is Schlumberger Buying Weatherford International?
Some think that SLB should purchase Oceaneering! While others believe that Weatherford International makes the most sense as a tack on acquisition! Moreover, now with the Wall Street Journal reporting that Exxon might purchase Pioneer Natural Resources. The Mergers & Acquisitions game in the Energy sector might start heating up!
See our piece: is Exxon buying Pioneer Natural Resources?
Lots of cash, low multiples. What is a CEO to do?
We spoke with our brilliant drilling CFO contact who felt Oceaneering made more sense for the mighty Schlumberger than Weatherford. Easier to digest, more synergies. Don’t forget Weatherford and Schlumberger abandoned a potential partnership 5 years ago!
is Schlumberger Buying Weatherford International?
is Schlumberger Buying Weatherford International?
Schlumberger is a multinational oilfield services company that was founded in 1926 by two French brothers, Conrad and Marcel Schlumberger. The company is based in Paris, France, and has operations in over 85 countries worldwide.
The Schlumberger brothers started their company by developing a new method for measuring the resistivity of subsurface formations in oil wells. This technique, known as electrical resistivity logging, allowed for more accurate mapping of underground formations, and revolutionized the oil and gas exploration industry.
Throughout the 1930s and 1940s, Schlumberger continued to expand its operations, introducing new technologies for well logging, drilling, and production. The company played a critical role in the development of offshore drilling, and in the 1960s, it developed a new technique for measuring the porosity and permeability of rock formations, which further advanced the industry’s ability to locate and extract oil and gas resources.
In the decades that followed, Schlumberger continued to innovate!
Moreover, introducing new technologies and services for well logging, drilling, and production. In the 1980s, the company expanded its services to include seismic exploration, and in the 1990s. Additionally, introduced new software and data management solutions for the oil and gas industry.
In conclusion, Schlumberger is one of the largest oilfield services companies in the world, with a workforce of over 82,000 employees. Furthermore, the company provides a wide range of services and technologies to the oil and gas industry. Including well logging, drilling, production, and data management solutions. Lastly, Schlumberger continues to be at the forefront of innovation in the industry. Thus, developing new technologies and services to help its clients locate and extract oil and gas resources more efficiently and sustainably.
