SLB Introduces Digitally Enabled Electric Well Solutions That Maximize Production and Recovery
HOUSTON--(BUSINESS WIRE)--May 6, 2025--
Global energy technology company SLB (NYSE: SLB) today launched Electris™ — a portfolio of digitally enabled electric well completions technologies that boost production and recovery while reducing the total cost of ownership of an asset.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250506243550/en/
Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir.
Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir. This enables operators to predict, adapt and act with confidence in response to dynamic production conditions — improving reservoir management over the life of the well and accessing reserves that conventional systems leave behind.
'Electris completions take reservoir management to the next level — making it possible for operators to get more out of their assets with fewer requirements for costly well interventions,' said Paul Sims, president, Production Systems. 'With much of the 'easy' oil already produced, operators are encountering more and more complex reservoirs. Electris completions can help shift the production economics in these reservoirs — resulting in higher recovery factors that maximize return on investment from the asset.'
There have been more than 100 installations of Electris completions technologies across five countries. In Norway, Electris completions were deployed offshore to enhance oil production in an extended-reach well. The operator is using intelligence from the system to determine which zones are contributing to production to optimize oil output and minimize produced water. Controlling water production with Electris completions has decreased the energy needed to lift and then pump treated water back into the reservoir.
Today's announcement was made at the Offshore Technology Conference, which is taking place this week in Houston, Texas.
For more information about SLB's Electris electric completions technologies, visit www.slb.com/Electris .
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com .
Cautionary Statement Regarding Forward-Looking Statements:
This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as 'expect,' 'may,' 'can,' 'estimate,' 'intend,' 'anticipate,' 'will,' 'potential,' 'projected' and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250506243550/en/
CONTACT: Media
Josh Byerly – SVP of Communications
Moira Duff – Director of External Communications
SLB
Tel: +1 (713) 375-3407
[email protected]
James R. McDonald – SVP of Investor Relations & Industry Affairs
Joy V. Domingo – Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
[email protected]
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ENVIRONMENT TECHNOLOGY OTHER ENERGY OTHER TECHNOLOGY OIL/GAS SOFTWARE SUSTAINABILITY GREEN TECHNOLOGY ENERGY HARDWARE
SOURCE: SLB
Copyright Business Wire 2025.
PUB: 05/06/2025 08:27 AM/DISC: 05/06/2025 08:26 AM
http://www.businesswire.com/news/home/20250506243550/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
If You Can Only Buy 1 Cathie Wood Stock in 2025, It Should Be This
Cathie Wood, founder, CEO and chief investment officer of Ark Invest, continues to make headlines for her high-conviction approach to disruptive innovation. Her flagship fund, the Ark Innovation ETF (ARKK), has posted a 52.9% return in the past 52 weeks, reflecting investor confidence. Known for identifying transformational themes early, Wood maintains focused exposure to industries like genomics, autonomous technology, and blockchain. Within this context, Natera (NTRA) has drawn sharp relevance. The company leads in cell-free DNA testing and precision medicine, aligning directly with Ark's long-term thesis. CoreWeave Just Revealed the Largest-Ever Nvidia Blackwell GPU Cluster. Should You Buy CRWV Stock? AMD Is Gunning for Nvidia's AI Chip Throne. Should You Buy AMD Stock Now? The Saturday Spread: Statistical Signals Flash Green for CMG, TMUS and VALE Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For investors seeking a stock that fits the Ark playbook, Natera may represent one of the most fundamentally aligned additions under Wood's current investment lens. Based in Austin, Texas, stands Natera (NTRA), a pioneer in the field of cell-free DNA and genetic testing. The $23.3 billion biotech firm's arsenal includes powerful offerings like Panorama for prenatal screening, Signatera for real-time cancer surveillance, and Prospera, which sharpens the lens on transplant rejection. Over the last three months, the stock has climbed 16.9%, leaving the broader S&P 500 Index's ($SPX) 5.4% gain behind. On May 8, Natera opened the books on its first-quarter, and the results exceeded Wall Street expectations. Investors responded swiftly, with the stock inching up 1.5% the same day. Natera posted $501.8 million in total revenues, a 36.5% year-over-year increase that soared past Wall Street's $443.3 