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Schlumberger NV vs NPK International: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Schlumberger NV (SLB)

Q3 2026
▲2▼2

SLB wins big contracts but oil price crash and share loss hit stock

  • Major contract wins SLB won a seven-year Kuwait Oil AI/production contract, an Eni Baleine Phase 3 subsea deal, and major contracts with Aramco, Equinor, Exxon, and Chevron, boosting future revenue visibility.

    These new contracts are a key positive driver for SLB's business and stock.

  • Digital growth and data-center pivot SLB grew digital sales 9%, formed an AI data-center alliance with Liberty Energy, and acquired Kelvion for ~$4.1–4.3B to supply data-center cooling, expanding beyond oilfield services.

    This shows SLB's strategic move into new markets, a positive force for the stock.

  • Oil price crash and stock drop Brent crude crashed from $138 to about $71, causing SLB's stock to fall 23% as lower oil prices reduce demand for oilfield services and pressure profits.

    The oil price crash was the main negative driver of SLB's stock price during the quarter.

  • Middle East weakness and share loss Middle East revenue fell 13% on security issues, with a $150M Q3 hit expected. Analysts flag a sell rating, low gross margins, and a 7.6% revenue decline—worse than peers—signaling core oilfield share loss.

    This highlights operational and competitive challenges that weighed on SLB's performance and stock.

August 2026
▲3▼1

SLB beats Q2, pivots to AI cooling, but oilfield share loss persists

  • Q2 earnings beat and digital growth SLB reported $9B revenue and $0.55 adjusted EPS, beating expectations, with digital sales up 9% and free cash flow improving by $739M. This shows the core business remains profitable and cash-generative despite weak oil prices.

    Earnings beat is a key new financial result that directly supports the stock.

  • AI data-center cooling pivot via Kelvion acquisition SLB is buying Kelvion for about $4.1–4.3B to enter AI data-center cooling, a fast-growing market. This move expands beyond oilfield services and could open a new long-term revenue stream as data centers demand more cooling.

    This is a major strategic pivot announced in the period, offering new growth beyond oil.

  • Major contract wins with Aramco, Equinor, Exxon, Chevron SLB secured significant deals: 450+ wells with Aramco, plus contracts with Equinor, ExxonMobil, and a digital alliance with Chevron. Venezuela and North Sea carbon storage projects add new revenue streams, reinforcing the order book.

    These contract wins are new and demonstrate ongoing demand for SLB's services.

  • Middle East weakness and oilfield share loss Middle East revenue fell 13% on security issues, with a $150M Q3 hit expected. Analysts also flag a sell rating, low gross margins, and an expected 7.6% revenue decline—worse than peers like Halliburton—signaling core oilfield share loss.

    This is the main counterweight: operational setbacks and competitive pressures that could drag on future results.

Latest
▲3▼1

SLB pivots to AI data centers and digital deals as oilfield revenue slips

  • Revenue decline and sell rating weigh on sentiment SLB was flagged as a sell due to low gross margin and a rich forward P/E, and analysts expect a 7.6% revenue drop this quarter, worse than last year's decline. Peers like Halliburton and Oceaneering grew, so SLB is losing ground in its core oilfield business.

    This explains the main negative pressure on SLB's price from weak core results and a bearish analyst call.

  • SLB bets $4.3 billion on AI data center cooling SLB is buying Kelvion, a heat-exchange company, for about $4.3 billion to expand into cooling and power for AI data centers. The deal should add to earnings and cash flow within a year and more than double revenue per gigawatt, opening a new growth market beyond oil.

    This is the biggest strategic move of the period, showing SLB's shift into a faster-growing AI infrastructure market.

  • Major contract wins build backlog and digital reach SLB won four multi-year well construction contracts from Aramco covering 450+ wells, an Equinor digital monitoring deal, an Invictus drilling award in Zimbabwe, and an ExxonMobil subsea contract in Mozambique. These add order backlog and show demand for SLB's integrated and digital services.

    These awards directly support future revenue and demonstrate SLB's competitive strength in key regions.

  • Chevron joins SLB-TotalEnergies digital alliance Chevron is joining SLB and TotalEnergies' Arena digital subsurface collaboration, adding investment and expertise. This deepens SLB's digital framework with a second global operator, supporting higher-margin digital workflows and strengthening its technology leadership.

    It shows SLB's digital strategy gaining traction with major oil companies, a positive for long-term margins.

▲4

SLB expands into data-center cooling and Venezuela oil services

  • Venezuela oil deals signed SLB signed agreements with Venezuela and Hunt Oil, including reservoir studies and reactivating up to 15 rigs. This opens a large new market, potentially boosting future revenue and lifting the stock.

    This is a new, concrete contract win that directly expands SLB's business.

  • North Sea carbon storage role and new downhole system SLB became strategic reservoir partner for the Havstjerne carbon storage project and launched ExaCT, a downhole control system. These moves grow its low-carbon and well-intervention services, supporting future earnings.

    New project and product launch show SLB's expansion into new areas.

  • $4.1B Kelvion acquisition for data-center cooling SLB agreed to buy Kelvion, a thermal management company, for about $4.1 billion. This expands its data-center solutions, expected to add revenue and be accretive to earnings within a year, driving the stock up.

    Major acquisition that shifts SLB further into data-center infrastructure, a key growth driver.

