Introduction
Schlumberger is the leading oilfield services provider, trusted to deliver superior results and improved E&P performance for oil and gas companies around the world.
Schlumberger Limited (NYSE: SLB) is the world's largest oilfield services company. Schlumberger employs over 113,000 people of more than 140 nationalities working in approximately 85 countries. Its principal offices are in Houston, Paris, Schlumberger was founded in 1926 by French brothers Conrad and Marcel Schlumberger. Today Schlumberger supplies the petroleum industry with drilling services and well testing. The company is also involved in the groundwater extraction.
Thee new company sold electrical-measurement mapping services and recorded the first-ever electrical resistivity well log, in France in 1927. The company quickly expanded, logging its first well in the U.S. in 1929, in California .
In 1935, the Schlumberger Well Surveying Corporation was founded in Houston, later evolving into Schlumberger Well Services, and finally Schlumberger Wireline & Testing. Schlumberger invested heavily in research, inaugurating the Schlumberger-Doll Research Center in 1948, contributing to the development of a number of new logging tools.
In 1956 Schlumberger Limited was incorporated as a holding company for all Schlumberger businesses, which by now included American testing and production company Johnston Testers. Over the years, Schlumberger continued to expand its operations and acquisitions. In 1960, Dowell Schlumberger (50% Schlumberger, 50% Dow Chemical), which specialized in pumping services for the oil industry was formed.
In 1962, Schlumberger Limited was listed on the New York Stock Exchange.
After various acquisitions and mergers, the recent one was in2010, the acquisition of Smith International in an all-stock deal valued at $11.3 billion was announced.
The deal was the biggest acquisition in Schlumberger