million forecast. Behind those numbers were powerhouse operations. The company processed 855,100 tests during the quarter, up 16.2% year over year. Women's health volumes climbed meaningfully over the fourth quarter, but it was Signatera that stole the spotlight. The personalized, tumor-informed molecular residual disease test reached new heights, recording its highest volume quarter ever. Clinical volumes for Signatera grew 52% year over year, with a sequential gain of roughly 16,005 units over Q4, marking the most significant quarter-on-quarter growth to date. Gross margins landed at 63.1%, reflecting solid cost discipline. Moreover, Natera's net loss narrowed 1% from the year-ago period to $66.9 million. Also, the company managed to trim its loss per share by 10.7% to $0.50, outperforming analysts' projections of a $0.59 loss per share. As for liquidity, the balance sheet remained in good shape. Cash, cash equivalents and restricted cash climbed to $973.8 million, up from $945.6 million on Dec 31, 2024. CEO Steve Chapman has made no secret of the firm's long-term vision. He believes Signatera could ultimately generate over $5 billion in annual revenue, and he emphasized that they are still playing in the shallow end of a much deeper market pool. In a move that reinforced this optimism, Natera has raised its full-year revenue guidance to between $1.94 billion and $2.02 billion. That is a $70 million boost from the midpoint of its earlier outlook, pointing to a 26% year-over-year growth. On the other hand, analysts expect the Q2 2025 loss per share to widen 100% year over year to $0.60. For FY25, the loss per share is projected to increase 37% to $2.10, but FY26 could bring relief, with a forecast 64.8% narrowing to $0.74, hinting that profitability may finally be within reach. Analysts seem to be singing in harmony when it comes to NTRA, marking it with a firm 'Strong Buy' rating. Out of 19 analysts following the stock, 16 have given it an enthusiastic 'Strong Buy' rating, and the remaining three have placed their bets on a 'Moderate Buy.' The average price target of $200.42 represents potential upside of 17.6%. Meanwhile, the Street-High target of $251 hints at a 48% climb from current levels. Such projections do not come lightly and often reflect deep-rooted confidence in future earnings momentum and strategic execution. On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
Is It Worth Delaying Claiming Social Security If It Means Withdrawing More From Your 401(k)?
One of the most common dilemmas people face as they near retirement is whether to start collecting Social Security or delay it for a higher monthly benefit. But delaying Social Security often means relying more heavily on other resources, like a 401(k) or other savings, to fill the gap. Is it worth it? Read More: Find Out: 'When it comes to decisions about money, it is a matter of feeling in control and not feeling anxious or stressed,' said Trevor Houston, CEO at ClearPath Wealth Strategies in Frisco, Texas. 'One of the most common questions is whether to wait for the Social Security payments or to take money out of the 401(k) plan early.' Here's what to consider before tapping your 401(k). Delaying your Social Security retirement benefits beyond full retirement age (FRA) results in a higher monthly benefit amount until age 70. 'If you delay taking Social Security, the monthly check will increase by about 8% each year until you reach age 70. That's equivalent to getting a salary increase every year,' Houston explained. 'Pretty nice, right? However, the strategy of waiting only makes sense if you have enough in savings, investments or your 401(k) to cover your bills while you are waiting.' Here are some important factors to consider: Life expectancy: Do you have any serious health conditions? Have your parents and grandparents lived long lives? If you're in good health, waiting could give you a bigger monthly check. On the other hand, Houston explained that if your health or family history suggests a shorter life expectancy, it may make sense to claim Social Security early and use the money while you can. Monthly living expenses: How much money do you need every month to pay your basic living expenses? 'If you start taking out your 401(k) too early, you could end up short later on, especially if the market declines,' Houston said. This is called sequence risk, which could disrupt your retirement plan. A 2024 Vanguard report found that the average 401(k) balance for those age 65 and older is $272,588. However, the average is often skewed by high earners, and the median balance is $88,488. Taxes: Money from your 401(k) is taxed as ordinary income. According to Houston, taking out large sums of money could push you into a higher tax bracket. Safety and security: A stable monthly income provides a feeling of safety and security. 