before spending on a well, an operator needs to know what is hiding in the rock and whether it will flow. SLB lowers instruments into the hole, tests pressure and fluids, then uses treatments and repair tools to open blocked paths or revive an aging well.
Customers pay for each survey, test, treatment or repair campaign. It is closer to a doctor diagnosing and reopening a clogged artery than to selling a machine: the value comes from choosing the right action and getting more oil or gas moving again.
Competes with Completion and Production (Halliburton) · Completions, Intervention and Measurements (Baker Hughes) · Reservoir Description (Core Laboratories)
Production SystemsThe largest engine sells the hardware and chemicals that bring oil and gas to the surface and keep it moving. First-half FY2026 sales rose 26%, but the lift came from ChampionX while SLB's older business slipped.The largest engine sells the hardware and chemicals that bring oil and gas to the surface and keep it moving. First-half FY2026 sales rose 26%, but the lift came from ChampionX while SLB's older business slipped.
In plain English
The unglamorous part that keeps a finished well earning. Once oil or gas starts flowing, SLB supplies pumps that help lift it, valves that control it, chemicals that prevent trouble, and larger processing packages that prepare it for transport.
Producers buy equipment for new developments and return for replacement parts, chemicals, maintenance and improvements as fields age. A sale can be a pump shipment, a valve package or a crew installing a larger system. ChampionX added more chemicals and lifting equipment, making this division bigger even as the operations SLB already owned softened.
Competes with Production Solutions and Subsea & Surface Pressure Systems (Baker Hughes) · Completion and Production (Halliburton) · Production and Intervention (Weatherford)
SLB OneSubseaSeafloor production equipment is SLB's clearest long-duration business. SLB had $5.6B of companywide booked work at year-end, but did not separate OneSubsea's portion; watch factory and vessel schedules turn awards into deliveries.Seafloor production equipment is SLB's clearest long-duration business. SLB had $5.6B of companywide booked work at year-end, but did not separate OneSubsea's portion; watch factory and vessel schedules turn awards into deliveries.
In plain English
Far below an offshore platform, frames of pipes, valves and controls sit on the seabed and manage each well before the oil reaches shore. OneSubsea designs and builds that equipment, including pumps that add pressure when the natural flow is not enough.
Oil companies place large orders years before a field starts producing. SLB earns as designs are finished, hardware is manufactured, installed and later serviced. The long schedule makes future work easier to see than a one-day field job, but a delayed customer decision, factory step or installation vessel can also push payment into a later period.
Competes with Subsea (TechnipFMC) · Subsea & Surface Pressure Systems (Baker Hughes)
DigitalSoftware that helps energy teams read underground data, plan wells and run fields. Subscriptions and repeat software fees were running at $1.04B a year by mid-FY2026; watch whether adoption accelerates after earlier growth hopes fell short.Software that helps energy teams read underground data, plan wells and run fields. Subscriptions and repeat software fees were running at $1.04B a year by mid-FY2026; watch whether adoption accelerates after earlier growth hopes fell short.
In plain English
Instead of passing paper maps and separate computer files between geologists, drillers and production teams, SLB gives them a shared digital workbench. Programs such as Petrel help turn underground measurements into a model, while other tools help plan wells and monitor operating fields.
Customers pay subscriptions, one-time software fees, upkeep, expert help and access to SLB's library of exploration data. The subscription part behaves like renting the same workshop every year: it can repeat without another truck or crew visit, but only if customers keep using the tools and trust the data inside them.
Competes with DecisionSpace 365 (Halliburton) · Leucipa and Cordant (Baker Hughes)
Asset Performance SolutionsSLB can supply people, technology and its own money, then get paid as a field produces or beats an agreed target. About $1.80B was tied up here at year-end; watch output, country terms and collection.SLB can supply people, technology and its own money, then get paid as a field produces or beats an agreed target. About $1.80B was tied up here at year-end; watch output, country terms and collection.
In plain English
Here SLB puts more skin in the game than on an ordinary service call. It may take responsibility for improving an oilfield, supply the tools and crews, and sometimes fund part of the work itself.
Payment can arrive for each barrel produced, as a slice of the cash the field generates, or only after output rises above an agreed starting point. That makes the arrangement resemble a contractor paid from the extra harvest rather than for hours worked. Success can create years of fees, but weak wells, changed country terms or a customer that pays late leave SLB carrying more of the risk.
Competes with Asset Solutions (Petrofac) · Integrated Services and Projects (Weatherford)
Data Center SolutionsFactory-built power, cooling and equipment rooms for giant computing campuses. Sales grew 121% in FY2025 from a tiny base; watch the Meta program and whether the pending Kelvion cooling purchase closes.Factory-built power, cooling and equipment rooms for giant computing campuses. Sales grew 121% in FY2025 from a tiny base; watch the Meta program and whether the pending Kelvion cooling purchase closes.
