营收为 89.3 亿美元，环比增长 4%，同比下降 3%
GAAP 每股收益为 0.50 美元，环比下降 32%，同比下降 40%
不计费用和贷项的每股收益为 0.69 美元，环比下降 7%，同比下降 22%
归属于 SLB 的净利润为 7.39 亿美元，环比下降 27%，同比下降 38%
调整后 EBITDA 为 20.6 亿美元，环比持平，同比下降 12%
运营现金流为 16.8 亿美元，自由现金流为 11 亿美元，其中包括 1.53 亿美元的收购相关付款
董事会批准每股 0.285 美元的季度现金股息
原图 位于德克萨斯州休斯顿的 SLB 总部外景。
位于德克萨斯州休斯顿的 SLB 总部外景。

SLB于2025年第三季度收购了ChampionX。2025年第三季度业绩反映了收购的ChampionX业务两个月的业绩，这些业务贡献了5.79亿美元的收入、1.39亿美元的调整后息税折旧摊销前利润（EBITDA）和1.08亿美元的税前部门运营利润。剔除此次收购的影响，SLB 2025年第三季度全球收入环比下降2%，同比下降9%；国际业务收入环比下降1%，同比下降9%；北美业务收入环比下降7%，同比下降9%。

数字和生产系统2025年第三季度的业绩反映了ChampionX两个月的业绩，ChampionX贡献了2000万美元的数字业务收入和5.75亿美元的生产系统收入。剔除此次收购的影响，2025年第三季度的数字业务收入环比增长8%，同比持平；生产系统收入环比下降1%，同比下降5%。

从2025年第三季度开始，SLB开始将其数字业务作为一个独立部门进行报告，并将其资产绩效解决方案(APS)、数据中心解决方案和SLB Capturi业务归入“所有其他”类别。之前的财务数据已根据本期的列报方式进行调整。

第三季度的业绩符合我们的预期，我们的收入环比增长得益于ChampionX两个月的额外收入、数字业务的进一步增长以及核心业务的强劲表现。尽管石油市场供应充足、地缘政治环境不确定且大宗商品价格低迷，SLB 的收入仍有所增长。

“在此背景下，国际市场——尽管部分地区面临挑战——也展现出韧性，中东和亚洲多个国家继续保持强劲增长。展望未来，我们预计 OPEC+ 的增产将支持许多 SLB 业务已较为成熟的国家的投资，”SLB 首席执行官 Olivier Le Peuch 表示。

生产和采收业务与客户不断变化的优先事项相一致

。随着行业经济形势趋紧，客户越来越重视生产和采收解决方案，以尽可能低的成本释放增量油田，从而抵消产量下降的影响。与此同时，他们继续加快最关键的最终投资决定 (FID) 的实施，并执行正在进行的开发项目。LB

拥有差异化的机会来支持客户实现这一目标——利用我们的地下专业知识、生产技术、产品组合整合和数字/人工智能能力——为成熟资产释放新的价值，从而扩大我们的潜在市场。

“hampionX”增强了我们的产品组合，并凸显了我们在周期性较弱的生产市场中拓展影响力的价值。

我对我们在生产和采收市场中的地位充满信心，并期待着深化与客户的合作，以释放更多油田。 “我对将 ChampionX 团队整合到 SLB 所取得的进展感到非常兴奋，我感谢他们本季度的表现和贡献，”Le Peuch 说道。

数字化带来差异化增长和利润

——数字化持续变革着石油天然气行业，这也是我们近年来增长最快的业务。我们一直在推进油田数字化转型——从建模和规划到运营和自动化——我们深知数字化转型对于在勘探选择、油藏管理和油气开采领域实现最高水平的效率、安全性和可持续性至关重要。通过

利用软件、人工智能、数据分析、自动化和物联网，我们正在提升地球科学家和工程师的生产力，推动运营效率和安全性的显著提升，并支持我们的客户交付更优质的油井和更高产量的资产。因此，SLB 的数字解决方案对于我们的客户在创新、效率和人工智能部署方面保持领先地位至关重要。

我们首次将数字业务作为一个独立部门进行报告，并分享了 SLB 为客户提供解决方案的四个收入类别的详细信息：平台与应用、数字运营、数字勘探和专业服务。

“我们的数字业务实现了环比和同比增长。这项高利润率且不断增长的业务是我们真正的差异化优势，反映了我们在该领域的行业领导地位，”Le Peuch 表示。

国际市场将引领未来活动反弹

——展望未来，在石油产能持续投资、天然气扩建项目以及深水油田前景看好的情况下，当供需重新平衡时，国际市场更有可能引领活动反弹。SLB 已做好准备，从这种复苏中获益。

Le Peuch 总结道：“短期内，我们预计第四季度收入将增长，这得益于国际市场、数字业务以及收购的 ChampionX 业务整整一个季度的活动。”

其他事件

本季度，SLB 回购了 320 万股普通股，总购买价为 1.14 亿美元。2025 年前九个月，SLB 共回购了 6000 万股普通股，总购买价为 24.1 亿美元。2025

年 7 月 16 日，SLB 完成了对 ChampionX 的收购。合并后的产品组合、技术能力和数字领导力将使 SLB 能够为其客户和利益相关者创造价值，通过增加其在不断增长的生产和回收市场的曝光度，同时提供跨生产化学品和人工举升的最佳工作流程集成。

2025 年 10 月 16 日，SLB 董事会批准了每股 0.285 美元的季度现金股息，将于 2026 年 1 月 8 日支付给 2025 年 12 月 3 日登记在册的股东。

第三季度按地理区域划分的收入

第三季度收入 89.3 亿美元，环比增长 4%，其中国际收入增长 1%，北美收入增长 17%。这反映了收购的 ChampionX 业务两个月的活动，这些业务贡献了 5.79 亿美元的收入，其中北美 3.87 亿美元，国际市场 1.71 亿美元。不包括此次收购的影响，2025 年第三季度国际收入下降 1%，北美 2025 年第三季度收入环比下降 7%。由于厄瓜多尔 APS 项目生产中断，国际收入略有下降，北美收入下降是由于加拿大 APS 项目的剥离。 拉丁美洲

