SLB Wins Four Aramco Contracts to Deliver 450+ Wells in Saudi Arabia
SLB sits 65% above its 52-week low of $31.64.
Summary
SLB has been awarded four integrated well construction contracts by Aramco, covering more than 450 wells over a three-year term with an optional two-year extension. The awards expand SLB's integrated well construction business in Saudi Arabia and reflect Aramco's confidence in its technology-enabled operating model. This follows a series of major contract wins and the $3.4B Kelvion acquisition, reinforcing SLB's growth momentum in the Middle East. The contracts are expected to contribute to revenue over the next three to five years, though specific financial terms were not disclosed.
At the time of this announcement, SLB was trading at $52.32 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $77B. The 52-week trading range was $31.64 to $60.46. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.