SLB's OneSubsea Secures Key Subsea Boosting Contract for BP's Thunder Horse Project
SLB sits 76% above its 52-week low of $31.64.
Summary
SLB's OneSubsea division has secured a contract to provide subsea boosting for BP's Thunder Horse project in the Gulf of Mexico. This is a positive business win for SLB, demonstrating continued demand for its specialized subsea services from a major client like BP. The contract helps to offset recent concerns about Q1 earnings and operational disruptions in other regions, as noted in recent financial reports.
At the time of this announcement, SLB was trading at $55.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $82B. 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: Dow Jones Newswires.