国际业务预估收入为15.1亿美元，环比下降4%。圭亚那海上钻井活动的增加，被厄瓜多尔管道中断导致生产中断以及阿根廷钻井和压裂活动减少导致的APS收入下降所抵消。 预估收入同比下降14%，主要原因是墨西哥陆地钻井活动大幅减少以及厄瓜多尔APS收入下降。





欧洲和非洲的备考收入为 24.6 亿美元，与上一季度持平，撒哈拉以南非洲和斯堪的纳维亚半岛近海活动的改善被欧洲和北非活动的减少所抵消。

与去年同期相比，备考收入下降 3%，因为北非、欧洲和阿塞拜疆的强劲活动被安哥拉、中非和东非近海深水活动的减少所抵消。

中东和亚洲的备考收入为 30.3 亿美元，比上一季度下降 1%，因为伊拉克、阿曼、阿拉伯联合酋长国、埃及、印度、东亚、印度尼西亚、中国和澳大利亚的强劲活动被沙特阿拉伯活动的减少所抵消。

与去年同期相比，备考收入下降 11%，因为阿拉伯联合酋长国、伊拉克、科威特、阿曼和中国的收入增加被沙特阿拉伯活动的大幅减少所抵消。澳大利亚和东亚也出现下降。

北美

北美的备考收入为 21.3 亿美元，比上一季度下降 4%。下降的原因是，在剥离加拿大 Palliser 项目的权益后，没有了 9,700 万美元的 APS 收入，再加上钻机数量减少导致美国陆地活动减少。这些下降被海上数字勘探的增加和数据中心解决方案收入的增加部分抵消。

与去年同期相比，备考收入下降 5%，原因是剥离加拿大 APS 项目，加上美国陆地钻井活动的急剧下降，但被数据中心解决方案的增长部分抵消。2025

年第三季度的数字业绩包括 ChampionX 两个月的活动，它贡献了 2,000 万美元的数字收入。6.58

亿美元的数字收入环比增长 11%，这得益于数字运营收入的强劲增长（反映了 ChampionX 的影响）以及有机增长、数字勘探收入的强劲增长以及平台与应用程序收入的增加。

数字业务收入同比增长3%，这得益于数字运营收入的强劲增长，反映了有机增长、ChampionX 的影响以及平台与应用收入的增长，但部分被数字探索收入的下降所抵消。

截至2025年9月30日，数字部门的年度经常性收入 (ARR) 为9.26亿美元，而去年同期为8.69亿美元。

数字业务税前营业利润率为28%，环比增长250个基点。盈利能力的提升得益于强劲的数字探索活动、数字运营收入的强劲增长以及平台与应用收入的增长。

与去年同期相比，税前营业利润率下降了 135 个基点，原因是数字勘探收入大幅下降，但数字运营和平台与应用盈利能力的提高部分弥补了这一损失。

有关数字部门收入类别的描述，请参阅“补充信息”部分（问题 11）。有关数字部门 2025 年前九个月和 2024 年前九个月的收入、税前营业利润和调整后 EBITDA，请参阅问题 12。有关 ARR 的定义，请参阅问题 13。

油藏绩效收入为 16.8 亿美元，环比下降 1%，因为欧洲和非洲活动的增加被中东和亚洲收入的下降所抵消，中东和亚洲收入的下降主要由于沙特阿拉伯的干预和增产活动减少。

与去年同期相比，收入下降了 8%，主要由于沙特阿拉伯和墨西哥的活动减少。阿根廷、阿拉伯联合酋长国、科威特和卡塔尔的强劲活动部分弥补了这些下降。

油藏表现税前运营利润率为 19%，环比基本持平，同比下降 159 个基点，原因是评估和干预业务的盈利能力下降。

油井建设
油井建设营收 29.7 亿美元，环比持平。圭亚那近海和北美营收增加，加上伊拉克、阿曼和亚洲陆地活动的增加，被沙特阿拉伯、阿根廷、卡塔尔和阿联酋钻井活动的减少所抵消。

同比而言，营收下降 10%，原因是墨西哥、沙特阿拉伯、纳米比亚、北美和亚洲的钻井活动普遍减少。阿联酋、圭亚那、北非、伊拉克和科威特的强劲表现部分抵消了这些下降。

油井建设税前运营利润率为 19%，环比增长 22 个基点，但同比下降 273 个基点。利润率同比压缩源于北美和多个国际市场活动普遍减少。

生产系统部门报告营收为34.7亿美元，环比增长18%，同比增长14%，这反映了收购的ChampionX生产化学品和人工举升业务两个月的活跃表现，这些业务贡献了5.75亿美元的营收和1.06亿美元的税前营业利润。剔除此次收购的影响，生产系统部门2025年第三季度营收环比下降1%，同比下降5%。

生产系统税前营业利润率为 16%，环比下降 66 个基点，同比下降 98 个基点。利润率环比下降主要由于完井业务地域分布不均以及海底利润率下降。同比下降主要由于地域分布不均，主要影响了地面生产系统和完井业务。这些下降被 ChampionX 的利润率增长贡献部分抵消。

下表和注释均按备考基础呈现，假设 ChampionX 于 2024 年 1 月 1 日被收购。

生产系统备考收入为 37.7 亿美元，环比持平。阀门和生产化学品销售额的增长被完井销售额的下降所抵消。

备考收入同比下降 3%，原因是海底生产系统、完井和地面生产系统的销售额下降，但被人工举升和生产化学品销售额的增长部分抵消。

所有其他

从 2025 年第三季度开始，SLB 开始将其 APS、数据中心解决方案和 SLB Capturi 归入所有其他类别。前期已重述以符合本期呈现方式。

3.97 亿美元的收入环比下降 32%，同比下降 28%，原因是剥离加拿大 Palliser 资产权益后 APS 收入减少，以及厄瓜多尔管道中断导致生产中断整整一个月。这些收入的下降被更高的数据中心解决方案收入部分抵消，数据中心解决方案收入环比增长 26%，同比增长 98%。