  • US-Venezuela oil deal boosts SLB outlook The U.S.-Venezuela oil agreement could bring $100 billion in infrastructure investment, with SLB positioned to benefit. This adds long-term demand for its services, supporting the stock price.

    Macro deal that creates a large pipeline of potential work for SLB.

▲2▼1

SLB beats Q2 estimates, expands AI and data-center push, but Middle East risks linger

  • Q2 beat and digital growth SLB reported Q2 revenue of $9 billion and adjusted EPS of $0.55, beating estimates. Digital revenue jumped 9% sequentially, and free cash flow improved by $739 million. This shows the company is growing profitably, which supports a higher stock price.

    It explains the core earnings strength that reassures investors and supports the stock.

  • AI data-center alliance and contract wins SLB formed an alliance with Liberty Energy to power AI data centers and won new contracts from Eni, Brunei Shell, and PDVSA. These deals expand its digital and production services, adding future revenue streams that can lift the stock.

    It highlights new business wins that drive future growth and investor optimism.

  • Middle East security and oil price drop Middle East revenue fell 13% due to security issues, and SLB warned of a $150 million Q3 revenue hit. Oil prices also tumbled after U.S. halted Iran strikes, dragging energy stocks down. These pressures can weigh on SLB's near-term results and stock price.

    It provides the main counterweight: geopolitical and pricing risks that could hurt earnings.

July 2026
▲3

SLB wins new contracts and AI data-center deal as oil crash hits

  • Seven-year Kuwait Oil contract SLB won a seven-year contract with Kuwait Oil Company to lead the Ahmadi Innovation Valley program, covering nearly 100 AI and production projects. This locks in long-term demand for SLB's services and digital tools, supporting future revenue and the stock price.

    This is a new, concrete contract win that directly boosts SLB's order book and revenue visibility.

  • Eni Baleine Phase 3 subsea contract SLB's OneSubsea joint venture won a major contract from Eni for Phase 3 of the deepwater Baleine project offshore Côte d'Ivoire, delivering subsea systems for 13 wells. This adds significant deepwater project revenue and reinforces SLB's subsea leadership.

    A new major contract award that signals ongoing demand for SLB's high-value subsea equipment.

  • Liberty Energy data-center alliance SLB formed an alliance with Liberty Energy to supply modular infrastructure and power generation for AI data centers. This expands SLB's digital and new-energy footprint, opening a new growth avenue beyond oilfield services and supporting a higher valuation.

    A new partnership that diversifies SLB into the fast-growing AI data-center market, a key part of the bull case.

  • Oil price crash and 23% stock drop SLB shares fell 23% from their high as Brent crude plunged from $138 to about $71 on peace hopes. While this pressures near-term demand and sentiment, SLB's $100 billion deepwater project pipeline and temporary Middle East disruptions are seen as buying opportunities.

    This explains the major negative price move and the counterbalancing long-term positives that investors are weighing.

▲3

SLB wins new contracts and AI data-center deal as oil crash hits

  • Seven-year Kuwait Oil contract SLB won a seven-year contract with Kuwait Oil Company to lead the Ahmadi Innovation Valley program, covering nearly 100 AI and production projects. This locks in long-term demand for SLB's services and digital tools, supporting future revenue and the stock price.

    This is a new, concrete contract win that directly boosts SLB's order book and revenue visibility.

  • Eni Baleine Phase 3 subsea contract SLB's OneSubsea joint venture won a major contract from Eni for Phase 3 of the deepwater Baleine project offshore Côte d'Ivoire, delivering subsea systems for 13 wells. This adds significant deepwater project revenue and reinforces SLB's subsea leadership.

    A new major contract award that signals ongoing demand for SLB's high-value subsea equipment.

  • Liberty Energy data-center alliance SLB formed an alliance with Liberty Energy to supply modular infrastructure and power generation for AI data centers. This expands SLB's digital and new-energy footprint, opening a new growth avenue beyond oilfield services and supporting a higher valuation.

    A new partnership that diversifies SLB into the fast-growing AI data-center market, a key part of the bull case.

  • Oil price crash and 23% stock drop SLB shares fell 23% from their high as Brent crude plunged from $138 to about $71 on peace hopes. While this pressures near-term demand and sentiment, SLB's $100 billion deepwater project pipeline and temporary Middle East disruptions are seen as buying opportunities.

    This explains the major negative price move and the counterbalancing long-term positives that investors are weighing.

Q2 2026
▲4

SLB bets big on digital and AI to offset weak oilfield results

  • Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.

    This is a new, concrete growth target that directly addresses future earnings potential.

  • Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.

    The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.

  • New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.

    The marketplace is a new commercial channel that could accelerate digital revenue growth.

  • Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.

    This is a new geographic contract win that expands SLB's addressable market.

June 2026
▲4

SLB bets big on digital and AI to offset weak oilfield results

  • Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.

    This is a new, concrete growth target that directly addresses future earnings potential.

  • Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.

    The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.

  • New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.

    The marketplace is a new commercial channel that could accelerate digital revenue growth.

  • Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.

    This is a new geographic contract win that expands SLB's addressable market.

▲4

SLB bets big on digital and AI to offset weak oilfield results

  • Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.

    This is a new, concrete growth target that directly addresses future earnings potential.

  • Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.

    The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.

  • New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.

    The marketplace is a new commercial channel that could accelerate digital revenue growth.

  • Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.

    This is a new geographic contract win that expands SLB's addressable market.

NPK International Inc. (NPKI)