Full History Of Schlumberger In Timeline From 1926

1926: The Birth of Schlumberger: Pioneering Electrical Prospecting

Conrad and Marcel Schlumberger established the Electric Prospecting Company in Paris in 1926, marking the inception of Schlumberger and its innovative journey in the oilfield services industry.

1927: A Landmark Achievement: Schlumberger Records the First Electrical Resistivity Well Log

Revolutionizing well exploration, Schlumberger conducted the first-ever electrical resistivity well log in Merkwiller-Pechelbronn, France, in 1927, pioneering a groundbreaking technique in the industry.

1929: Schlumberger Expands to the U.S. Market

Expanding its global footprint, Schlumberger logged its first well in the United States in 1929, marking its entry into the lucrative U.S. oil and gas industry.

1934: Establishing Schlumberger Well Surveying Corporation: A Foundation for Future Growth

The establishment of Schlumberger Well Surveying Corporation in Houston in 1934 signified the company's growing presence in the U.S. and its commitment to expanding its well services.

1948: Schlumberger-Doll Research Center: A Hub for Innovation

Underscoring its dedication to research and development, Schlumberger inaugurated the Schlumberger-Doll Research Center in Ridgefield, Connecticut, in 1948, fostering groundbreaking advancements in logging tools.

1955: Sangamo-Weston Begins PCB Release at Pickens Facility

Sangamo-Weston, a capacitor manufacturing plant and former owner of a facility in Pickens, South Carolina, started releasing polychlorinated biphenyls (PCBs) into the environment in 1955. This continued until 1987, creating an environmental issue that Schlumberger later addressed in 2006.

1956: Formation of Schlumberger Limited: Consolidating Global Operations

The incorporation of Schlumberger Limited in 1956 as a holding company streamlined its diverse businesses, including the acquisition of Johnston Testers, solidifying its position in the industry.

1960: Formation of Dowell Schlumberger: Expanding into Pumping Services

In 1960, Schlumberger partnered with Dow Chemical to establish Dowell Schlumberger, specializing in pumping services, broadening its portfolio and expertise in the oil industry.

February 2, 1962: Schlumberger Goes Public: Listing on the New York Stock Exchange

On February 2, 1962, Schlumberger Limited marked a significant milestone by going public and listing on the New York Stock Exchange, reflecting its growth and attracting potential investors.

1964: Establishing a Foothold in Drilling: The Creation of Neptune Drilling Company

Demonstrating its expansion strategy, Schlumberger purchased a 50% stake in Forex in 1964 and merged it with Languedocienne, forming the Neptune Drilling Company, a stepping stone into the drilling sector.

1970: Schlumberger Introduces SARABAND: Revolutionizing Reservoir Analysis

In 1970, Schlumberger launched SARABAND, the first computerized reservoir analysis system, showcasing its commitment to technological advancements and providing cutting-edge solutions to the industry.

1971: Schlumberger Divests Daystrom's Furniture Division

After acquiring electronic instruments manufacturer Daystrom in 1962, Schlumberger decided to sell its furniture division to Sperry & Hutchinson in 1971, strategically focusing on its core competencies.

1979: Schlumberger Acquires Fairchild Camera and Instrument

Schlumberger's acquisition of Fairchild Camera and Instrument, including Fairchild Semiconductor, in 1979 highlighted its strategic expansion into new technological domains and broadened its product offerings.

1979: Schlumberger's Acquisition of Fairchild Semiconductor: Long-Term Implications

While the Automated Test Equipment group, part of the 1979 Fairchild Semiconductor acquisition, was divested in 2003, the acquisition itself had long-term implications for Schlumberger's technological advancements.

1981: Schlumberger Pioneers International Data Links with Email

In 1981, Schlumberger embraced digital innovation by establishing the first international data links with email, demonstrating its early adoption of communication technologies to enhance global operations.

1983: Schlumberger Opens Cambridge Research Center: Expanding Global R&D Capabilities

The inauguration of Schlumberger's Cambridge Research Center in England in 1983 underscored its commitment to global research and development, attracting top talent and fostering innovation in key areas.