9600 万美元的税前营业收入环比和同比均下降，原因是剥离加拿大 APS 项目和厄瓜多尔生产中断后 APS 收入减少。

季度亮点

核心

合同授予

SLB 继续赢得与 SLB 在核心领域的优势相符的新合同授予。值得关注的亮点包括：

在巴西近海，SLB公司获得巴西石油公司（Petrobras）的一项重要合同，为具有重要战略意义的桑托斯盆地多达35口超深水井提供服务和技术。作为项目的一部分，SLB将部署先进的电动完井技术和数字化解决方案，以提供精准、实时的生产情报和改进的油藏管理，从而以最佳方式开采这些宝贵且难以开采的资源。

在挪威近海，SLB OneSubsea™ 赢得了Equinor授予的一份工程、采购和施工 (EPC) 合同，将在Fram S®r油田建造一套包含12口井的全电动海底生产系统。此次合同签订之前，Equinor和SLB OneSubsea进行了为期一年的合作前端工程设计阶段，共同完善了项目，最终确定了开发方案和最终投资决定 (FID)。作为最终EPC合同的一部分，SLB OneSubsea将交付四个海底基盘和12个全电动海底采油树，从而无需由主平台供应液压油，并将顶部模块改造降至最低。

在乌兹别克斯坦，复兴发展基金下属的项目办公室Yangi Kon授予SLB一份一体化油井建造合同。该项目包括钻探该国最深的高压高温井，目标在2025年第四季度达到7500米的总深度。SLB将提供钻机并提供关键服务，包括定向钻井、随钻测井、电缆测井和测试、固井、钻井液和完井液以及井口。该项目还涵盖所有必要的基础设施，例如进场道路和水井。在哥伦比亚

，SLB通过近期收购的ChampionX获得了哥伦比亚国家石油公司（Ecopetrol）的六年期合同，将部署Oil Lift™技术。根据该协议，SLB将成为螺杆泵、驱动头和抽油杆锁的首选供应商。该合同体现了SLB人工举升解决方案的卓越品质和可靠性，这也是SLB赢得哥伦比亚国家石油公司信任的关键因素。该合同巩固了SLB与关键运营商在该地区的领先地位，并为部署其他技术以支持哥伦比亚国家石油公司的长期生产目标开辟了道路。

在印度，SLB通过近期收购的ChampionX获得了Essar的采购订单，为其供应100台Oil Lift螺杆泵。该订单彰显了SLB提供可靠、高质量人工举升解决方案的能力，这些解决方案既满足技术要求，又满足商业预期。

技术与创新

本季度值得关注的技术引进和部署包括：

SLB宣布已达成最终协议，收购全球领先的无线油藏监测解决方案供应商RESMAN Energy Technology。RESMAN先进的化学示踪剂在追踪油藏和油井内的水、气、油和二氧化碳运动方面拥有无与伦比的精度和准确度，为优化生产和采收率提供关键洞察。RESMAN先进的示踪剂技术使作业者能够不间断地监测油藏流量，并在万亿分之一的检测水平上提供无与伦比的精度。这些洞察对于油气、二氧化碳封存和地热应用领域的油井性能和油藏监测至关重要，有助于作业者提高产量和采收率。SLB

推出了OnWave™自主测井平台，该平台能够在任何井况下更高效、更可靠地采集地层评估测量数据。这项首创的技术无需有线设备和电缆，即可在井下自主采集多个高保真测量数据。 OnWave 平台的无电缆设计使部署时间不到传统电缆平台的一半，同时还能在测井作业期间旋转钻杆和循环泥浆，从而提高井身安全性并最大程度地减少卡钻事件。

在挪威，SLB OneSubsea 海底压缩机系统最近在壳牌的 Ormen Lange 气田（挪威第二大气田）上线。这套 OneSubsea 压缩机系统将帮助 Ormen Lange 气田的运营商壳牌释放 300 亿至 500 亿立方米的额外天然气储量以出口到欧洲。Ormen Lange 三期项目创下了在海平面以下 900 多米水深安装海底压缩系统的最深纪录。天然气将被输送到 120 公里外的 Nyhamna 天然气厂，这又创下了最长海底步出纪录。

在阿曼，SLB 和阿曼石油开发公司 (PDO) 采用综合增产解决方案，提高了其在致密碎屑岩地层最长的水平井的产量。通过斜井探井器和工具滑行系统，ThruBit Dipole™ 声学服务部署和数据采集实现了精确的电缆测井，记录了目标储层剖面，从而提供关键的应力和地质力学数据。Now™ 加速响应产品与 Acoustics Now 相结合，实现了近乎实时的解释，从而优化了压裂阶段的设计。八个工程阶段（包括最后三个阶段的 BroadBand Sequence™ 压裂服务）实现了 100% 的定位，并比计划提前 26.5 天完井。消除了应急清理和重复压裂作业，预计节省了 50 吨二氧化碳当量和 4,500 桶水。PDO 计划在未来的油井中复制这一成功经验。

同样在阿曼，bp 和 SLB 在 61 区块气田的多个地层部署了 Hiway Flex™ 可定制流道压裂技术。该压裂技术专为容易发生脱砂的具有挑战性的环境而设计，提高了支撑剂的放置效率，无需备用连续油管装置。该部署显著降低了油井干预成本并提高了操作可靠性。早期回流和生产数据表明，储层接触面和裂缝导流能力增强，与使用传统方法的补偿井相比，处理后的井的天然气产量提高了 50% 以上。7 月

，SLB 和埃克森美孚圭亚那有限公司 (EMGL) 在圭亚那近海首次部署了 Ora™ 探头进行重点采样。Ora 平台在复杂环境中采集了未受污染的样品，将清理时间从平均 3 小时缩短到 1 小时以内，节省了钻机时间并降低了卡钻风险。 EMGL 还部署了 PressureXpress™ 油藏随测压力服务和 SLB 智能预测试数字解决方案，利用人工智能驱动的自动化将压力采集提高了 50%。这些组合解决方案节省了超过 10 小时的钻机时间，证明这些解决方案是该地区地层采样工作流程的宝贵选择。

