SLB and Equinor Ink Multi-Year Stimulation Deal for Norwegian Shelf
SLB sits 64% above its 52-week low of $31.64.
Summary
SLB signed a multi-year stimulation agreement with Equinor for the Norwegian Continental Shelf. The deal adds to a string of recent contract wins, including a seven-year Kuwait pact and a Venezuela modernization agreement. It reinforces SLB's upstream services backlog in a key offshore basin. No financial terms were disclosed, but the multi-year commitment signals steady activity in the North Sea.
At the time of this announcement, SLB was trading at $52.05 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $77.2B. The 52-week trading range was $31.64 to $58.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.