1984: Schlumberger Creates Anadrill Drilling Segment: Merging Expertise for Enhanced Services

In 1984, Schlumberger acquired SEDCO drilling rig company and a 50% stake in Dowell of North America, leading to the creation of the Anadrill drilling segment, combining expertise and expanding its drilling services.

1987: Sangamo-Weston Ends PCB Release at Pickens Facility

In 1987, Sangamo-Weston, a capacitor manufacturing plant and the former owner of a facility in Pickens, South Carolina, ceased the release of polychlorinated biphenyls (PCBs) into the environment after 32 years. However, the PCBs had already caused contamination, which Schlumberger, the subsequent owner, addressed in 2006.

1987: Schlumberger Expands European Presence with Strategic Acquisitions

In 1987, Schlumberger strategically strengthened its European presence by acquiring Neptune (North America), Bosco and Cori (Italy), and Allmess (Germany), expanding its market reach and service portfolio.

1991: Schlumberger Acquires PRAKLA-SEISMOS: Expanding into Seismic Surveying

Schlumberger's acquisition of PRAKLA-SEISMOS in 1991 marked a strategic move into the seismic surveying domain, broadening its geophysical service offerings and strengthening its position in the industry.

1992: Schlumberger Acquires GeoQuest Systems: Embracing Software Solutions

The acquisition of software company GeoQuest Systems in 1992 highlighted Schlumberger's forward-thinking approach by integrating software solutions into its portfolio, paving the way for enhanced data analysis and reservoir management.

1994: Schlumberger and Smith International Face Antitrust Scrutiny

A 1994 antitrust consent decree prohibited Smith International from combining its fluids business with certain companies, including Schlumberger. This event foreshadowed the legal challenges the companies would face later.

1995: Schlumberger Moves Houston-Area Offices to Sugar Land

In 1995, Schlumberger relocated its Houston-area offices from 5000 Gulf Freeway in Houston to the Sugar Land campus.

1999: Schlumberger and Smith International Form M-I L.L.C.: A Drilling Fluids Powerhouse

In 1999, Schlumberger and Smith International established M-I L.L.C., a joint venture creating the world's largest drilling fluids company, leveraging their combined expertise to dominate the market.

2000: Schlumberger Creates WesternGeco: Merging Seismic Expertise

Schlumberger merged its Geco-Prakla division with Western Geophysical in 2000, forming WesternGeco, a leading seismic data acquisition and processing company, further solidifying Schlumberger's dominance in geophysical services.

2000: Schlumberger's Presence on the Forbes Global 2000

While the exact ranking for 2000 isn't provided, Schlumberger's inclusion in the Forbes Global 2000 suggests it was a significant global company in 2000.

2001: Schlumberger Acquires and Divests Sema plc: A Foray into IT Consulting

Schlumberger's acquisition of Sema plc for $5.2 billion in 2001 marked its entry into IT consulting. However, the venture proved unsuccessful, leading to its divestiture to Atos Origin for $1.5 billion later that year.

2003: Schlumberger Divests Messaging Solutions Unit

In 2003, Schlumberger further streamlined its operations by spinning off its Messaging Solutions unit, which subsequently merged with Taral Networks to form Airwide Solutions.

February 2004: Schlumberger Divests Automated Test Equipment Group

Continuing its strategic divestitures, Schlumberger spun off its Automated Test Equipment group in 2003, which was later sold to Credence in February 2004, allowing the company to focus on its core oilfield services.

2004: Schlumberger Launches Business Consulting Arm

In 2004, Schlumberger expanded its services by establishing Schlumberger Business Consulting, venturing into the consulting realm to provide specialized expertise to clients in the energy industry.

2005: Schlumberger Acquires Waterloo Hydrogeologic: Entering the Groundwater Market

Marking its entry into the groundwater market, Schlumberger acquired Waterloo Hydrogeologic in 2005, followed by other related companies like Westbay Instruments and Van Essen Instruments, diversifying its portfolio.

2006: Schlumberger Radioactive Canister Recovered in Western Australia

A radioactive canister imported by Schlumberger was found in the Western Australian outback desert in 2006 after it had gone missing. The canister had been lost by Schlumberger's transport partner when it fell off the trailer during transport due to improper securement.