数字

SLB 正在大规模部署数字技术，与客户合作，将他们的技术和工作流程迁移到云端，采用新的人工智能功能，并利用洞察来提升他们的性能。值得注意的亮点包括：

在阿布扎比，SLB 和 AIQ 将密切合作，推动 AIQ 继续开发其 ENERGYai 代理人工智能解决方案，并将其部署到 ADNOC 的地下作业中。ENERGYai 将大型语言模型 (LLM) 技术与尖端代理人工智能相结合，后者针对 ADNOC 上游价值链中的特定工作流程进行训练。 AIQ 和 SLB 将联合设计和部署 ADNOC 地下作业中的新代理 AI 工作流程，包括地质、地震勘探和油藏建模，并由 SLB 的 Lumi™ 数据和 AI 平台以及其他数字技术提供支持。

SLB 和全球领先的浮式生产储卸油 (FPSO) 解决方案提供商 SBM Offshore 宣布达成协议，建立独家数字联盟，以优化海上生产系统的性能。该联盟将 SLB 在地下、海底和水面生产和采收方面的数字和领域专业知识与 SBM Offshore 的数字和 FPSO 生命周期能力相结合。两家公司将利用各自的数字能力，创建一个由人工智能 (AI) 驱动的数字生态系统，以增强 FPSO 数字资产管理——提高正常运行时间性能并降低海上运营商的总体拥有成本。该数字生态系统将 SBM Offshore 的运营工作流程、数据和生命周期专业知识与 SLB 的数字技术（包括由 Cognite Data Fusion 支持的 OptiSite™ 解决方案）相结合，作为 SLB Lumi 数据和人工智能平台的一部分。SLB

收购了 Stimline Digital AS，这是一家领先的能源领域云软件公司，专注于油井干预。 Stimline Digital 的 IDEX™ 平台为作业者提供了强大的可视化画布和协作环境，以优化油井干预作业的规划和执行。将 IDEX 平台集成到 SLB 的数据环境中，将提供用于规划和建模的先进干预应用程序，使作业者能够创建智能的数据驱动工作流程，从而提高油井干预的一致性、效率和性能。

在安哥拉近海，SLB 和 TotalEnergies Angola 公司在 17/06 区块的深水钻井平台上部署了其首个自主钻井系统，从而提高了钻井速度，减少了下行链路，并在两个钻井段节省了 32 小时的潜在钻井时间。该系统将 DrillPlan™ 和 DrillOps™ 解决方案、Neuro™ 自主定向钻井和 Presspro RT™ 软件集成到一个连续反馈回路中，可根据条件变化自动推荐钻井参数。该系统改进了轨迹控制，并优化了起下钻、井眼清洁以及扭矩和阻力跟踪。凭借更快、更明智的决策和无缝的远程协作，此次作业为钻井效率和性能树立了新的标杆。

在挪威，SLB 获得了挪威国有石油公司 Petoro 的一份合同，用于开发生成式人工智能 (Generative AI)，通过整合短期和长期油田开发计划，更好地优化钻井资源。该解决方案通过 SLB 的“创新因素”(Innovation Factori) 人工智能协作工作区交付，结合了 FDPlan™ 敏捷油田开发规划解决方案和 Lumi 数据与人工智能平台上的领域人工智能模型。通过自动从结构化和非结构化数据中提取数据，这种集成方法增强了决策能力，并提升了整体油田性能。

在印度尼西亚，SLB 获得 MedcoEnergi 的合同，通过 Lumi 数据和人工智能平台部署先进的人工智能、生成式人工智能和机器学习功能。该开放平台集成了 SLB 和第三方的技术，以实现数据驱动的洞察、自动化日常工作流程并识别复杂数据集中的新兴趋势。利用 Lumi 平台（包括 Dataiku 的数据科学技术），MedcoEnergi 致力于促进创新、提升运营敏捷性并增强其长期竞争优势。

在科威特，SLB 获得科威特石油公司 (KOC) 的一份为期五年的主服务协议，为其提供勘探和开发咨询服务。SLB 将部署先进的数字解决方案，包括用于生产优化和油藏性能的生成式人工智能，以加快决策制定、提高运营效率并支持 KOC 的数字化集成未来战略愿景。

在荷兰，SLB 与荷兰能源公司 (EBN) 签署了一份为期三年的 Lumi 数据和人工智能平台使用合同。 Lumi 平台改变了能源公司利用数据的方式，提供可信的情报和可操作的洞察，从而提高效率和绩效。荷兰电力公司 (EBN) 致力于确保荷兰可持续、可靠且经济实惠的能源供应，而 Lumi 平台等数字技术则通过推动创新和效率来助力实现这一目标。

在美国，SLB 与一家总部位于休斯顿的全球独立能源公司合作，部署 OptiSite 设施、设备和管道解决方案。这些由人工智能和数字孪生驱动的解决方案提供了前所未有的生产运营可视性，并根据用户角色和职责提供自动化、数据驱动的洞察。OptiSite 解决方案由 SLB 运营数据基金会 (SLB Operations Data Foundation) 提供支持，并由 Cognite Data Fusion 提供支持。该计划将立即提升客户设施的正常运行时间和安全性，同时为集成人工智能、云和边缘技术铺平道路，通过自主运营提高管道吞吐量。

新能源

SLB 持续通过创新技术和战略合作伙伴关系参与全球向低碳能源系统的转型，具体包括：

在北海，SLB获得了北方耐力合伙公司（Northern Endurance Partnership，由英国石油公司、Equinor和道达尔能源公司合资成立）授予的碳封存点开发技术及服务合同。SLB将部署其Sequestri™碳封存解决方案组合（其中包括专门为碳封存点开发而设计和认证的技术），以建造六口碳封存井。该项目范围包括钻井、测量、固井、流体、完井、电缆和泵送服务。

