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Fly News Breaks for January 21, 2020
SLB
Jan 21, 2020 | 08:35 EDT
Morgan Stanley analyst Connor Lynagh noted that Schlumberger confirmed that offshore activity will prove to be a tailwind to revenue and product mix in 2020-21, gave some confirmation that international OFS players' discipline is improving, pointed to more concrete plans to scale back North American operations, and continued confirm the sustainability of its dividend with its Q4 earnings beat. Though the company did not explicitly give EPS guidance, he estimates that commentary suggests a "reasonable range" of $1.55-$1.80 in 2020 EPS, added Lynagh, who is starting at the low end of that full-year range "out of our own desire to be conservative." He maintains an Overweight rating on Schlumberger shares with a $50 price target.
News For SLB From the Last 2 Days
SLB
Mar 27, 2024 | 19:34 EDT
SLB "announced an agreement to combine its carbon capture business with Aker Carbon Capture to support accelerated industrial decarbonization at scale. Bringing together complementary technology portfolios, leading process design expertise and an established project delivery platform, the combination will leverage ACC's commercial carbon capture product offering and SLB's new technology developments and industrialization capability. It will create a vehicle for accelerating the introduction of disruptive early-stage technology into the global market on a commercial, proven platform. Following the transaction, SLB will own 80% of the combined business and ACC will own 20%. The International Energy Agency (IEA) sees carbon capture, utilization, and sequestration playing a critical role in the net-zero transition-estimating that over one gigaton of CO2 per year will need to be captured by 2030, scaling up to over six gigatons by 2050. SLB will pay NOK 4.12 billion to purchase 80% of Aker Carbon Capture Holding AS, which holds the business of ACC, and will contribute the SLB carbon capture business to the combined entity. SLB may also make additional payments of up to NOK 1.36 billion over the next three years based on the performance of the business. The transaction is subject to regulatory approvals and is expected to close by the end of the second quarter, 2024."