SLB Signs Deal to Provide Digital Subsurface Workflow Solutions
SLB SLB signed a multi-year, three-way collaboration agreement with Amazon Web Services (“AWS”) and Shell Global Solutions Nederland BV.
The partnership aims to provide Shell plc SHEL with digital end-to-end workflows, utilizing SLB’s subsurface solutions on the AWS cloud infrastructure.
The collaboration is intended to deliver high-performance and cost-effective subsurface digital solutions, which will be utilized by Shell and made accessible to the broader industry.
The digital workflows will be based on the OSDU Data Platform standards, which are intended to enhance the overall customer experience for business users. This will lead to increased efficiency and collaboration among stakeholders.
This collaboration further extends the existing partnership between SLB and AWS, expediting the accessibility of SLB’s top-tier software on the AWS platform.
The expansion of SLB’s multi-platform strategy to encompass AWS underscores the platform’s openness. This means that SLB’s solutions can seamlessly integrate with AWS cloud infrastructure without the need for expensive and inefficient application adaptations.
The companies share a long-term commitment to the OSDU Data Platform. This includes aspects such as community standardization, open-source principles, an open marketplace, the capacity to free up industry data and maximizing the technological resources accessible to the industry.
Many operators aspire to adopt the OSDU Technical Standard as it can expedite operational cycle times and lower costs by seamlessly integrating data-driven decision-making into their digital workflows, facilitating the smooth transition between solutions provided by multiple vendors.
The three entities engaged in this collaboration are dedicated to collaborating with each other and other partners to advance this aspiration, utilizing the distinct capabilities of an Open Forum platform.
Zacks Rank & Stocks to Consider
SLB currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked companies mentioned below. The three companies presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Matador Resources Company MTDR is among the leading oil and gas explorers in the shale and unconventional resources in the United States. MTDR’s prime priorities include lowering debt, delivering free cashflows and maintaining or increasing dividends.
Matador Resources has witnessed upward earnings estimate revisions for 2023 and 2024 in the past seven days. The consensus estimate for MTDR’s 2023 and 2024 earnings per share is pegged at $6.40 and $8.64, respectively.
Pioneer Natural Resources Company PXD is an explorer and producer of oil, natural gas and natural gas liquid. The upstream energy player’s debt to capitalization has been persistently lower than the industry over the past few years, reflecting considerably lower debt exposure.
Pioneer has witnessed upward earnings estimate revisions for 2023 and 2024 in the past seven days. The consensus estimate for PXD’s 2023 and 2024 earnings per share is pinned at $21.42 and $25.27, respectively.
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Schlumberger Limited (SLB) : Free Stock Analysis Report
Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report
Matador Resources Company (MTDR) : Free Stock Analysis Report
Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report
