SLB Reports Sequential Growth Across All Operating Regions

SLB reported sequential growth across all operating regions in the third quarter, supported by a recovery in the Middle East, increased North American land activity, and expanded international deepwater operations. CEO Olivier Le Peuch noted that business in the Middle East grew 13% sequentially despite disruptions late in the quarter, and he highlighted a compelling outlook for 2027.

Growth was bolstered by the company's subsidiaries. ChampionX achieved its highest quarterly revenue since its acquisition, while SLB OneSubsea secured new international contracts. The company also saw a 23% sequential increase in Data Center Solutions revenue, primarily driven by demand for high-performance computing and AI in Asia.

SLB observed a shift in customer behavior toward production optimization and the adoption of AI-enabled workflows to improve field performance. The company also noted significant activity increases in Venezuela and growth from North American shale operators expanding their footprints abroad.