电话会议信息：

SLB将于2025年10月17日（星期五）召开电话会议，讨论收益新闻稿和业务展望。电话会议定于美国东部时间上午9:30开始。欲收听此次向公众开放的电话会议，请在会议预定开始时间前约 10 分钟联系电话会议接线员：北美地区：+1 (833) 470-1428，北美地区：+1 (646) 844-6383，北美地区以外：+1 （646）844-6383，并提供接入码 188290。电话会议结束后，可拨打电话 +1 (866) 813-9403（北美地区）或 +1 (929) 458-6194（北美地区），并提供接入码 405384，收听音频回放，有效期至 2025 年 10 月 24 日。电话会议将以仅收听形式在 https://events.q4inc.com/attendee/686550547 上同步网络直播。网络直播的重播也将在同一网站上提供，直至 2025 年 10 月 24 日。

Revenue of $8.93 billion increased 4% sequentially and decreased 3% year on year
GAAP EPS of $0.50 decreased 32% sequentially and 40% year on year
EPS, excluding charges and credits, of $0.69 decreased 7% sequentially and 22% year on year
Net income attributable to SLB of $739 million decreased 27% sequentially and 38% year on year
Adjusted EBITDA of $2.06 billion was flat sequentially and decreased 12% year on year
Cash flow from operations was $1.68 billion and free cash flow was $1.10 billion, including $153 million of acquisition-related payments
Board approved quarterly cash dividend of $0.285 per share
original The exterior of the SLB headquarters in Houston, Texas.
The exterior of the SLB headquarters in Houston, Texas.

SLB acquired ChampionX during the third quarter of 2025. Third-quarter 2025 results reflect two months of activity from the acquired ChampionX businesses, which contributed $579 million of revenue, $139 million of adjusted EBITDA and $108 million of pretax segment operating income. Excluding the impact of this acquisition, SLB's third-quarter 2025 global revenue decreased 2% sequentially and 9% year on year; international third-quarter 2025 revenue decreased 1% sequentially and 9% year on year; and North America third-quarter 2025 revenue decreased 7% sequentially and 9% year on year.

Digital and Production Systems third-quarter 2025 results reflect two months of activity from ChampionX, which contributed $20 million of Digital revenue and $575 million of Production Systems revenue. Excluding the impact of this acquisition, Digital third-quarter 2025 revenue increased 8% sequentially and was flat year on year, while Production Systems revenue decreased 1% sequentially and 5% year on year.

Commencing in the third quarter of 2025, SLB began reporting its Digital business as a standalone Division and its Asset Performance Solutions (APS), Data Center Solutions and SLB Capturi businesses in the All Other category. Prior periods have been recast to conform to the current period presentation.

“The third quarter played out in line with our expectations as our revenue increased sequentially supported by two months’ additional ChampionX revenue, further growth in Digital and the resilient performance of our Core business. SLB improved revenue despite the backdrop of a fully supplied oil market, an uncertain geopolitical environment and subdued commodity prices.

“In this context, international markets — while facing challenges in some regions — are demonstrating resilience, with several countries across the Middle East and Asia continuing to show robust growth. Looking ahead, we expect OPEC+ production releases to support investment across many countries where SLB is well established,” said SLB Chief Executive Officer Olivier Le Peuch.

Production and Recovery Business Aligned to Enable Customers’ Changing Priorities

“As industry economics tighten, customers are increasingly prioritizing production and recovery solutions to offset decline by unlocking incremental barrels at the lowest possible cost. At the same time, they continue to accelerate the most critical FIDs and execute in-flight development projects.

“SLB has a differentiated opportunity to support customers on this journey — leveraging our subsurface expertise, production technology, portfolio integration and digital/AI capabilities — to unlock new value for mature assets and consequently expand our addressable market.

“ChampionX enhances our portfolio and underscores the value of expanding our presence in the less cyclical production market.

“I am confident in the position we are taking in the production and recovery market, and I look forward to deepening our collaboration with our customers to unlock more barrels. I am also excited by the progress we have made integrating the ChampionX team into SLB, and I am thankful for their performance and contribution this quarter,” said Le Peuch.

Digital Delivering Differentiated Growth and Margins

“Digital continues to transform the oil and gas industry, and this has been our fastest-growing business in recent years. We have been on a long journey to digitize the oilfield — from modeling and planning to operations and automation — recognizing that digital transformation is essential for unlocking the highest levels of efficiency, safety and sustainability in prospect selection, reservoir management and hydrocarbon recovery.

“By leveraging software, AI, data analytics, automation and IoT, we are unlocking productivity for geoscientists and engineers, driving a step change in efficiency and safety in operations, and supporting our customers to deliver better wells and higher-producing assets. As such, SLB Digital solutions are increasingly mission critical for our customers to stay ahead on innovation, efficiency and AI deployment.

“We are reporting Digital as a standalone division for the first time and are sharing details of the four revenue categories where SLB offers solutions for our customers: Platforms & Applications, Digital Operations, Digital Exploration and Professional Services.

“Our Digital business delivered revenue growth both sequentially and year on year. This high-margin and growing business is a true differentiator and reflects our industry leadership in this domain,” Le Peuch said.

International Markets to Lead Future Activity Rebound

“Looking ahead, it is more likely that the international markets will lead an activity rebound when supply and demand rebalance, supported by sustained investment for oil capacity, gas expansion projects and a constructive outlook for deepwater. SLB is well positioned to benefit from such a recovery.

“In the near term, we foresee revenue growth in the fourth quarter driven by the international markets, Digital and a full quarter of activity from the acquired ChampionX businesses,” Le Peuch concluded.

Other Events

During the quarter, SLB repurchased 3.2 million shares of its common stock for a total purchase price of $114 million. For the first nine-months of 2025, SLB repurchased a total of 60.0 million shares of its common stock for a total purchase price of $2.41 billion.

On July 16, 2025, SLB completed its acquisition of ChampionX. The combined portfolio, technology capabilities and digital leadership will position SLB to create value for its customers and stakeholders by increasing its exposure to the growing production and recovery market while delivering best-in-class workflow integration across production chemicals and artificial lift.

On October 16, 2025, SLB’s Board of Directors approved a quarterly cash dividend of $0.285 per share of outstanding common stock, payable on January 8, 2026, to stockholders of record on December 3, 2025.