2006: Schlumberger Relocates Head Office to Houston

By 2006, Schlumberger had 50 executives and support staff at its head office in New York City. That year, the company made the decision to relocate this office to a building near the Houston Galleria.

2006: Schlumberger Pays $11.8 Million for Environmental Issue at Pickens Facility

In 2006, Schlumberger agreed to pay $11.8 million to federal and state agencies to resolve an environmental issue at a facility it owned in Pickens, South Carolina. The problem was caused by the previous owner, Sangamo-Weston, a capacitor manufacturing plant, which had released polychlorinated biphenyls (PCBs) into the environment between 1955 and 1987. As part of the agreement, Schlumberger also agreed to purchase and remove dams to improve the Twelvemile Creek ecosystem and benefit the affected communities.

2006: Schlumberger Gains Full Control of WesternGeco: Consolidating Seismic Capabilities

Schlumberger acquired the remaining 30% stake in WesternGeco from Baker Hughes for US$2.4 billion in 2006, solidifying its complete control over the seismic company and reinforcing its leadership in geophysical services.

February 2009: Schlumberger and Chesapeake Appalachia Fined for Hydrochloric Acid Spill

The Pennsylvania Department of Environmental Protection fined Chesapeake Appalachia LLC and Schlumberger Technology Corp. over $15,500 each in February 2009. The fine was issued in response to a hydrochloric acid spill that occurred at Chesapeake's Chancellor natural gas well site in Asylum Township, Bradford County, Pennsylvania. Fortunately, officials reported that the leak did not result in groundwater contamination.

2009: Schlumberger Ranked 118th on Newsweek's "Green Rankings"

In 2009, Newsweek published their "Green Rankings," which evaluated the environmental track records of the 500 largest corporations. Schlumberger was ranked 118th overall and 3rd out of 31 companies in its industry. Newsweek highlighted Schlumberger's investments in carbon sequestration to combat global warming and noted the company's efforts to improve the fuel efficiency of its seismic survey ships.

2009: Schlumberger Acquires Techsia SA

In 2009, Schlumberger acquired Techsia SA, a Montpellier, France-based supplier of petrophysical software known for its Techlog© product. The acquisition led to the establishment of the Schlumberger Petrophysics Software Center of Excellence in Montpellier.

February 2010: Schlumberger Announces Acquisition of Smith International

In February 2010, Schlumberger announced its plan to acquire Smith International in an all-stock deal valued at $11.3 billion, a 37.5% premium on Smith's closing price on February 18, 2010. They also announced plans to acquire Geoservices, a French energy services company, for $1.1 billion.

August 27, 2010: Schlumberger Completes Smith International Acquisition

On August 27, 2010, Schlumberger finalized the acquisition of Smith International, marking the completion of their all-stock deal valued at $11.3 billion, announced earlier in February 2010. This was Schlumberger's largest acquisition at the time.

2010: Schlumberger's Role on the Deepwater Horizon Oil Rig

Schlumberger was contracted to perform wireline logging on BP's Deepwater Horizon oil rig in the Gulf of Mexico in 2010. A Schlumberger crew was scheduled to perform a cement evaluation test on the day of the rig's explosion, but BP canceled the test, and the crew was released. The cost-cutting decision to cancel the test was later featured in the film about the disaster.

2010: Schlumberger Fined for Radioactive Source Loss in North Sea

The Aberdeen Sheriff court imposed a £300,000 fine on Schlumberger Oilfield UK in 2010 for a radioactive source that went missing for four hours on the Ensco 101 mobile drilling rig in the North Sea.

2014: Schlumberger Acquires Remaining Shares of SES Holdings Limited

In 2014, Schlumberger acquired the remaining shares of SES Holdings Limited ("Saxon"), an international land drilling services provider based in Calgary, from First Reserve and Saxon management. Schlumberger had previously held a minority stake in Saxon.

2015: Schlumberger Pleads Guilty to Violating U.S. Sanctions

In 2015, Schlumberger admitted guilt in violating U.S. sanctions related to its operations in Iran and Sudan, resulting in a $237 million penalty.

2015: Schlumberger to Relocate U.S. Headquarters to Sugar Land

In 2015, Schlumberger revealed its plan to relocate its U.S. corporate headquarters from its Houston office building to the Sugar Land, Texas facility.