'Some people like to have the Social Security check coming into their account each month. It feels like a regular paycheck, and that provides a great deal of peace of mind during retirement,' he pointed out. Discover More: To show when this strategy might work, Houston provided an example: Let's say David reaches age 66, is in good health, and his parents are in their 90s. His 401(k) balance is around $400,000, and he doesn't need Social Security to pay bills or meet other financial needs. David chooses to delay Social Security and withdrawal from his 401(k) instead. Also, because of his conservative risk tolerance, his 401(k) generates a 5% annual growth rate, less than the 8% annual increase he'd get by waiting on Social Security. 'At the end of the day, waiting for Social Security and using your 401(k) could be a smart strategy if you have enough savings, and you expect to live a long time. But everyone's situation is different,' Houston wrote. 'A financial professional should evaluate your personal goals to determine the best course of action for your specific situation.' More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on Is It Worth Delaying Claiming Social Security If It Means Withdrawing More From Your 401(k)? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
an hour ago
- Forbes
Tesla Misses Robotaxi Launch Date, Goes With Safety Drivers
A vehicle Tesla is using for robotaxi testing purposes in Austin, Texas, US, on Friday, June 20, ... More 2025.. Photographer: Eli Hartman/Bloomberg Tesla's much-anticipated June 22 'no one in the vehicle' Robotaxi launch in Austin is not ready. Instead, Tesla has announced to its invite-only passengers that it will operate a limited service with Tesla employees on board the vehicle to maintain safety. Tesla will use an approach that was used in 2019 by Russian robotaxi company Yandex, putting the safety driver in the passengers seat rather than the driver's seat. (Yandex's robotaxi was divested from Russian and now is called AVRide.) Having an employee on board, commonly called a safety driver, is the approach that every robocar company has used for testing, including testing of passenger operations. Most companies spend many years (Waymo spent a decade) testing with safety drivers, and once they are ready to take passengers, there are typically some number of years testing in that mode, though the path to removing the safety driver depends primarily on evaluation of the safety case for the vehicle, and less on the presence of passengers. Tesla has put on some other restrictions--rides will be limited to 6am to midnight (the opposite of Cruise's first operations, which were only at night) and riders come from an invite-only list (as was also the case for Waymo, and Cruise and others in their early days.) Rides will be limited to a restricted service area (often mistakenly called a 'geofence') which avoids complex and difficult streets and intersections. Rides will be unavailable in inclement weather, which also can happen with other vehicles, though fairly rarely today. Tesla FSD is known to disable itself if rain obscures some of its cameras--only the front cameras have a rain wiper. The fleet will be small. Waymo started testing with safety drivers in 2009, gave rides to passengers with safety drivers in 2017, and without safety drivers in 2020 in the Phoenix area. Cruise had a much shorter period with passengers and safety drivers. Motional has given rides for years but has never removed the safety driver. Most Chinese companies spent a few years doing it. Giving passengers rides requires good confidence in the safety of the system+safety driver combination, but taking the passengers does not alter how well the vehicle drives, except perhaps around pick-up and drop-off. (While a vehicle is more at liberty to make hard stops with no passengers on board, I am aware of no vehicle which takes advantage of this.) As such we have no information on whether Tesla will need their safety drivers for a month or a several years, or even forever with current hardware. Passenger's Seat vs. Driver's Seat Almost all vehicles use a safety driver behind the wheel. Tesla's will be in the passenger seat, in a situation similar to that used by driving instructors for student human drivers. While unconfirmed by Tesla, the employee in the passenger seat can grab the wheel and steer. Because stock Teslas have fully computer controlled brake and acceleration, they might equip the driver with electronic pedals. Some reports have suggested they have a hand controller or other ways to command the vehicle to brake. There is no value to putting the safety driver on the passengers side. It is no safer than being behind the wheel, and believed by most to be less safe because of the unusual geometr20 November 2024, Berlin: A prototype of the Tesla Cybercab stands in a showroom in the Mall of Berlin. Photo: Hannes P. Albert/dpa (Photo by Hannes P Albert/picture alliance via Getty Images)y. It's hard to come