Third-Quarter Revenue by Geographical Area

Third-quarter revenue of $8.93 billion increased 4% sequentially with international revenue increasing 1% and North America revenue increasing 17%. This reflects two months of activity from the acquired ChampionX businesses, which contributed revenue of $579 million, consisting of $387 million in North America and $171 million in the international markets. Excluding the impact of this acquisition, international third-quarter 2025 revenue declined 1% and North America third-quarter 2025 revenue declined 7% sequentially. International revenue slightly decreased due to the production interruption on the APS project in Ecuador and North America revenue declined due to the divestiture of the APS project in Canada.

International

Pro forma revenue in Latin America of $1.51 billion decreased 4% sequentially. Higher offshore drilling activity in Guyana was more than offset by reduced APS revenue due to production interruption arising from a pipeline disruption in Ecuador and lower drilling and fracturing activity in Argentina.

Year on year, pro forma revenue declined 14%, primarily due to a significant reduction in land drilling activity in Mexico and reduced APS revenue in Ecuador.

Europe & Africa pro forma revenue of $2.46 billion was flat sequentially with improved activity in Sub-Saharan Africa and offshore Scandinavia being offset by lower activity in Europe and North Africa.

Year on year, pro forma revenue declined 3% as strong activity in North Africa, Europe and Azerbaijan was more than offset by reduced deepwater activity in offshore Angola, Central & East Africa.

Pro forma revenue in the Middle East & Asia of $3.03 billion decreased 1% sequentially as robust activity in Iraq, Oman, United Arab Emirates, Egypt, India, East Asia, Indonesia, China and Australia was more than offset by activity declines in Saudi Arabia.

Year on year, pro forma revenue declined 11% as higher revenue in the United Arab Emirates, Iraq, Kuwait, Oman and China was more than offset by significantly reduced activity in Saudi Arabia. Declines were also noted in Australia and East Asia.

North America

North America pro forma revenue of $2.13 billion decreased 4% sequentially. The decline stemmed from the absence of APS revenue of $97 million following the divestiture of the interest in the Palliser project in Canada, coupled with lower activity in U.S. land due to reduced rig count. These declines were partially offset by higher digital exploration offshore and increased revenue from data center solutions.

Year on year, pro forma revenue declined 5%, driven by the divestiture of the APS project in Canada, coupled with a sharp decline in U.S. land drilling activity, partially offset by growth in data center solutions.

Digital third-quarter 2025 results include two months of activity from ChampionX, which contributed $20 million of Digital revenue.

Digital revenue of $658 million increased 11% sequentially driven by a robust increase in Digital Operations revenue which reflects the impact of ChampionX as well as organic growth, a strong increase in Digital Exploration revenue, and higher revenue in Platforms & Applications.

Year on year, Digital revenue increased 3% driven by strong growth in Digital Operations revenue, reflecting both organic growth and the impact of ChampionX as well as higher revenue in Platforms & Applications, partially offset by a decline in Digital Exploration revenue.

Annual recurring revenue (ARR) for the Digital Division as of September 30, 2025, was $926 million compared to $869 million for the same period last year.

Digital pretax operating margin of 28% expanded 250 basis points (bps) sequentially. Profitability improved due to strong Digital Exploration activity, robust revenue growth from Digital Operations and higher Platforms & Applications revenue.

Year on year, pretax operating margin contracted 135 bps due to substantially lower Digital Exploration revenue, partially mitigated by improved profitability in Digital Operations and Platforms & Applications.

Please refer to the section “Supplementary Information” (Question 11) for description of the revenue categories comprising the Digital Division. Please refer to Question 12 for the revenue, pretax operating income and adjusted EBITDA of the Digital Division for the first nine months of 2025 and first nine months of 2024. For the definition of ARR, please refer to Question 13.

Reservoir Performance revenue of $1.68 billion declined 1% sequentially as higher activity in Europe & Africa was more than offset by lower revenue in the Middle East & Asia, mainly due to lower intervention and stimulation activity in Saudi Arabia.

Year on year, revenue dropped 8%, primarily due to lower activity in Saudi Arabia and Mexico. These decreases were partially mitigated by robust activity in Argentina, United Arab Emirates, Kuwait and Qatar.

Reservoir Performance pretax operating margin of 19% was essentially flat sequentially and contracted 159 bps year on year due to lower profitability in evaluation and intervention.

Well Construction
Well Construction revenue of $2.97 billion was flat sequentially. Higher revenue in offshore Guyana and North America, coupled with higher land activity in Iraq, Oman and Asia, were offset by declines in drilling activity in Saudi Arabia, Argentina, Qatar and United Arab Emirates.

Year on year, revenue fell 10%, driven by a broad reduction in drilling activity across Mexico, Saudi Arabia, Namibia, North America and Asia. These decreases were partially offset by stronger performance in the United Arab Emirates, Guyana, North Africa, Iraq and Kuwait.

Well Construction pretax operating margin of 19% was up 22 bps sequentially but declined 273 bps year on year. Margin compression year on year stemmed from the widespread activity reductions in North America and several international markets.

Production Systems as-reported revenue of $3.47 billion increased 18% sequentially and 14% year on year, reflecting two months of activity from the acquired ChampionX production chemicals and artificial lift businesses, which contributed $575 million of revenue and pretax operating income of $106 million. Excluding the impact of this acquisition, Production Systems third-quarter 2025 revenue decreased 1% sequentially and 5% year on year.

Production Systems pretax operating margin of 16% contracted 66 bps sequentially and 98 bps year on year. The sequential margin contraction was primarily driven by an unfavorable geographical mix in completions and lower subsea margins. The year-on-year decline was driven by an unfavorable geographic mix primarily impacting surface production systems and completions. These declines were partially offset by the accretive margin contribution from ChampionX.

The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2024.

Production Systems pro forma revenue of $3.77 billion was flat sequentially. Increased sales of valves and production chemicals was offset by lower sales of completions.

Year on year, pro forma revenue declined 3% due to decreased sales of subsea production systems, completions and surface production systems, partially offset by higher sales of artificial lift and production chemicals.