2015: Schlumberger Announces Layoffs Due to Oil and Gas Downturn

In response to a global downturn in the oil and gas industry in 2015, Schlumberger announced the layoff of 21,000 employees, representing 15% of its workforce.

2015: Schlumberger to Acquire Cameron International

Schlumberger agreed to acquire Cameron International, an oilfield equipment manufacturer, for $14.8 billion in 2015.

2015: Schlumberger Indicted for Sanction Violations

The US Department of Justice indicted Schlumberger in 2015 for violating sanctions by conducting business in Iran and Sudan, resulting in a $233 million fine, the largest ever for sanctions violations at that time.

2017: Schlumberger to Complete New Buildings at Sugar Land Campus

Schlumberger, the third largest employer in Sugar Land, Texas as of 2017, planned to complete new buildings on their 33-acre campus by late 2017. The new construction included 250,000 square feet of Class A office space and a 100,000 square foot amenities building.

2018: WesternGeco Exits Seismic Data Acquisition Business

Schlumberger announced in 2018 that its subsidiary, WesternGeco, would exit the seismic data acquisition business, both onshore and offshore, but would maintain its multiclient data processing and interpretation segments. The decision followed the bankruptcy of several competitors in the seismic services industry.

2018: Schlumberger's 2018 Pay-Gap Report Reveals Gender Imbalance

Schlumberger's 2018 pay-gap report indicated a significant gender imbalance within the company, with women occupying a small percentage of field and overall roles. This data point highlighted concerns about potential gender disparities within the company.

2020: Schlumberger Cuts Over 21,000 Jobs During COVID-19 Pandemic

In 2020, Schlumberger cut more than 21,000 jobs in response to the global COVID-19 pandemic.

2020: Class Action Lawsuit Filed Against Schlumberger Alleging Toxic Workplace Culture

In 2020, Schlumberger faced a class action lawsuit alleging a culture of sexual harassment, discrimination, and retaliation against women. The lawsuit cited instances of harassment, inappropriate behavior, and retaliation against women who reported these issues.

2021: Schlumberger New Energy Signs Pilot Project Agreements for Clean Hydrogen Production

Schlumberger New Energy signed pilot project agreements in 2021 with the French state, Genvia, and industry leaders to develop clean hydrogen production for the cement and steel industries using next-generation electrolyzer technology, aiming to reduce CO2 emissions.

March 2022: Schlumberger Suspends Russian Investments Due to Geopolitical Crisis

Responding to the international sanctions imposed on Russia due to the Russo-Ukrainian War, Schlumberger announced the suspension of its investments in Russian projects in March 2022.

October 2022: Schlumberger Evaluates Options for Russian Employees Amidst Military Draft Notices

In October 2022, Schlumberger faced scrutiny when its Russian employees received military draft notices. The company's response and actions regarding its operations and employees in Russia were closely monitored by human rights groups and organizations.

2022: Schlumberger Ranks 349th on Forbes Global 2000 List

In 2022, Forbes Global 2000 recognized Schlumberger as a major player in the global market, placing it at the 349th position.

2022: Schlumberger: Leading the Offshore Drilling Industry

In 2022, Schlumberger solidified its position as the world's top offshore drilling company and contractor by revenue, reflecting its dominance in the sector.

2022: Schlumberger Rebrands to SLB

In 2022, Schlumberger underwent a corporate rebranding and became SLB, although the CEO stated that it did not represent a move away from fossil fuels.

February 2023: SLB Acquires Gyrodata Incorporated

SLB announced in February 2023 that it had completed the acquisition of Gyrodata Incorporated, a Houston-based company specializing in gyroscopic wellbore positioning and survey technology.

March 2024: SLB Resists Pressure to Withdraw from Russia

In March 2024, SLB faced criticism for its decision to continue operating in Russia despite pressure from Western entities to reduce financial ties due to the ongoing conflict. The company's stance sparked debate about the responsibilities of multinational corporations during geopolitical crises.

April 2024: SLB Announces Intention to Acquire ChampionX

SLB announced its intention to acquire its smaller rival, ChampionX, in April 2024. The all-stock deal was valued at $7.75 billion, making it SLB's largest acquisition since Cameron International.

History of Schlumberger in Timeline