History of Schlumberger in Timeline

Schlumberger, now known as SLB, is a multinational oilfield services company founded in France in 1926 and currently incorporated in Curaçao with executive offices in Houston, Texas. It stands as the world's largest offshore drilling company and contractor by revenue (as of 2022). SLB provides a range of services and technology to the oil and gas industry globally, focusing on reservoir characterization, drilling, production, and processing.

1926: Electric Prospecting Company Founded

In 1926, Schlumberger was founded as the Electric Prospecting Company in Paris by brothers Conrad and Marcel Schlumberger.

1926: Schlumberger Founded

In 1926, Schlumberger was founded in France.

1927: First Electrical Resistivity Well Log

In 1927, Schlumberger recorded the first-ever electrical resistivity well log in Merkwiller-Pechelbronn, France.

1929: First U.S. Well Logged

In 1929, Schlumberger logged its first well in the U.S. in Kern County, California.

1934: Schlumberger Well Surveying Corporation Founded

In 1934, the Schlumberger Well Surveying Corporation was founded in Houston, evolving into Schlumberger Well Services, and finally Schlumberger Wireline and Testing.

1948: Schlumberger-Doll Research Center Inaugurated

In 1948, the Schlumberger-Doll Research Center was inaugurated in Ridgefield, Connecticut, contributing to the development of new logging tools.

1956: Schlumberger Limited Incorporated

In 1956, Schlumberger Limited was incorporated as a holding company for all Schlumberger businesses, including American testing and production company Johnston Testers.

1960: Dowell Schlumberger Formed

In 1960, Dowell Schlumberger, a joint venture specializing in pumping services for the oil industry, was formed (50% Schlumberger, 50% Dow Chemical).

February 2, 1962: Listed on New York Stock Exchange

On February 2, 1962, Schlumberger Limited was listed on the New York Stock Exchange.

1964: Acquisition of Forex and Creation of Neptune Drilling Company

In 1964, Schlumberger purchased 50% of Forex and merged it with 50% of Languedocienne to create the Neptune Drilling Company.

1970: Introduction of SARABAND

In 1970, the first computerized reservoir analysis software, SARABAND, was introduced.

1971: Sale of Daystrom division

In 1971, the Daystrom division of electronic instruments manufacturer was sold to Sperry & Hutchinson.

1979: Acquisition of Fairchild Camera and Instrument

In 1979, Fairchild Camera and Instrument (including Fairchild Semiconductor) became a subsidiary of Schlumberger Limited.

1979: Acquisition of Fairchild Semiconductor

In 1979, Fairchild Semiconductor became a subsidiary.

1981: First International Data Links with E-mail

In 1981, Schlumberger established the first international data links with e-mail.

1983: Cambridge Research Center Opened

In 1983, Schlumberger opened its Cambridge Research Center in Cambridge, England.

1984: Creation of Anadrill and Merger with SEDCO

In 1984, Schlumberger acquired the SEDCO drilling rig company and half of Dowell of North America, resulting in the creation of the Anadrill drilling segment. Forex Neptune was merged with SEDCO to create the Sedco Forex Drilling Company.

1987: Acquisitions and Sale of Fairchild Semiconductor

In 1987, Schlumberger completed its purchases of Neptune (North America), Bosco and Cori (Italy), and Allmess (Germany). Also in 1987, National Semiconductor acquired Fairchild Semiconductor from Schlumberger for $122 million.

1991: Acquisition of PRAKLA-SEISMOS and Pioneering of Geosteering

In 1991, Schlumberger acquired PRAKLA-SEISMOS and pioneered the use of geosteering to plan the drill path in horizontal wells.

1992: Acquisition of GeoQuest Systems

In 1992, Schlumberger acquired software company GeoQuest Systems, leading to the conversion of SINet to TCP/IP and internet capability.

1994: Antitrust Consent Decree

In 1994, an antitrust consent decree barred Smith from selling or combining their fluids business with certain other companies, including Schlumberger.

1995: Office Relocation to Sugar Land

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

1999: Creation of M-I L.L.C. and Subsequent Legal Issues

In 1999, Schlumberger and Smith International created a joint venture, M-I L.L.C., the world's largest drilling fluids company. However, this led to criminal contempt charges due to a 1994 antitrust consent decree, resulting in fines and profit disgorgement.

2000: Forbes Global Ranking

In 2000, Forbes Global ranked companies.

2000: Merger of Geco-Prakla and Spin-off of Sedco Forex

In 2000, the Geco-Prakla division was merged with Western Geophysical to create WesternGeco, with Schlumberger holding a 70% stake. Sedco Forex was spun off and merged with Transocean Drilling company.

2001: Acquisition of Sema plc

In 2001, Schlumberger acquired the IT consultancy company Sema plc for $5.2 billion, later divesting it to Atos Origin.

2003: Spin-off of Automated Test Equipment Group

In 2003, the Automated Test Equipment group, acquired in 1979 from Fairchild Semiconductor, was spun off to NPTest Holding.

February 2004: Sale of NPTest Holding to Credence

In February 2004, NPTest Holding, which was spun off from the Automated Test Equipment group in 2003, was sold to Credence.

2004: Launch of Schlumberger Business Consulting

In 2004, Schlumberger Business Consulting was launched, later acquired by Accenture.

2005: Acquisition of Waterloo Hydrogeologic and Relocation of U.S. Offices

In 2005, Schlumberger purchased Waterloo Hydrogeologic and relocated its U.S. corporate offices from New York to Houston.