up with any reason other than just how it looks. Tesla can state the vehicles have 'nobody in the driver's seat' in order to attempt to impress the public. The driving school system works, so it's not overtly dangerous, but in that case there's an obvious reason for it that's not optics. Tesla Cybercab concept. With only 2 seats and no controls, not very suitable for a safety driver. ... More These are not being used in Tesla's Austin pilot. That said, most robocar prototypes, including Tesla supervised FSD, are reasonably safe with capable safety drivers. A negligent and poorly managed safety driver in an Uber ATG test vehicle killed a pedestrian in Tempe, Arizona when the safety driver completely ignored her job, but otherwise these systems have a good record. The combination of Tesla Autopilot and a supervising driver has a reasonable record. (The record is not nearly as good as some people think Tesla claims. Every quarter, Tesla publishes a deeply misleading report comparing the combination of Tesla Autopilot plus supervisor to the general crash rate, but they report airbag deployments for the Teslas mostly on freeways and compare it without general crash numbers on all roads for general drivers. This makes it seem Autopilot is many times safer than regular drivers when it's actually similar, a serious and deceitful misrepresentation.) As noted, Yandex, now AVRide, has used safety drivers in the passenger seat, and has done so in Austin--also speculated to be mostly for optics, though there are some legal jurisdictions where companies shave made this move because the law requires safety drivers and they hope to convey an aura of not needing them. This has also been the case in China.) When Cruise did their first 'driverless' demo ride in San Francisco, they had an employee in the passengers seat. So Tesla has been ready to run with safety drivers for years. What's tested here isn't the safety of the cars, but all the complexity of handling passengers, including the surprising problems of good PuDo (Pick-up/Drop-off.) Whether Teslas can operate a safe robotaxi with nobody onboard, particularly with their much more limited sensor hardware, remains to be seen. Other Paths To Launch Tesla apparently experimented with different paths to getting out on the road before they are ready to run unsupervised. In particular, vehicles were seen with the passenger seat safety driver, and also being followed by a 'chase car' with two on board. Reports also came of Tesla planning for 'lots of tele-ops' including not just remote assistance (as all services do) but remote supervision including remote driving. We may speculate that Tesla evaluated many different approaches: Because Elon Musk promised 'nobody in the car' and 'unsupervised' in the most recent Tesla earnings call, there was great pressure to produce #1, but the Tesla team must have concluded they could not do that yet, and made the right choice, though #3 is a better choice than #4. They also did not feel up to #2, which is commonly speculated to be what other companies have done on their first launch, later graduating to #1 #5 just looks goofy, I think the optics would not work, and it's also challenging. Remote driving is real and doable--in spite of the latency and connectivity issues of modern data networks--but perhap Tesla could not get it ready in time. All teams use remote assistance operators who do not drive the cars, but can give them advice when they get confused by a situation, and stop and ask for advice. Even Waymo recently added a minor remote driving ability for low-speed 'get the car out off the road' sort of operations. I have recommended this for some time. It is worth noting the contrast beween Cruise's 'night only' launch and Tesla's mostly-daytime one. Cruise selected the night because there is less traffic and complexity. LIDARs see very well at night. Tesla's camera-based system has very different constraints at night and many fear it's inferior then. On the other hand Tesla will operate in some night hours and with more cars and pedestrians on the street. The question for Tesla will be whether the use of safety drivers is a very temporary thing, done just because they weren't quite ready but needed to meet the announced date, or a multi-year program as it has been for most teams. Tesla is famous for not meeting the forecast ship dates for its FSD system, so it's not shocking that this pattern continues. The bigger question is whether they can do it at all. Tesla FSD 13, the version available to Tesla owners, isn't even remotely close to robotaxi ready. If Tesla has made a version which is closer, through extra work, training and severe limitations of the problem space, it's still a big accomplishment. This will be seen in the coming months. Two robocar teams had severe interactions with pedestrians. Both those teams, and one pedestrian, are dead. Tesla knows they must not make mistakes.