All Other

Commencing in the third quarter of 2025, SLB began reporting its APS, Data Center Solutions and SLB Capturi in the All Other category. Prior periods have been recast to conform to the current period presentation.

Revenue of $397 million declined 32% sequentially and 28% year on year due to lower APS revenue following the divestiture of the interest in the Palliser asset in Canada, and the full month of production interruption arising from the pipeline disruption in Ecuador. These revenue declines were partially offset by higher Data Center Solutions revenue, which grew 26% sequentially and 98% year on year.

Pretax operating income of $96 million declined both sequentially and year on year due to lower APS revenue following the divestiture of the APS project in Canada and the production interruption in Ecuador.

Quarterly Highlights

CORE

Contract Awards

SLB continues to win new contract awards that align with SLB’s strengths in the Core. Notable highlights include the following:

Offshore Brazil, SLB was awarded a major contract by Petrobras to provide services and technology for up to 35 ultra-deepwater wells in the strategically important Santos Basin. As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.

Offshore Norway, SLB OneSubsea™ was awarded an engineering, procurement and construction (EPC) contract by Equinor for a 12-well, all-electric subsea production system in the Fram Sør field. The award follows a collaborative, year-long front-end engineering design phase, where Equinor and SLB OneSubsea jointly matured the project, culminating in the development plan and FID. As part of the resulting EPC scope, SLB OneSubsea will deliver four subsea templates and 12 all-electric subsea trees, eliminating the need for hydraulic fluid supplied by the host platform and keeping topside modifications to a minimum.

In Uzbekistan, Yangi Kon, the project office under the Reconstruction and Development Fund, awarded SLB a contract for integrated well construction. The scope includes drilling the country’s deepest high-pressure, high-temperature well, targeting a total depth of 7,500 meters in the fourth quarter of 2025. SLB will provide the rig and deliver key services, including directional drilling, logging while drilling, wireline and testing, cementing, drilling and completions fluids, and wellheads. The project also covers all necessary infrastructure, such as access roads and water wells.

In Colombia, SLB, through the recently acquired ChampionX, was awarded a six-year contract by Ecopetrol to deploy Oil Lift™ technology. Under this agreement, SLB will be the first call provider for progressing cavity pumps, driveheads and rod locks. This award reflects the superior quality and reliability of SLB artificial lift solutions, which were key factors in earning Ecopetrol’s confidence. This contract strengthens SLB’s regional position with a key operator and opens pathways to deploy additional technologies to support Ecopetrol’s long-term production goals.

In India, SLB, through the recently acquired ChampionX, received a purchase order from Essar to supply 100 Oil Lift progressing cavity pumps. This order demonstrates SLB’s ability to deliver reliable, high-quality artificial lift solutions that meet both technical requirements and commercial expectations.

Technology and Innovation

Notable technology introductions and deployments in the quarter include the following:

SLB announced a definitive agreement to acquire RESMAN Energy Technology, a global leader in wireless reservoir surveillance solutions. RESMAN’s advanced chemical tracers provide unmatched precision and accuracy in tracking water, gas, oil and CO2 movement within reservoirs and wells, delivering critical insights to optimize production and recovery. RESMAN’s cutting-edge tracer technology enables operators to monitor reservoir flow without disruption, offering unparalleled accuracy at parts per trillion detection levels. These insights are vital for well performance and reservoir monitoring across oil and gas, CO2 storage and geothermal applications, helping operators enhance production and improve recovery.

SLB introduced the OnWave™ autonomous logging platform that enables more efficient and reliable acquisition of formation evaluation measurements in any well condition. This first-of-its-kind technology autonomously acquires multiple, high-fidelity measurements downhole, without the need of a wireline unit and wireline cable. The OnWave platform’s cable-free design takes less than half the time to deploy compared with conventional wireline platforms, while enabling drillpipe rotation and mud circulation during logging operations, to enhance well safety and minimize stuck pipe events.

In Norway, an SLB OneSubsea subsea compressor system recently came online at Shell’s Ormen Lange field, the second largest gas field in Norway. This OneSubsea compressor system will help Shell, the operator for the Ormen Lange field, unlock 30–50 billion cubic meters of additional gas reserves for export to Europe. The Ormen Lange Phase 3 project sets a record for the deepest installation of a subsea compression system in water depths more than 900 meters below sea level. The gas will be delivered to the Nyhamna gas plant 120 kilometers away — setting another record as the longest subsea step-out.

In Oman, SLB and Petroleum Development Oman (PDO) enhanced production from its longest horizontal well in a tight clastic formation using an integrated stimulation solution. Precise wireline ThruBit Dipole™ acoustic service deployment and data acquisition was achieved with an angled hole finder and tool taxi, logging the target reservoir sections to deliver critical stress and geomechanical data. Now™ accelerated answer products, with Acoustics Now, enabled near real-time interpretation to optimize fracturing stage design. Eight engineered stages, including BroadBand Sequence™ fracturing service in the final three, achieved 100% placement and completed the well 26.5 days ahead of plan. Eliminating contingency cleanouts and repeated fracturing jobs saved an estimated 50 metric tons of CO2e and 4,500 barrels of water. PDO plans to replicate this success in future wells.

Also in Oman, bp and SLB deployed Hiway Flex™ customizable flow-channel fracturing technology across multiple formations in the Block-61 gas field. Designed for challenging environments prone to screenout, the fracturing technology improved proppant placement efficiency, eliminating the need for standby coiled tubing units. The deployment enabled a measurable reduction in well intervention costs and increased operational reliability. Early flowback and production data indicate enhanced reservoir contact and fracture conductivity, with treated wells delivering more than 50% higher gas output compared with offset wells using conventional methods.

Offshore Guyana, SLB and ExxonMobil Guyana Limited (EMGL) executed the first deployment of the Ora™ probe for focused sampling in July. The Ora platform captured uncontaminated samples in complex environments, which reduced cleanup time from an average of three hours to under one hour, saving rig time and mitigating sticking risks. EMGL also deployed PressureXpress™ reservoir pressure-while-logging service and the SLB intelligent pretesting digital solution, which leveraged AI-driven automation to improve pressure acquisition by 50%. The combined solutions saved more than 10 hours of rig time, demonstrating these solutions as valuable options for formation sampling workflows in the region.

