Meet SLB: The $70 billion oil services giant poised to cash in on AI data centers and the post-Strait of Hormuz oil exploration boom
For nearly a century, SLB has helped energy companies find hard-to-reach reserves. Now the global energy realignment is giving the French-Texan company a fresh growth story.
In 1912, Conrad Schlumberger, a French physicist, was conducting conductivity tests in Normandy to locate the ruins of an old abbey. The experiment, however, led to the discovery of a more lucrative application: detecting underground structures from the surface. Schlumberger and his brother Marcel went on to create the first well logs, which utilized electric cables for subsurface readings and became the backbone of modern geophysical prospecting.
In 1926, they founded Schlumberger, which soon expanded globally, becoming the largest oilfield services and energy technology company in the world. SLB employs more people than ExxonMobil and Chevron combined, and thrives in chaotic and conflict-ridden environments. With the Strait of Hormuz closed and Venezuela rebuilding its energy infrastructure, SLB is well-positioned to profit from the post-Oil Glut oil and gas exploration boom.
Written by urgent.news from Fortune's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