In plain English
Picture a data-center building arriving in chunks instead of being assembled piece by piece outdoors. SLB designs rooms for power, cooling and computer equipment, builds much of them in a factory, ships them to the site and helps switch everything on.
Companies building giant computing campuses pay for the design, purchased equipment, factory assembly and site delivery as the project advances. Faster repetition is the promise: one tested room can become the pattern for many more. Meta is an anchor customer for a planned Canadian build, while the agreed Kelvion purchase would add more cooling equipment if it closes.
Competes with MegaMod (Vertiv) · EcoStruxure Modular Data Center (Schneider Electric)
Named in filings, launches and programs
- ChampionX production chemicals and artificial-lift portfolioProduct lineAcquired chemicals and pump systems now sit largely inside Production Systems and drove the division's recent growth.
- Delfi, Lumi, and Tela digital stackPlatformApplications, a shared data layer and task-performing software tools form the core of SLB's digital workspace.
- Petrel and TechlogProduct linePrograms for interpreting underground rock and well measurements; Shell uses Petrel across its operations.
- S&P Global upstream energy software portfolioProduct lineKingdom, Petra, Harmony Enterprise and related programs joined Digital after the September 2026 purchase closed.
- SLB CapturiBrandSmall factory-built systems that capture carbon dioxide; first-half FY2026 sales declined and remain immaterial to SLB.
- KelvionBrand · AnnouncedPending cooling-equipment purchase meant to broaden Data Center Solutions; closing is expected in the first half of 2027.
- KOC Mutriba integrated field-development programCustomer program · RampingFive-year, $1.5B Kuwait Oil Company program spanning well construction, underground evaluation and production work.
- KOC Ahmadi Innovation ValleyCustomer programSeven-year Kuwait Oil Company agreement for applied research, technology deployment and digital programs.
- Shell multi-region deepwater drilling programCustomer programThree-year drilling contracts covering offshore work in several regions, including the UK North Sea and Trinidad and Tobago.
- bp Paleogene subsea boosting programCustomer program · RampingStandardized OneSubsea pumps for bp's Kaskida, Tiber and Thunder Horse offshore projects.
- Meta Canada 1-GW data-center programCustomer program · AnnouncedAnchor Canadian modular-building program for Meta; its schedule is an important test of the young data-center business.
- PDVSA digital-modernization agreementCustomer program · AnnouncedLong-term data and task-performing software agreement; timing and collectability were not disclosed.
- SLDC land-rig joint ventureBrandThirty-percent-owned venture holding the Oman and Kuwait rigs transferred during SLB's land-rig reorganization.
ChampionX production chemicals and artificial-lift portfolioProduct line
Acquired chemicals and pump systems now sit largely inside Production Systems and drove the division's recent growth.
Delfi, Lumi, and Tela digital stackPlatform
Applications, a shared data layer and task-performing software tools form the core of SLB's digital workspace.
Petrel and TechlogProduct line
Programs for interpreting underground rock and well measurements; Shell uses Petrel across its operations.
S&P Global upstream energy software portfolioProduct line
Kingdom, Petra, Harmony Enterprise and related programs joined Digital after the September 2026 purchase closed.
SLB CapturiBrand
Small factory-built systems that capture carbon dioxide; first-half FY2026 sales declined and remain immaterial to SLB.
KelvionBrand · Announced
Pending cooling-equipment purchase meant to broaden Data Center Solutions; closing is expected in the first half of 2027.
KOC Mutriba integrated field-development programCustomer program · Ramping
Five-year, $1.5B Kuwait Oil Company program spanning well construction, underground evaluation and production work.
KOC Ahmadi Innovation ValleyCustomer program
Seven-year Kuwait Oil Company agreement for applied research, technology deployment and digital programs.
Shell multi-region deepwater drilling programCustomer program
Three-year drilling contracts covering offshore work in several regions, including the UK North Sea and Trinidad and Tobago.
bp Paleogene subsea boosting programCustomer program · Ramping
Standardized OneSubsea pumps for bp's Kaskida, Tiber and Thunder Horse offshore projects.
Meta Canada 1-GW data-center programCustomer program · Announced
Anchor Canadian modular-building program for Meta; its schedule is an important test of the young data-center business.
PDVSA digital-modernization agreementCustomer program · Announced
Long-term data and task-performing software agreement; timing and collectability were not disclosed.
SLDC land-rig joint ventureBrand
Thirty-percent-owned venture holding the Oman and Kuwait rigs transferred during SLB's land-rig reorganization.