DIGITAL

SLB is deploying digital technology at scale, partnering with customers to migrate their technology and workflows into the cloud, to embrace new AI-enabled capabilities, and to leverage insights to elevate their performance. Notable highlights include the following:

In Abu Dhabi, SLB and AIQ will closely collaborate to advance AIQ’s continued development and deployment of its ENERGYai agentic AI solution across ADNOC’s subsurface operations. ENERGYai combines large language model (LLM) technology with cutting-edge agentic AI, which is trained for specific workflows across ADNOC’s upstream value chain. AIQ and SLB will jointly design and deploy new agentic AI workflows across ADNOC’s subsurface operations, including for geology, seismic explorations and reservoir modeling, supported by SLB’s Lumi™ data and AI platform and other digital technologies.

SLB and SBM Offshore, a global leader in Floating Production Storage and Offloading (FPSO) solutions, announced an agreement to enter into an exclusive digital alliance to optimize the performance of offshore production systems. The alliance brings together SLB’s digital and domain expertise in subsurface, subsea, and surface production and recovery with SBM Offshore’s digital and FPSO life cycle capabilities. The companies will leverage their respective digital capabilities to create an AI-powered digital ecosystem that enhances FPSO digital asset management — improving uptime performance and reducing total cost of ownership for offshore operators. The digital ecosystem will integrate SBM Offshore’s operational workflows, data and life cycle expertise with SLB’s digital technologies, including its OptiSite™ solutions which are enabled by Cognite Data Fusion, as part of SLB’s Lumi data and AI platform.

SLB acquired Stimline Digital AS, a leading cloud-based software company for the energy sector specializing in well intervention. Stimline Digital’s IDEX™ platform provides operators with a powerful visualization canvas and collaborative environment to optimize the planning and execution of well intervention operations. Integrating the IDEX platform into SLB's data environment will provide advanced intervention applications for planning and modeling which gives operators the ability to create intelligent, data-driven workflows — enabling greater consistency, efficiency and performance for well interventions.

Offshore Angola, SLB and TotalEnergies Angola deployed its first autonomous drilling system from a Block 17/06 deepwater rig, resulting in increased drilling speed, fewer downlinks and 32 hours of potential rig savings over two drilling sections. The system integrated DrillPlan™ and DrillOps™ solutions, Neuro™ autonomous directional drilling and Presspro RT™ software into a continuous feedback loop — automatically recommending drilling parameters as conditions changed. The system improved trajectory control and optimized tripping, hole cleaning and torque and drag follow-up. With faster, more informed decisions and seamless remote collaboration, this operation set a new benchmark for drilling efficiency and performance.

In Norway, SLB was awarded a contract by the government-owned Petoro for generative AI to better optimize drilling resources by combining near-term and longer-term field development plans. Delivered through SLB’s Innovation Factori™ AI collaboration workspace, the solution leverages a combination of the FDPlan™ agile field development planning solution and domain AI models on the Lumi data and AI platform. By automating extraction from structured and unstructured data, this integrated approach enhances decision making and improves overall field performance.

In Indonesia, SLB was awarded a contract by MedcoEnergi to implement advanced AI, generative AI and machine learning capabilities through the Lumi data and AI platform. This open platform integrates technology from SLB and third parties to enable data-driven insights, automate routine workflows and identify emerging trends within complex datasets. Using the Lumi platform, including data science technologies from Dataiku, MedcoEnergi is positioned to foster innovation, enhance operational agility and increase its competitive edge in the long term.

In Kuwait, SLB was awarded a five-year master service agreement by Kuwait Oil Company (KOC) for consultancy services in exploration and development. SLB will deploy advanced digital solutions — including generative AI for production optimization and reservoir performance — to accelerate decision making, enhance operational efficiency and support KOC’s strategic vision for a digitally integrated future.

In the Netherlands, SLB and Energie Beheer Nederland (EBN) signed a three-year contract to use the Lumi data and AI platform. The Lumi platform transforms how energy companies leverage data to deliver trusted intelligence and actionable insights that drive increased efficiency and performance. EBN is dedicated to ensuring a sustainable, reliable and affordable energy supply for the Netherlands, which digital technology such as the Lumi platform helps deliver by driving innovation and efficiency.

In the United States, SLB entered a partnership with a Houston-based global independent energy company to deploy OptiSite facility, equipment and pipeline solutions. The AI and digital twin driven solutions offer unprecedented visibility into production operations, providing automated, data-driven insights tailored to user roles and responsibilities. OptiSite solutions are enabled by the SLB Operations Data Foundation and powered by Cognite Data Fusion. The initiative will bring immediate improvements in the customer’s facility uptime and safety, while paving the way for integrated AI, cloud and edge technologies to enhance pipeline throughput performance via autonomous operations.

NEW ENERGY

SLB continues to participate in the global transition to low-carbon energy systems through innovative technology and strategic partnerships, including the following:

In the North Sea, SLB was awarded a technologies and services contract for carbon storage site development by the Northern Endurance Partnership, an incorporated joint venture between bp, Equinor and TotalEnergies. SLB will deploy its Sequestri™ carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells. The project scope includes drilling, measurement, cementing, fluids, completions, wireline and pumping services.

Conference Call Information

SLB will hold a conference call to discuss the earnings press release and business outlook on Friday, October 17, 2025. The call is scheduled to begin at 9:30 a.m. U.S. Eastern time. To access the call, which is open to the public, please contact the conference call operator at +1 (833) 470-1428 within North America, or +1 (646) 844-6383 outside of North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 188290. At the conclusion of the conference call, an audio replay will be available until October 24, 2025, by dialling +1 (866) 813-9403 within North America, or +1 (929) 458-6194 outside of North America, and providing the access code 405384. The conference call will be webcasted simultaneously at https://events.q4inc.com/attendee/686550547 on a listen-only basis. A replay of the webcast will also be available at the same website until October 24, 2025.