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SLB N.V. (SLB) Wins Landmark Aramco Contract for Saudi Unconventional Gas Development
Yahoo Finance· 2026-01-02 21:12
Core Insights - SLB N.V. is recognized as one of the best long-term investments for kids, with an Overweight rating maintained by Piper Sandler and a price target increase from $42 to $45, reflecting confidence in the company's international margin expansion and growth opportunities in the Middle East [1][2] Group 1: Contract and Business Development - SLB N.V. has been awarded a significant five-year contract by Aramco to provide stimulation services for Saudi Arabia's unconventional gas development program, which is part of a broader multi-billion-dollar initiative to increase domestic gas production and diversify the energy mix [2][3] - The contract will see SLB deploy advanced technologies in stimulation, well intervention, and frac automation, aiming to redefine operational performance in unconventional resource development and enhance production efficiency through digital solutions [3] Group 2: Company Overview - SLB N.V. is a leading energy technology and oilfield services company headquartered in Houston, Texas, originally founded in 1926 as Schlumberger, providing a wide range of technology, products, and services to the global energy industry across more than 100 countries [4]