2006: Relocation of the Head Office to Houston

By 2006, Schlumberger was moving its head office, which had 50 executives and support staff, to a building near the Houston Galleria.

2006: Purchase of WesternGeco and Relocation of Research Center

In 2006, Schlumberger purchased the remaining 30% of WesternGeco from Baker Hughes. The Schlumberger-Doll Research Center was relocated to Cambridge, Massachusetts.

2006: $11.8 Million Agreement for PCB Release

In 2006, Schlumberger, as the current owner of a facility in Pickens, South Carolina, agreed to pay $11.8 million to federal and state agencies due to polychlorinated biphenyls (PCB) released into the environment by the previous owner, Sangamo-Weston, from 1955 to 1987.

2006: Radioactive Canister Lost in Australian Outback

In 2006, a radioactive canister imported by Schlumberger was lost in the Western Australian outback desert after falling off a transport trailer due to improper securing by the company's transport partner.

February 2009: Fine for Hydrochloric Acid Spill

In February 2009, the Pennsylvania Department of Environmental Protection fined Chesapeake Appalachia LLC and Schlumberger Technology Corp. more than $15,500 each for a hydrochloric acid spill at Chesapeake's Chancellor natural gas well site in Asylum Township, Bradford County, Pennsylvania. Officials stated that the leak did not contaminate groundwater.

2009: Acquisition of Techsia SA

In 2009, Schlumberger acquired Techsia SA, a software company with a product called Techlog used in the oil industry.

February 2010: Announcement of Smith International Acquisition

In February 2010, Schlumberger announced the acquisition of Smith International in an all-stock deal valued at $11.3 billion.

August 27, 2010: Completion of Smith International Acquisition

On August 27, 2010, the merger with Smith International was completed.

2010: Fine for Losing Radioactive Source on Rig Floor

In 2010, Schlumberger Oilfield UK was fined £300,000 by the Aberdeen Sheriff court for losing a radioactive source on the rig floor of the Ensco 101 mobile drilling rig in the North Sea for 4 hours.

2010: Contracted for Wireline Logging on Deepwater Horizon

In 2010, Schlumberger was contracted to perform wireline logging on the Deepwater Horizon oil rig in the Gulf of Mexico. On the day of the explosion, Schlumberger crew was released by BP and a cement evaluation test was cancelled.

2014: Purchase of Remaining Shares of SES Holdings Limited

In 2014, Schlumberger announced the purchase of the remaining shares of SES Holdings Limited (Saxon), a Calgary-based provider of international land drilling services.

2015: Agreement to Acquire Cameron International

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

2015: U.S. Corporate Headquarters moving to Sugar Land Facility

In 2015, Schlumberger announced that it was moving its U.S. corporate headquarters to the Sugar Land facility from its Houston office building.

2015: Guilty Plea for Sanctions Violations

In 2015, Schlumberger pled guilty to violating U.S. sanctions related to Iran and Sudan and agreed to pay a $237 million penalty.

2015: Layoffs Due to Downturn

In 2015, due to a downturn in the global oil and gas industry, Schlumberger announced 21,000 layoffs, which accounted for 15% of the company's total workforce.

2017: Schlumberger as Third Largest Employer in Sugar Land

As of 2017, Schlumberger is the third largest employer in Sugar Land, Texas.

2018: Exit from Seismic Data Acquisition Business

In 2018, Schlumberger announced that WesternGeco would be exiting the seismic data acquisition business, retaining its multiclient data processing and interpretation segments.

2018: Pay-Gap Report Released

In 2018, Schlumberger's pay-gap report revealed a significant gender disparity, with women composing only 5.4% of field roles and 16.2% of roles in the full company.

2020: Job Cuts During COVID-19 Pandemic

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

2020: Class Action Lawsuit Filed

In 2020, a class action lawsuit was filed against Schlumberger, alleging a culture of sexual harassment, discrimination, and retaliation. The lawsuit highlights instances of harassment and a hostile work environment.

2021: Pilot Project Agreements for Clean Hydrogen Production

In 2021, Schlumberger New Energy announced pilot project agreements to scale up electrolyzer technology for clean hydrogen production, aiming to decarbonize industrial sectors.

March 2022: Suspension of investments in Russia

In March 2022, Schlumberger stopped investing in its projects in Russia due to International sanctions during the Russo-Ukrainian War.

August 2022: Joint Venture with AkerSolutions and Subsea7

In August 2022, SLB announced that SLB OneSubsea was entering a joint venture with AkerSolutions and Subsea7, with Schlumberger owning 70%.

October 2022: Russian Employees Receive Military Draft Notices

In October 2022, it was reported that some of Schlumberger's more than 9,000 Russian employees based in Russia received military draft notices through the company. Human rights groups are monitoring the company's response, and Schlumberger announced it was evaluating options for its Russian employees.

2022: Largest Offshore Drilling Company

As of 2022, Schlumberger is the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.

2022: Corporate Rebranding to SLB

In 2022, Schlumberger completed a corporate rebranding to be known as SLB.

2022: Forbes Global Ranking

In 2022, Schlumberger was ranked as the 349th largest company in the world by Forbes Global 2000.

February 2023: Acquisition of Gyrodata Incorporated

In February 2023, SLB completed the acquisition of Gyrodata Incorporated, a wellbore positioning and survey technology company.

March 2024: Reported Intentions to Remain in Russia

In March 2024, it was reported that SLB (Schlumberger) has no intentions of withdrawing from Russia, despite western pressure to reduce financial support to the Kremlin’s war efforts.